Risk Management Services
FIS Enterprise Risk and Regulatory Solutions
FIS’ EGRC Solutions builds lasting relationships and creates value-added solutions for our clients. We deliver a high-quality service provided through senior professionals supported by well-qualified specialists who have many years of governance, risk and compliance expertise.
Our mission is to partner with your institution’s management team to provide the necessary qualified expertise to be an effective, proactive and value-added resource. We work closely with management and are immediately responsive to your needs. Our leadership is focused on ensuring that your institution stays ahead of regulatory developments, and that problems are identified early and immediately brought to the attention of management.
Enterprise Risk Management
EGRC Solutions recognizes that each organization requires a customized approach to meet its Enterprise Risk Management (ERM) goals, and we understand the concepts and challenges of implementing and, more importantly, operationalizing ERM programs for financial institutions of all sizes.
Our seasoned professionals design and implement practical ERM programs that are scalable, sustainable and reflective of an organization’s risk profile. These programs also provide institutions with the tools to help them accomplish strategic business objectives while managing the risks associated with those objectives.
For companies that have established ERM programs in place, we have the expertise to analyze and assess those programs, provide benchmarking to industry best practices, and recommend enhancement and change management opportunities.White Paper – ERM Framework or ERM Software?
Areas that we can address include:
- Risk Governance Assessment and Implementation
- Enterprise Risk Capability Assessments
- Defining and Identifying the Risk Universe
- Risk and Control Assessment
- Risk Metric Development (KRIs)
- Issues and Action Tracking Solutions
Operational Risk Management
Given the high level of regulatory scrutiny on large financial institutions, transparency and compliance are critical. Our team of operational risk management professionals can help you assess the inherent risks in your operations; review your existing programs; assist with internal audit assessments and plans; train your staff on best practice methodologies; and enable you to more efficiently and effectively plan, execute and report on these key areas.
Whether you choose our co-sourcing approach or outsource your operational risk management to us entirely, our experienced professionals incorporate industry best practices and provide you with the benefit of our collective depth of knowledge and experience.Product Sheet – Internal Audit Solutions
Our suite of operational risk consulting services:
- Co-sourced internal audits in high-risk areas that require specialized expertise
- Identification of key controls and periodic testing to support SOX compliance
- External quality assessments of internal audit activities to provide an opinion on compliance with The IIA Standards
- Internal audit automated workpaper solution
- Staff augmentation to assist in annual audit plan completion or special projects
- An outsourced internal audit solution that includes the annual risk assessment; annual internal audit plan; and scheduling, execution, reporting and follow-up on each area of focus
Fraud Risk Management
Losses due to fraud – both external and internal – go beyond monetary damage, impacting an organization’s reputation and employee morale. FIS EGRC Fraud Risk Management team can help you establish a new or enhance your existing fraud program using industry best practices, and you benefit from our collective depth of knowledge and experience.
Risk Management Solutions Center
FIS believes strongly in collaboration between our experts and our clients, working closely with them to help them fight fraud and manage compliance. The FIS™ Risk Management Solutions Center provides outsourced and co-sourced fraud and anti-money laundering alert and case management utilizing our proprietary financial crime monitoring systems.Product Sheet – Fraud Risk Management Services
Our suite of fraud risk management consulting services:
- Fraud risk assessments
- Fraud policy development (including code of contact, ethics and whistleblower)
- Fraud training for employees, management and the board
- Design and implementation of fraud detection and prevention controls
- Consolidation of decentralized fraud functions
- Fraud program and best practice review
- Fraud investigations
- Identity theft risk assessments and monitoring programs
We fully understand the concepts and challenges of implementing forward-looking risk management practices within banks of all sizes. We know that each organization is different and requires a customized approach to meet its stress testing goals.
Our consultants, on average, have more than 15 years of experience as former risk professionals, bank regulators and Big Four consultants. This enables us to provide a level of expertise and service that is unparalleled in the industry today. We work with an organization to embed stress testing as a key component of a high performance risk management model and to ensure it includes the following five principles:
- Tailored to capture the organizations enterprise risks
- Employs multiple stress testing approaches (i.e., scenario, sensitivity, enterprise-wide and reverse stress testing)
- Is forward looking and flexible
- Produces stress test results that are clear and actionable
- Includes strong governance (i.e., policies and procedures) and effective internal controls
Safety and Soundness
FIS EGRC Solutions provides Safety and Soundness consulting services that assist executive management and board members to fulfill their fiduciary responsibility to establish a strong, scalable and sustainable risk management infrastructure for their bank.
