Governance, Risk, and Control
In today’s de novo banking world, Compliance is the number one issue with banking regulators. The bad actors are smart, move fast, and come at you from many different directions. Having a robust GR&C environment is critical across every aspect of the organization. We pride ourselves in installing the safest and most robust cultures of compliance in every one of our de novo efforts.
1.
Regulatory
BSA, AML, KYC, KYCC, KYV, SAR, EDD, CTR, and the list of acronyms goes on and on. Meeting the ever-changing regulatory compliance requirements means having the right people, processes, technology, and partners.
2.
Technology
A data breach, virus, ransomware, spyware, DDoS can completely disrupt your business operationally, but it can also cost your millions of dollars and a huge hit to your brand reputation. Small financial institutions rarely survive a data breach. To mitigate this constant and evolving risk you must have a technology infrastructure with top tier cybersecurity tools, resources, and partners.
3.
Operational
Operational policies and procedures are no longer just something that sits on a shelf. They must be thorough and up-to-date, and most importantly, stringently adhered to. Today, an operational related loss is not only a financial loss. It can significantly impact your brand, your customers' loyalty, and the confidence of your partner network.
A critical component of our GR&C efforts is the “independent risk assessment” that will be perform as a precursor to final regulatory approval and receipt of your banking charter. This will be performed by a qualified audit firm. You should hope they find something. This means they looked hard, because we don’t miss much.