About High Ground Risk & Compliance Consulting
We offer a variety of services to meet your compliance needs, big or small. While our main focus is in the areas below, we also advise on applying regulatory requirements, assist with implementation of new products and services, draft and review documentation, and provide other support services to bolster your compliance function.
Our Specialties
CRA Compliance
The October 2023 Community Reinvestment Act (CRA) modernization rule changed the game for CRA compliance. Now that the agencies are expected to rescind the rule, uncertainty is at an all-time high. High Ground can analyze your current program, identify any necessary changes, and create a strategic plan to ensure success at your next CRA exam, even in the face of regulatory uncertainty.
Financial Crimes
As the world becomes more complex, so does application of BSA/AML and sanctions rules. New banking-as-a-service (BaaS) and fintech partnership opportunities pose unique compliance challenges, as does servicing emerging high-risk customer types, such as marijuana-related businesses and entities in the virtual asset/cryptocurrency space. Let us help you build the financial crimes program you need to manage the risk.
CMS Optimization
A robust compliance management system (CMS) that fits your business is key to effectively managing compliance risk. Your policies and procedures, training, consumer complaint response system, third party oversight, and audit program should help you identify and mitigate potential problems. High Ground can make sure your CMS is tailored to your institution's needs and help you strengthen its component parts.
Process Improvement
When it comes to all the processes your bank has to comply with regulatory requirements, there is always room for improvement. Let us find ways to help you simplify and increase accuracy while balancing other business priorities.
BSA/AML Model Tuning and Governance
Automated transaction monitoring software is a cornerstone of most BSA/AML programs. While these systems can improve suspicious activity identification, they come loaded with regulatory expectations for system governance and can be tough to callibrate. We can work with you to optimize performance and design a system governance program that complies with interagency guidance on model risk management.
Corrective Action
When you discover a compliance failure (yes, it will happen!), addressing it can feel daunting. What caused the failure, how do you fix it, how many customers were impacted, was there any consumer harm, how do you document it? All these questions take time, resources, and experience to answer. High Ground can guide the way and assist with taking necessary corrective action.
Let's Connect
Are you ready to tackle your regulatory challenges? Contact us today to learn how High Ground Risk & Compliance Consulting can support your institution in achieving compliance excellence.