A team of experts in all areas of Regulatory Compliance
Regulatory compliance for financial institutions is evolving and becoming more complex; it is clearly the job of more than one person these days. M&M’s Compliance division is a team of experts with deep knowledge of regulatory compliance. We tailor an individual risk plan to each of our clients; we never look for a “one size fits all” solution. Our goal is to develop the right program for your institution so that safety and efficiency go hand in hand.
M&M Consulting brings you a team of independent experts to deal with all of your regulatory challenges, including:
BSA is one of the most comprehensive and complex annual reviews within the institution. M&M Consulting stays on top of FFIEC and other regulatory audit programs, incorporating a rigorous and thorough testing of the institution’s BSA capabilities. M&M has helped dozens of institutions overcome weaknesses and challenges in the BSA area, allowing them to quickly return to good graces with the regulators.
An essential tool to a growing institution is an effective software tool to increase the breadth and depth of monitoring for suspicious activities. However, the tool is only as good as the inputs which drive it. M&M is experienced in reviewing AML settings to ensure the right kinds of alerts and to eliminate alerts caused by faulty system settings. Don’t let your AML software become a beast of burden; M&M can help to maximize the efficiency of your technology.
Regulatory compliance today focuses on lending to consumers. That’s why M&M Consulting has published comprehensive Survivor’s Guides to QM/ATR and to TRID, and we shall soon be focusing on a Survivor’s Guide to the new HMDA. M&M also provides comprehensive independent audits of the effectiveness of regulatory compliance in the loan originations area.
Fair lending receives heightened scrutiny by regulators these days; let M&M help in developing effective Fair Lending reviews with comprehensive analysis of the institution’s historic data on both booked and declined loan applications. Don’t get caught without a thorough review of the underwriters’ track records.
Regulators work to ensure fair treatment of commercial borrowers and guarantors, and so should the institution. M&M Consulting will review the practices for requiring additional guarantors in the commercial underwriting department, as well as for compliance with flood and HMDA rules within the commercial banking division.
Regulators are looking closely at disclosures from product advertisements and websites; M&M can help! Our team can perform off site audits of web sites and advertisements, and we can review advertisements before they are printed through our Answer Person service, available Monday through Friday to M&M clients.
M&M specializes in substantive reviews of an institution’s CRA program before the exam happens – let us review the program and the governance of CRA at the bank to ensure there will be no issues with regulators. We look closely at the Community Development loans, services and investments for accurate documentation in compliance with the regulatory definitions, and we can help identify any weaknesses in the residential or small business lending tests.
M&M Consulting thoroughly reviews disclosures and system parameters to ensure that the institution is accurately disclosing and calculating interest and complying with the stated terms of the slate of deposit products offered by the institution.
Effective training is essential to good service. With so much new regulation it is important for staff to have the right kind of training at the right time. Ultimately it is the board’s responsibility to both train itself and to ensure that staff training is adequate and appropriate. M&M has provided two decades of training from the board room to the teller line.
M&M has always aspired to help our clients succeed on the regulatory battlefield; to that end M&M provides the following ancillary services to our clients:
- Answer Person – Answers to your compliance questions are available at the click of a button at any time during the business day from the M&M Answer Person – a free service to M&M clients
- Practical Compliance – A newsletter of pending regulatory changes and topics of interest, written and published by M&M staff six times per year
- M&M Guidance Documents – detailed publications on regulatory topics, deciphering the dense language and “legalese” of banking statutes
- M&M Survivors’ Guides – Comprehensive explanations and “How-To” guidebooks for the most complex regulatory changes, such as the Truth-in-Lending/RESPA Integrated Disclosures, Qualified Mortgages/Ability-To-Pay Rule and more
- Compliance School – An annual three day school (certified for CRCM continuing education credits) intended for both senior and junior compliance staff, bank management and boards of directors
Compliance Program Development
M&M can provide comprehensive assistance in developing a more effective compliance program:
- In depth independent reviews
- Risk assessments
- Policy & procedure development
- Open Issue tracking programs
- In house monitoring programs
- Board/audit committee reporting guidance
- Form/disclosure review and development