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Look to Doeren Mayhew’s compliance experts to help your credit union decipher regulations and bring into focus a systematic, clear path to regulatory compliance management.
Few industries face as many regulatory changes each year as the financial institutions industry. With the increased oversight by regulatory agencies, credit unions are burdened with the challenges of monitoring and maintaining compliance to avoid reputation risks, litigation and hefty fines, all while preserving the integrity of the credit union.
For over 40 years, Doeren Mayhew’s Financial Institutions Group and its credit union auditors have implemented regulatory compliance services for credit unions to ensure compliance with federal and state regulations, and mitigate risks. Our credit union auditors and credentialed advisors have the technical capabilities and knowledge to provide clarity on regulations, develop systematic monitoring measurements, address emerging risks and overcome administrative hurdles through a menu of regulatory compliance services for credit unions.
Designed to help you take a proactive approach to maintaining regulatory risks in your credit union, our risk-based credit union regulatory compliance audits approach helps bring issues with existing credit union regulatory compliance programs to the forefront, and identify opportunities for more effective and sustainable compliance processes by:
When it comes to regulatory compliance services for credit unions, institutions seek a credit union compliance consulting firms with unparalleled knowledge, client focus and industry experience, backed by credentials to assist in the process, such as those held by Doeren Mayhew’s team:
Each of our experienced regulatory compliance professionals is hands-on in the industry, gaining knowledge on trends and regulatory developments through our continued education and committed involvement in various national, state and regional accounting and credit union associations. Doeren Mayhew has also maintained working relationships with federal and state regulatory agencies, assuring our understanding of agency expectations when completing credit union regulatory compliance audits.
What is regulatory compliance in financial services?
Financial institutions must comply with the federal and state regulations that govern them. For example, credit unions must observe laws created by the Bank Secrecy Act (BSA) or the Fair and Accurate Credit Transactions Act (FACTA).
What are regulatory compliance services?
Regulatory compliance services involve employing a business or consultant to assist in ensuring a financial institution complies to financial standards, laws and regulations.
Why hire a regulatory compliance consultant?
Regulatory compliance consultants review a credit union’s policies and procedures, ensuring that it is following state and federal regulations. Regulatory compliance auditors conduct a risk assessment to evaluate each department’s operations, suggesting improvements as needed. With a wealth of experience, regulatory compliance consultants can pick up on inconsistencies or gaps in operations that could otherwise lead to significant penalties.
Whether you’re looking for Doeren Mayhew to handle all or a portion of your credit union’s regulatory function, rely on our team to help relieve the burden placed on your internal resources. Contact us to find out more about our regulatory compliance services for credit unions.
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