Regulatory Compliance: Alphabet Soup
It can be easy to get lost in the vast sea of compliance regulations. Baker Tilly’s dedicated professionals keep track of the ever-changing compliance landscape, understand the ins-and-outs of every regulation, and can assist you in preparing for your next regulatory examination.
It can be tempting to view growth and profitability as more important than ethics and compliance. However, compliance failures can damage the financial institution’s reputation, lead to regulatory penalties and/or fines and the loss of customers. Baker Tilly’s team of seasoned professionals is proficient and up to date on all current compliance regulatory requirements. We can offer a fresh set of eyes to your compliance program and help you determine what changes need to be made to ensure your financial institution is complying with all applicable regulations.
Baker Tilly’s compliance team consists of highly skilled professionals that have decades of experience in the banking industry. They can help you understand what regulators will be focusing on during your next regulatory exam.
Given the number of regulations there are to stay on top of — and the current staffing shortage — you can rely on Baker Tilly to take care of your regulatory needs and help to put your financial institution in a position to maintain compliance. Recently, many companies have been co-sourcing and outsourcing in order to alleviate internal staffing issues. Even if you already have a team of in-house regulatory specialists, we can serve as a sounding board for regulatory related questions and ensure your compliance program is in line with regulatory expectations.
Our team is available to you as a resource to answer any questions you have regarding compliance and beyond. As your financial institution continues to grow and regulations change, Baker Tilly will act as a consultant in order to better help you and any new staff members you may have. You are required to achieve regulatory compliance — our goal is to help you maintain this.
Bringing you value beyond compliance
By utilizing our company approach, Compliance+, Baker Tilly’s team of industry professionals will help you improve governance, mitigate risk, and optimize internal controls. This will lead to far less redundancies, inconsistencies, and inaccuracies while simultaneously maximizing transparency.
Leverage industry-specialized internal audit for organizational success.
Baker Tilly’s internal audit professionals are forward-looking and help clients to address risks, streamline business processes, and strengthen internal controls. With our industry-leading internal audit approach, our team brings innovative audit strategies and will collaborate with your organization’s management to identify and improve operations.
Evolve your risk program
Baker Tilly’s specialists regularly assist clients in detecting, preventing, responding to, and mitigating damages from financial crimes and suspected fraudulent activity. Our anti-money laundering (AML) programs are designed to protect organizations like yours that are subject to Bank Secrecy Act (BSA) regulations.
Simplifying CECL with a flexible approach and full suite of services
Baker Tilly CECL specialists navigate the complexities of current expected credit losses (CECL) with a flexible approach and full suite of services, including implementation, model validation, and outsourced third-party modeling.
It’s easy to get confused by the great jumble of acronyms that make up compliance regulations. Our specialists have broken the list down to include all the regulations — and beyond.