Our Risk Assessment process considers many factors to estimate probability, inherent risk factors, and risk mitigation. Vantage’s proprietary Risk Assessment product is utilized to document every aspect of the process, assign risk indexes, rate inherent risk factors, and determine the mitigation and controls of Financial Institutions using clear, easily understood terminology.
Financial Institutions are required to have adequate coverage, an appropriate distribution of compliance production responsibilities and effective staffing levels in their Compliance Departments – Vantage’s Staffing Analysis helps review capacity, knowledge coverage, and work coverage resulting in a comprehensive report designed to help benchmark your current coverage and identify any gaps.
DFS Part 504
New York State’s Department of Financial Services requires regulated entities – pursuant to Part 504 Regulation – to maximize their BSA/AML program to include standards for monitoring transactions for suspicious activities and filtering programs. At Vantage, we have developed a robust process to identify any gaps in a Financial Institution’s financial crime program as regulated by Part 504.
Let’s Work Together
Vantage has been a trusted resource to the financial services industry since 1997. We serve clients nationwide, including Banks, Foreign Branches/Agencies, Credit Unions and other Financial Institutions.
To find out how we can help your institution, contact us today at (855) 860-4777.