Overview

Using a risk-based approach, SC+S applies a high level of industry knowledge and experience to the delivery of our compliance review and audit services. We will maximize the effectiveness of each review and customize the scope to ensure that the time available focuses on the highest-risk areas. We will work with you to tailor the scope and approach, as needed, to truly meet your Institution’s needs.

Ideally, compliance internal audit is your third line of defense to verify the adequacy of other internal reviews and help you identify any new or changing requirements that may not have been addressed to meet regulatory expectations; however, if you do not have adequate internal resources, we can be engaged to replace your first or second line of defense on an outsourced basis. Under this approach, we can supplement, or in some cases, replace, the existing business line and compliance monitoring you may already have in place to strengthen the Institution’s initial lines of defense.

We have extensive proprietary compliance work programs, as well as professional internal audit work paper and documentation standards. Our work programs were developed by former compliance officers, regulators, and attorneys, and we cover federal laws, state laws, and industry-wide best practices. Results from our reviews are presented in a formal report with the scope, sample size and selection methodology, identified control issues, probable root cause, testing results and recommendations for each audit that will be presented to the Institution upon completion of the audit or review.

SC+S believes in the importance of strong financial institutions and works hard to help make our clients stronger by providing services that not only meet, but exceed regulatory expectations. Regulatory compliance is constantly changing. As such, our team of subject matter experts works collaboratively to ensure that our work programs include the most current information possible to allow us to provide our clients with an accurate assessment of compliance controls and results. Our commitment to excellence is key to helping our clients avoid regulatory violations and penalties! We believe in not only identifying potential issues, but providing strong recommendations for remediation to assist our clients with establishing strong controls that will stand the test of time.

Depending upon your Institution’s budget, audit schedule, risk assessment, and other risk factors, and as recommended by our compliance professionals, the scope of our compliance audit and review projects may include a number of areas.

Link to Sample Audits/Reviews