RLR Management Consulting - Operations and Regulatory Compliance

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Operations and Regulatory Compliance brochure

Operations Analysis and Improvements

A focus on growth may prompt concern that workflows are not effectively supporting current operations and continued growth. RLR provides consulting services that will collect data through interviews, and observation, develop review documentation and perform a Workflow Analysis to accomplish the following:

Improve workflow efficiency by eliminating redundant and non-productive steps
Improve procedural controls over accuracy and completeness of transactions
Improve risk management practices with regards to potential loss exposure
Improve performance timeliness by task reassignment or by automation opportunities

Operational Policies and Procedures

RLR can assist with the development of “customized” standard Operational Policies and Procedures. Operational procedures can be customized to reflect simple “how to” documentation.

Reconcilement/On-Call Support

RLR staff is comprised of seasoned professionals with extensive Financial Services and technology management experience. Our hands-on approach enables us to offer support for “daily tasks” required for temporary staffing needs or special reconcilement situations.

Operational Practices Audits

RLR provides a complete approach to reviewing a Financial Institution’s operating structure and reporting functions. Within this framework we determine what methods are in place and what methods are required to monitor operational activities, identify and report potential weaknesses, and resolve efficiences. We focus on the following:

Legal Processes
ATM/EFT & ACH Controls
Bank Controls
Cash Controls
Certifications
Operating Losses
Collateral & Safekeeping
Documentary Collections
Installment Collections
Consigned Items
Wire Transfers Operations and Regulatory Compliance
Deposit Accounts
Merchant Bankcard Operations
New Accounts
Certificates of Deposit
Attorney Client Trust Funds
Tax ID Numbers and Backup Withholding
Customer Service
Branch Security
Signing Authority
General Management
Dormant Accounts, Escheat, Unclaimed Property

Compliance Reviews

RLR provides our Financial Services clients with technical and operational expertise to determine adherence with regulatory guidelines. RLR performs a detailed review of Financial Institutions compliance structure and functions, reviews compliance materials, performs a review of the processfor disseminating compliance information, and looks at the methods for validating compliance efforts. Our review includes, but is not limited to, the following:

Regulation D
Regulation E
Regulation CC – Funds Availability
Regulation DD – Truth in Savings
Bank Secrecy Act
U.S. Patriot Act
OFAC
Consumer Privacy

Disaster Recovery/Business Continuity Planning

RLR delivers Disaster Recovery/Business Continuity Plans. Our plans are tailored for each financial services company we are engaged with, and addresses all functional areas, ensuring compliance with all applicable regulatory requirements.

The Disaster Recovery/Business Continuity Plan specifically covers the following topics:

Risk Assessment and Business Impact Analysis
Evaluate Critical Needs
Establish Recovery Priorities
Determine and Document Strategies and Procedures to Recover: facilities, hardware, software, communications, data files, customer services, critical systems, and other processing operations
Determine types of Teams and Team Responsibilities for Crisis Management Information Systems, Core Business and Reconstruction
Designation of Key Responsibilities
Define Responsibilities for: Staff Members, Key Personnel, Department Leaders, Coordinators, Chairpersons
Identify Backup Locations
Identify Available Workspace at other Locations
Emergency Notification Procedures
Determine and Document Individual Plans for the Crisis Management Team, the IS Team, Core Business Team and Reconstruction Team
Network Backup Plan
Voice Communications Backup Plan

New and Revised Regulation Toolkits

RLR’s proprietary toolkits deliver a turnkey, ready-to-use solution that Financial Institutions need for successful implementation of new or revised government regulations. The most recent Toolkits have been created for Check 21, for BSA changes for Money Service Business customers, and for Merchant Capture.

Our Toolkits are designed to guide you from start to finish:

Planning and Rollout at Your Financial Institution
Managing Your Vendor
Updating Regulatory Information
Training and Customer FAQs
Forms, Notifications, Disclosures

Simplified programs can be downloaded and installed from our website.

Adobe Acrobat PDF file (get Acrobat here)