Compliance Management System/Compliance Management Program
ProBank Austin will evaluate the compliance management system focusing on written policies and procedures, regulatory compliance monitoring, employee training program, and Board and senior management reporting. In addition to evaluating the formal compliance system, the aforementioned lending and deposit reviews serve to assess the Bank’s current technical performance with regard to actual utilization of the designed compliance management system.
During this review, our professional will:
- Review and assess the structure of the compliance management system to determine if it provides adequate controls, monitoring, follow-up, training, and Board reporting.
- Interview individuals with compliance responsibilities to assess their level of understanding of the regulatory subject matter and ability to fulfill their roles.
- Evaluate the Bank’s process for conducting and documenting a self-assessment of compliance risk related to products, services, growth strategies, and other key categories.
- Assess the scope and frequency of internal reviews to determine if identified compliance risks are appropriately monitored.
Review the results of the most recent regulatory examination and internal/external review to determine if the Bank has a process for correcting identified weaknesses, as well as subsequent follow-up on corrective actions to ensure efforts are taken to prevent recurrence of those violations or criticisms.
- Evaluate the communication process to determine if the Board and senior management receive the type of information they need to remain aware of the Bank’s overall compliance risk management program.
- Review established internal and external training programs to assess the adequacy and timeliness of training for Bank personnel.
- At the conclusion of this review, ProBank Austin will be positioned to provide management with an objective assessment of compliance administration and to make recommendations designed to strengthen the Bank’s compliance program.