Bank Solutions Group

Virtual Compliance Office

As regulations continue to increase in number and complexity, there’s no relief in sight for community banks. Many have responded by hiring full-time experienced compliance officers and staff. Others have tried to meet the challenge by cross-training current staff. Neither is an ideal situation. The former often has to sacrifice other priorities and improvements while the latter incurs the risk of compliance errors or oversights.

A Better Alternative

Bank Solutions Group offers the ideal solution: a Virtual Compliance Office. A Virtual Compliance Office gives your bank access to our highly experienced and knowledgeable bank compliance experts when you need them. But because you don’t need them every minute of every day, your costs are 30% to 40% less than the cost of hiring a full-time compliance officer.

Our Virtual Compliance Office can be an alternative to internal staff, or we can supplement your internal compliance staff.

Advantages of our Virtual Compliance Office

• Our experts cover the whole range of compliance areas, including these complex areas:
  • Enterprise Risk Management
  • Risk Assessment and Mitigation
  • Fair Lending
  • UDAAP
  • Lending including HDMA
  • Flood Insurance
  • RESPA
  • Bank Security Act
  • And more…
• They continually educate themselves on upcoming changes in regulations.
• They maintain solid working relationships with regulatory agencies and auditing firms so that we are familiar with best compliance practices.
• We know that compliance needs are not precisely the same as other banks, and regulators are not satisfied by generic, check-the-box efforts, so our Virtual Compliance Office always tailors our services to your bank’s situation.
• We can work on-site at your bank, or we can work remotely , as you wish.

With a Virtual Compliance Office, you can go back to your expertise – banking – confident that your compliance is likewise in the hands of experts.