Service(s) Provided:
Risk Assurance and Compliance
Situation:
A Financial Institution (FI) experienced significant growth with future expansion in the near term. In anticipation of expanded regulatory requirements due to increased asset size, the FI proactively requested a current state gap assessment to identify program enhancement opportunities regarding regulatory compliance.
Approach:
Vector Advisory performed a gap analysis of the FI’s current state environment in comparison to requirements, laws, rules, and regulations for insured depository institutions with $1B or more in consolidated total assets.
Results:
Gap assessment results were presented across four (4) key pillars, highlighting those requirements managed / in place and those to be developed (i.e., gap). Additional enhancement recommendations were provided to strengthen the overall program.