More and more we are hearing from the regulators that banks need to be more forward looking in the way they manage risk across their organization. It also just makes good business sense to employ such a culture. In order to do this, banks have to take the necessary steps to implement a practical risk program that is functional and provides real-time information to senior management and the board. The program must also assist in the management of risk and executive decision making while providing a tool to help grow the bank over the long term.
From a consulting perspective, FIS EGRC Solutions offers risk management services that range from Credit Risk Assessments to Enterprise Risk Assessments, as well as Risk Infrastructure Design and Service Delivery that can help banks reach their risk management goals.
Service offerings include:
- Credit Risk Assessments
- Credit Policy Review
- Credit Policy Training
- Loan Loss Reserve Analysis Review
- Loan Grading and Pricing Review
- Funds Management Review
- Financial Risk Assessments
- Enterprise Risk Management Design and Assessments
Enforcement Action Assistance
How a financial institution addresses and complies with enforcement actions is critical to its viability and thus requires care and diligence and effective implementation strategies. Our staff of former senior banking regulatory examiners are well experienced in responding to supervisory actions including supervisory agreements and formal supervisory enforcement actions such as, but not limited to: Board Resolution; Directive; Memorandum of Understanding (MOU), and Cease and Desist Orders (C&D).
Our staff will:
- Develop a plan for addressing the corrective actions set forth in the enforcement action
- Create an Action Item Matrix to manage the corrective action process
- Recommend timelines for ensuring compliance with required completion dates
- Provide detailed recommendations on the required corrective actions based on size, complexity, product lines and business operations
- Prepare an Enforcement Compliance Tracking Report
- Review and validate the status of corrective actions
- Assist in the preparation of responses to supervisory actions
- Assist in the preparation of periodic progress reports to regulators
- Based on our observations, we will prepare detailed recommendations to strengthen the compliance program, including, where appropriate, language to be included in policies and procedures, suggested new compliance controls, ongoing monitoring and testing, and periodic training programs.
Compliance Risk Management
EGRC Solutions will create a regulatory compliance program that is tailored to the unique needs of each financial institution we serve. Our team of experienced compliance professionals provides the tools and resources needed to ensure a strong compliance posture. Because every client has a different internal structure and set of needs, we partner with clients to provide the level of compliance support that is appropriate for their institution.
Product Sheet – Customized Compliance Programs White Paper – ATM Speech Output Requirements White Paper – The Dodd-Frank Act: Does Size Matter? White Paper – Dodd-Frank and Private Funds: Tying It All Together White Paper – Garnishment of Accounts Containing Federal Benefit Payments White Paper – Revisions to Interagency Q&A on Flood Insurance Issues White Paper – Regulation E Compliance: New Remittance Transfer Requirements White Paper – The 3 Most Common HMDA Exceptions to Watch Out For White Paper – Five Foreclosure Practice Improvements to Keep Your Institution Compliant CFPB Proposes Integrated Mortgage Loan Disclosures Understanding Regulation Z Risk-Based Provisions of the Fair Credit Reporting Act
Customized services include:
- Risk Assessments
- Compliance Program Development
- Policies and Procedures
- Regulatory Updates
- Exam Assistance
BSA/AML and Sanctions
BSA/AML compliance remains a significant risk for all banks and an important focus for regulators. Our practice is staffed with former federal examiners and BSA officers from foreign and domestic banks.
Our proven approach for creating customized BSA/AML and OFAC compliance programs is designed to meet the unique needs and risks of each financial institution. We assist our clients with establishing and maintaining effective programs to prevent money laundering and terrorist financing activity.
Product Sheet – BSA AML OFAC White Paper – Four Proposed Customer Due Diligence Requirements for Financial Institutions
- BSA/AML Risk Assessment
- OFAC Risk Assessment
- Independent Testing
- BSA/AML Risk Assessment
- Policies and Procedures (Transaction Monitoring, OFAC, CIP, KYC/EDD)
- Account Opening Procedures
−Customer Identification Program (CIP)
−Customer Due Diligence (CDD)
−Enhanced Due Diligence (EDD)
Community Reinvestment Act (CRA) Compliance
CRA Compliance is an important consideration in any regulatory application, such as mergers, acquisitions and new branches. Furthermore, the Gramm-Leach-Bliley Act emphasizes the importance of a bank’s CRA performance in determining which banks will be permitted to expand their business beyond normal bank activities.
