Regulatory compliance audits
Your regulatory compliance is in good hands.
Regulations are changing at the speed of business, and keeping up with the changes can be dizzying for businesses. At Vala Secure, we become a part of your company to identify gaps and share recommendations for a plan of action.
We live in the details.
You may have experience with firms that treat regulatory compliance audits like sterile, corporate to-dos. We do things differently. A member of our regulatory compliance team will be on-site with your staff, walking you through every step and ensuring you have a firm understanding of where your business stands, along with advice on how to fix any issues.
For every regulatory compliance audit, you’ll receive a soft copy document of all findings and recommendations. And a member of our team will walk you through it step by step. Because compliance lives in the details.
For us, it’s personal.
We care about your business and its success, and our relationship doesn’t end once we deliver the results of your audit. We don’t mean to brag, but our regulatory compliance team really stands out from the pack. The team is comprised of industry experts who live and breathe regulatory compliance. Who genuinely care about your business. And who go the extra mile to help you stay compliant.
We’re always here to answer questions, provide recommendations and can even provide additional help developing and implementing compliance strategies.
Regulatory compliance audits we conduct include:
ACH Compliance Audit
We’ll come onsite to conduct an ACH compliance audit and ensure you comply with all provisions of the National Automated Clearing House Association (NACHA) Operating Rules during your required annual audit.
Bank Secrecy Act (BSA) / Anti-Money Laundering / OFAC Audits
A member of the Vala Secure regulatory compliance team will perform an evaluation of the overall adequacy and effectiveness of your BSA/AML compliance program, including policies, procedures, processes, risk assessments, and more. We will also perform transactional testing to verify your adherence to the BSA recordkeeping and reporting requirements. Upon completion, your Vala Secure regulatory compliance team member will review an assessment of your overall process for identifying and reporting suspicious activity, as well as the effectiveness of the process.
BSA Model Validation
We can review your BSA model to ensure that the program is performing in a manner that enhances your overall BSA program. During validation, we will review and analyze your use of the automated program and present any findings or recommendations in a risk rated report based on the following model:
- Model Usage and Effectiveness
- Development, Implementation, and Use
- Governance and Control Mechanisms
Deposit Operations Compliance Audit
There are a number of scenarios that could potentially lead to a discrepancy between what a customer deposits into an account and the amount that is actually added by the bank. Inaccurate deposit slips, encoding errors or poor image captures can all lead to discrepancies that need to be reconciled by the bank. One of our regulatory deposit team members will thoroughly evaluate your deposit operations to determine compliance, and address all regulatory requirements through in-depth, independent testing and review.
Fair Lending Audit
Fair lending violations can decimate an organization. We’ll help you stay compliant with fair lending requirements under the Fair Housing Act and the Equal Credit Opportunity Act by implementing evaluations to determine whether your organization participates in any discriminatory practices on a prohibited basis that could lead to fair lending violations.
Lending Compliance Audit
Vala Secure will evaluate your lending compliance management program and its ability to ensure technical performance within regulatory compliance. Together, we’ll review any procedural weaknesses and direct your attention toward those areas that pose the greatest risk of compliance or legal issues.