Project Background:

A Money Center bank client needed to respond to an OCC examination requirement to address criticism of Policies and Procedures related to the required Vendor Management Rules. The examination stipulated the utilization of an independent third party to review and advise on specific improvement to P/P and necessary internal training of staff to ensure future compliance.

Services & Solutions:
  • Corrective advice and necessary additions to existing Policies and Procedures Manual for Regulatory Compliance of Vendor Management Rules
  • Internal training to achieve full compliance with other safety and soundless matters
  • IT Preparedness Advisory for added adherence to updated Federal Regulatory Compliance Rules
  • Final report to the Board of Directors for submission to the regulatory authorities.
Outcome & Results:

A staff of 6 on-site and 9 remote Analyst and Managers worked together with specific client Points of Contact to review and advise on corrective internal controls to adhere to regulatory compliance of Vendor Management Rules. We also provided the client staff with training procedures and digital manuals for ongoing internal compliance. The final report was accepted by the client and OCC oversight personnel, as submitted. Assignment was completed on schedule and on budget.