Our CRA Compliance practice area is led by former federal regulators and CRA bank officers who help you monitor your performance and suggest adjustments to address deficiencies.
Product Sheet – CRA Compliance White Paper – Transitioning to an Intermediate Small Institution for the CRA
CRA Compliance services include:
- CRA Performance Evaluations
- OFCRA Plan Development
- Performance Context Updates
- Assessment Area Delineation
- Lending Performance Analysis
- Community Development Loans Analysis
- Qualified Investments, Grants and Donations Analysis
- Quarterly CRA Performance Updates
- Exam Remediation
- Additional CRA and HMDA Services
−Home Mortgage Disclosure Act (HMDA) and CRA data integrity reviews
−CRA Public File maps
−Assessment area demographic reports
Fair lending continues to grow as a major focal point for regulators in light of the recent mortgage and credit crises. Our fair lending practice is comprised of former federal regulators who specialize in fair lending, and our fair lending services are performed in accordance with the non-discrimination requirements of the Equal Credit Opportunity Act, Fair Housing Act and applicable state laws. We will evaluate your fair lending performance in accordance with the Interagency Fair Lending Examination Procedures and recent regulatory guidance.
- Fair Lending Risk Assessments
- Comparative File Reviews
- Transactional Testing
- Exam Remediation
- Policies and Procedures
Technology Risk Management
Technology is woven into every aspect of a financial institution’s operations and its use will continuously evolve. With the increasing dependence on technology comes an increased risk profile for each financial institution. Our Technology Risk Management Services team is staffed by technology compliance professionals, IT auditors, former federal regulators and IT operational executives, with a focus on managing information security and operational and technology risk. All of our work programs are based on FFIEC guidance, and are tailored to each individual client.
Our approach to an IT Audit, IT Compliance or Technology Risk Consulting project is fit to your specific culture and requirements. The approach is based upon an analysis of your technology infrastructure and your organization’s long- and short-term needs.
Our risk-based IT Audit procedures are customized to your institution’s size, complexity, scope of activities, risk profile, quality of control functions and use of technology. Risk-based IT audits enable your board of directors and management to identify areas of weakness and opportunities to strengthen internal controls.
As your institution deploys more sophisticated technologies, your IT Risk Profile does not need to increase.
Product Sheet – Technology Compliance Services White Paper –FFIEC Supplemental Guidance to Authentication in an Internet Banking Environment White Paper – Five Essential Measures for Building a Best-In-Class Vendor Management Program Cyber Security Stress Testing
- IT Compliance Review
- IT Risk Assessment
- IT Audit Risk Assessment
- Project Management and System Implementation
- Customer Information Security Programs/Gramm-Leach-Bliley Act (GLBA)
- Information Security Risk Assessment
- Information Security Policies and Procedures
- External Security Assessment
- Network Vulnerability Assessment and Penetration Testing
- Cyber Security Stress Testing
- Social Engineering Testing
- Vendor Management Review and Program Development
- Remote Deposit Capture
- ACH Risk Assessment
- Vendor SSAE 16 Review
- Electronic Banking Risk Assessment
- Disaster Recovery Planning and Testing
- Business Continuity Planning and Testing, including Pandemic Preparedness
- End-user Security Controls
- Internet Banking and Bill Pay
- Network Review
- Change Control
- Computer Operations Review
- IT Management Review
Training is an important aspect of any compliance program. We are experts in compliance training and we can help train your board of directors, management and staff. Our proven teaching methods incorporate real-life scenarios that engage participants in the learning process.
Our compliance training programs are tailored to your specific needs, either as part of our customized compliance program or as a stand-alone product through FIS Regulatory Advisory Services.
- General Compliance
- Bank Secrecy Act/Anti-Money Laundering
- CRA Compliance
- Fair Lending
- Technology Compliance
- Identity Theft Prevention
Convenient, Cost-Effective Compliance Webinars Delivered to Your Work Space
Each month, FIS Regulatory Advisory Services conveniently offers Web conferences on the latest compliance updates and regulatory changes. Whether you are sitting at your desk or with other employees at your financial institution, you can count on us to provide training on the industry's hot compliance topics – all via your computer.
