Federal Deposit Insurance Act (FDICIA) Compliance
Our team of experienced experts can step in to alleviate the burden and minimize the overhead costs associated with FDICIA compliance for privately held covered financial institutions.
A well-designed FDICIA compliance program ensures that you meet the regulatory mandate to provide an annual attestation of the adequacy of design and operational effectiveness of your internal control over financial reporting. Equally important, it provides management with the peace of mind that operating policies are being followed and is a sound part of good corporate governance.
For many financial institutions, conducting FDICIA compliance-related activities in-house may be overwhelming and impractical. For example, developing a compliance plan, assessing related risks, devising controls, and maintaining documentation or other necessary activities requires specialized expertise and is time-consuming.
By outsourcing your FDICIA compliance program management to RADD, you benefit from having a team of highly credentialed subject matter experts who have served as senior compliance leaders and former examiners on your side.