Gilbert Reese specializes in comprehensive compliance services for banks, credit unions, non-bank financial institutions such as money service businesses, RegTechs and FinTechs including virtual currency companies, and payment processing companies including payment facilitators.
We work with our clients to create annual compliance plans that set their compliance program up for success throughout the year. Topics in our annual plan includes, but are not limited to the following
- Clearly define standard of conduct by establishing and adopting written policies and procedures. Having clearly defined expectations fosters uniformity that in turn, enhances the compliance program.
- Discuss delegation of compliance duties and responsibilities. Ideally, our clients have an individual appointed as the compliance officer of record. Where they do not, we discuss the importance of that role and how our service offering can assist the organization.
- Because staff training is key to a successful compliance program, we discuss cadence for our client’s compliance training. We implement a training program that clearly communicates your company’s program requirements, with an annual refresher course that reminds employees of your compliance obligations.
- We emphasize the importance of corrective action. When vulnerabilities or violations are identified; whether through monitoring and auditing of the compliance program, or through the risk assessment services we offer, immediate and consistent action is required to remediate the issues identified in a timely manner. We work with our clients to implement management reporting for all identified issues.