- Time – All conferences begin at 2:00 p.m. ET
- Duration – Approximately 60 minutes (including a 15-minute Q&A session)
- Number of Participants – Unlimited
- Technology Requirements – A telephone line and an Internet connection
Continuing Education Credit:
The Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association, is dedicated to promoting the highest standards of performance and ethics within the financial services industry. FIS Regulatory Advisory Services webinars are submitted to ICB for continuing education credits for the designations of Certified Lender Business Banker (CLBB) and/or Certified Regulatory Compliance Manager (CRCM). Upon approval, each class will qualify for 1 – 2.5 CRCM and/or CLBB credits. The approval can take 6 – 10 weeks; therefore, we should be able to provide you with a certificate of completion within 10 weeks of your webinar date. Certificates will be sent upon request.
Compliance Advisory Seminars
Regulatory compliance requirements are constantly changing. FIS Regulatory Advisory Services can help you and your staff prepare to meet new and existing compliance challenges.
Our compliance training series can help you save time and money while meeting your ongoing educational needs. Attend a two- or four-day compliance training program and learn about real-world solutions that can improve your compliance policies, procedures and day-to-day practices. Our training curriculum is tailored to different experience levels so everyone on your team can benefit.
You’ll also receive quick reference guides along with other relevant material for internal use within your institution.
Certified Regulatory Compliance Manager
FIS Regulatory Advisory Services seminars are certified by the Institute of Certified Bankers (ICB) to provide 29 continuing education Certified Regulatory Compliance Manager (CRCM) credits.
Certified Legal Education
FIS Regulatory Advisory Services seminars are certified by the Florida Bar Association to provide a total of 26.5 Certified legal Education (CLE) credits.
You can register online or by faxing the completed registration form in the seminar brochure to 1.321.207.4001.
Continuing Education Credit:
Earn regulatory compliance manger (CRCM) continuing education credits certified by the Institute of Certified Bankers (ICB). A subsidiary of the American Bankers Association, ICB is dedicated to promoting the highest standards of performance and ethics within the financial services industry.
- View FIS Regulatory Advisory Services seminar schedule
- View FIS Regulatory Advisory Services seminar brochure - Fall 2014 (PDF)
- View FIS Regulatory Advisory Services seminar brochure - Spring 2015 (PDF)
Examination Preparation and Response
The examination process can be overwhelming, especially if you are not familiar with what examiners expect from financial institutions and how you should participate in the examination process to ensure success. With the recent regulatory realignment, financial institutions are being exposed to new regulatory agencies (e.g., CFPB). Our staff of highly experienced compliance individuals includes former senior banking regulatory examiners who are well versed with the regulatory examination process and examiner expectations and can ensure that your staff is adequately prepared for upcoming regulatory examinations.
For routine scheduled examinations, our staff of former senior banking regulators will:
- Brief staff to ensure they are well versed with examiner expectations
- Communicate with regulators, as warranted
- Attend examiner entrance and exit meetings, as requested
- Assist in preparation of the Information/Document Request
- Prepare examination document request binders
- Review management-prepared responses for the Officers Questionnaires
- Review Examination Reports and assist in preparation of management responses
- Assist board and management in the development of a strong compliance risk management system.
Mortgage Quality Control
Our Mortgage Quality Control services are led by experienced underwriters and compliance professionals. The quality control review and reporting process meets the requirements of all secondary market investors including HUD, Fannie Mae and Freddie Mac.
Loan files are re-underwritten to ensure the loan is in compliance with investor or proprietary product guidelines, lender policy and regulatory requirements. Our mortgage quality control reviews encompass credit, appraisal, closing and legal documentation. The team is staffed by experienced front-line underwriters and mortgage insurance, QC and due diligence professionals who provide a well-balanced understanding of loan risk.
Product Sheet – Mortgage Quality Control Services White Paper – Foreclosure Management: Servicing Standards Update
- Verifying the existence and accuracy of all documents used in the underwriting process
- Re-underwriting loans to assure they meet internal lending policy, product guidelines and underwriting requirements of secondary market investors and insurers
- Re-verifying income, asset and credit documentation to prove accuracy of documents used in the underwriting process
- Verifying that the documents used in the underwriting process were issued by the originating source
- Appraisal review – Verifying data and consistency by underwriting the original appraisal
- Ascertaining compliance with RESPA, ECOA, Truth in Lending Act, National Flood Insurance Act, Privacy of Consumer Financial Information and customer identification procedures