by Chinedu Nnadi | Jan 9, 2023 | RADD ENGAGE
We are so excited to announce that we’ve just won an engagement with a southern California credit union with an asset size of 2 Billion. RADD LLC will perform an MRB Risk Assessment and develop and implement the MRB Depository Program for the Credit Union....
by Chinedu Nnadi | Jan 9, 2023 | RADD ENGAGE
We’re excited to announce that we have been hired by a California-based money service business to assist with program development and expansion of their MSB services in various states. We’re looking forward to helping them take their business to the next...
by Chinedu Nnadi | Jan 7, 2023 | RADD ENGAGE
We’re thrilled to announce our new engagement with an $82M Southern California Bank, which just hired RADD LLC to provide BSA fractional support and perform BSA program Audit and Model Validation audit. We’re looking forward to helping them stay compliant...
by Chinedu Nnadi | Dec 27, 2022 | RADD BUZZ
FDICIA stands for the Federal Deposit Insurance Corporation Improvement Act. It is a law enacted in the United States in 1991 as a response to the savings and loan crisis of the 1980s. Enforced by the Federal Deposit Insurance Corporation (FDIC), the FDICIA as we...
by Chinedu Nnadi | Dec 15, 2022 | RADD BUZZ
The Home Mortgage Disclosure Act (HMDA) is a federal law that requires lenders to report certain information about their mortgage loan applications to appropriate authorities. This regulation applies to banks, savings associations, credit unions, or other institutions...
by Chinedu Nnadi | Nov 23, 2022 | RADD BUZZ
Compliance culture is an organization’s set of policies, practices, and behaviors that allows it to ‘play safe’ in its operation. Compliance culture in the financial service industry is how an organization implements and executes its compliance...
by Chinedu Nnadi | Nov 10, 2022 | RADD BUZZ
Enhanced Due Diligence (EDD) is a risk-based approach to KYC procedures. It was developed in response to the increasingly complex financial crime environment. Banks have always been required to know their customers before providing them with banking services, but...
by Chinedu Nnadi | Oct 17, 2022 | RADD BUZZ
Internal audit departments have been a core component of financial institutions for decades. However, with the rise of regulatory scrutiny and the complex risk landscape of financial institutions, having an in-house team is not always feasible. In today’s...
by Chinedu Nnadi | Oct 4, 2022 | RADD BUZZ
Doing a BSA/AML risk assessment is a significant step in complying with anti-money laundering regulations. In this post, we’ll give you an overview of the risk assessment process for FIs. You’ll also understand the steps in completing a comprehensive...
by Chinedu Nnadi | Sep 23, 2022 | RADD BUZZ
Regulatory change is an ongoing part of financial institutions (FIs) life. For one, the industry is one of the most highly regulated in the world. According to a 2020 report by Thomson Reuters Regulatory Intelligence, a typical financial services organization is...
