Compliance Services

Shared Compliance Resources

Compliance Specialists are hired, trained and put through certification classes by Credit Union Resources.  Throughout the year they divide or share their time among assigned credit unions. While working at a credit union services provided include the following:

  • Development, management and maintenance of an effective compliance program
  • Providing a risk assessment of existing compliance system
  • Monitoring and analyzing new and revised laws and regulations
  • Training staff and management on current and crucial regulatory issues

Website Compliance Reviews

Select from a limited scope or expanded full scope website reviews. Limited scope conducts an review of the credit union’s website for compliance related items only.  The expanded full scope option reviews the website for regulatory requirements, as well as a review of web host vendor, regulatory review of third party vendors, credit union due diligence and site compliance with applicable Federal Reserve and NCUA applicable rules and regulations.

Due Diligence for Vendors/Third Party Service

Shared Compliance Resources provides assembling, review and documentation of information subject to NCUA Regulatory Requirements covered in Supervisory Letter 07-CU-13, Evaluating Third Party Relationships.  The process includes the following:

  • Benchmark Process which includes planning, risk assessment and financial review.
  • Concentration Risk
  • Due Diligence Process which includes background checks, business model, financial information, review of outside audits and financial and operational control review.
  • Contract Issues and Regulator Review
  • Measuring, Monitoring and Controlling Risk

Policy Review and Development

After a complete review assistance is provided to gather all necessary background information, compile and document compliance policy elements that include: intent to comply, responsibilities, defining terms and frame actions in a logical sequence.

*Shared Compliance Resources does not represent any of its functions to take the place of or serve as legal advice.

 
 

 

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Contact Us
4455 LBJ Freeway
Suite 1100
Dallas, Texas 75244-5998
Phone: (469) 385-6400
Toll Free: (800) 442-5762
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