Compliance Management System/Compliance Management Program

Forvis Mazars can assess 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 the formal compliance system, we can assess regarding the bank’s current technical performance via lending and deposits with regard to actual utilization of the designed compliance management system.

During this review, our professional can assess:

• The structure of the compliance management system and whether it provides adequate controls, monitoring, follow-up, training, and Board reporting
• The level of understanding of the regulatory subject matter for individuals with compliance responsibilities and their ability to fulfill their roles
• The bank’s process for conducting and documenting a self-assessment of compliance risk related to products, services, growth strategies, and other key categories
• The scope and frequency of internal reviews and if identified compliance risks are appropriately monitored
• The results of the most recent regulatory examination and internal/external review and whether the bank has a process for correcting identified weaknesses, as well as subsequent follow-up on corrective actions to confirm efforts are taken to prevent recurrence of those violations or criticisms
• The communication process to discover 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
• Established internal and external training programs as to the adequacy and timeliness of training for Bank personnel

At the conclusion of this review, Forvis Mazars 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.