Risk Assessments and Internal Audit Usage in Compliance Strategy
To have an effective compliance strategy, financial institutions need to use internal audits and risk assessments as such we tend to discuss the risk assessments and internal audit usage in compliance strategy. The most effective internal audit teams want to go...
Community Reinvestment Act
Why was the Community Reinvestment Act created? Community reinvestment act was created to require regulatory agencies to encourage financial institutions to help address the credit needs of low and moderate-income neighborhoods through lending and community...
The Top 10 Benefits of Working With an Internal Auditor
An internal auditor is a professional who assures that an organization’s risk management, governance, and internal control processes are effective. Audits completed by experienced auditors are designed to mitigate an institution’s risks and improve its...
Business Continuity and Disaster Recovery Planning
Your financial constitution is constantly at risk of being victim to natural or manmade disasters. While you can’t prevent random acts of nature, it is possible to protect your institution’s and customers’ assets from being lost by investing in...
What You Need to Know for Your Next Disaster Recovery Audit
While disaster recovery audit has been recognized as a desirable goal for most organizations for some time. There is still a large percentage of institutions that do not have disaster recovery plans in place. The recent years’ disasters and the resulting media...
RADD Engages with a $5.5B credit union in lowa to assist on the BSA model validation
We are delighted with another engagement with a $5.5B lowa-based credit union to be assisting them on BSA/AML model validation. Building a solid BSA program can detect early risk indicators which can prevent significant loss. Our qualified team can help regulate your...
EIDLing the Engine: Don’t Call Us, We’ll Call You
First the Subject line. With a new administration and congress, there are going to be a LOT of changes to rules and policies that affect your business, so my focus will be to keep you updated with the relevant items and try not to take more than a few minutes of...
The Importance of Reducing Your Compliance Management
The Importance of Reducing Your Compliance Management WorkloadWhy is compliance important?Enforcing compliance helps you prevent and detect infractions to resolve and avoid fines and lawsuits.It can be said that compliance management is a continuous job.Just as one...