Industries

Financial Institutions Risk Management
 

Clark Schaefer Hackett has merged with Albright Consulting, Inc. Follow the links to learn more about the merger and about the CSH’s Financial Institutions practice.

Clark Schaefer Hackett has one of the strongest specialized financial institutions industry teams in the area.  We've provided traditional auditing and tax assistance to financial institutions for over 25 years, and more than half of our clients have been with us over a decade.  We serve locally-based banks and savings institutions with staff that are knowledgeable about the industry norms in this market.  As part of our commitment to serving financial institutions, we have assembled a strong group of financial statement auditors as well as a group of Risk Management Specialists. 

Led by Jim Conley, our Risk Management Service Group will help improve your internal controls and save your institution the possible financial losses associated with reporting failures.  Our Risk Management Specialists can supplement your organization’s internal compliance and risk management team on a interim basis or conduct all regulatory compliance and risk management services for your financial institution. 

The expertise of our Financial Institutions Risk Management Services Group is concentrated in providing the following services:

• Risk Assessment
• Internal Audit, including compliance with the Bank Secrecy Act, USA PATRIOT Act and OFAC monitoring and reporting requirements, and compliance with the Identity Theft/Red Flags requirement under the Fair and Accurate Credit Transactions Act (FACT Act)
• Internal Control Evaluations Including Sarbanes Oxley Section 404 Implementation and Control Testing Engagements
• Loan Reviews of commercial loans, mortgage loans, consumer installment loans and junior lien mortgage loans
• Regulatory Compliance Management and Audit Services of operations, disclosures and deposits
• Financial Management Projects Including Model Validations
• Fraud Investigation and Litigation Support

Our risk management and compliance specialists hold the following certifications:
 

• Certified Bank Auditors (CBAs)
• Certified Fraud Examiners (CFEs)
• Certified Internal Auditors (CIAs)
• Certified Public Accountants (CPAs)
• Certified Regulatory Compliance Managers (CRCMs)

We can help your institution remain compliant with the following laws and regulations by conducting specialty reviews:

• Reg. B (Equal Credit Opportunity Act)
• Reg. C (Home Mortgage Disclosure Act)
• Reg. E (Electronic Funds Availability Act)
• Reg. H  (Sale of uninsured products)
• Reg. O (Loans to Executive Officers, Directors, Principal Shareholders)
• Reg. P  (Privacy Disclosures)
• Reg. U (Lending on Securities)
• Reg. V  (FCRA - Fair Credit Reporting Act)
• Reg. X  (RESPA - Real Estate Settlement Procedures Act)
• Reg. Z (Truth in Lending)
•  HOEPA (Home Owners Equity Protection Act)
• Reg. AA (Unfair and Deceptive Acts or Practices)
• Reg. BB (CRA – Community Reinvestment Act requirements)
• Reg. CC (Funds Availability)
• Reg. DD (Truth in Savings)
• Reg. GG (Unlawful internet gambling)
• FDPA (FEMA - Flood Disaster Protection Act)
• FHA (Fair Housing Act)
• Homeowners Protection Act—Private Mortgage Insurance (PMI) Requirements
• FACT Act
• Identity Theft
• BSA (Bank Secrecy Act)
• OFAC (Office of Foreign Asset Control) monitoring requirements
• US Patriot Act monitoring requirements
• Anti-money laundering laws and regulations
• Deposit review laws and regulations