Why Is Compliance Help So Expensive?
I’ve been wondering this for a decade now. I think I’ve finally found the answer, and I started my own company to provide the solution. I believe hiring “traditional” outside compliance help isn’t practical for most banks. Traditional audits are expensive and often just give you a history report. Most smaller banks don’t ever hire outside help because they feel they can’t afford it. I want to change that. I’ve been an examiner, a bank compliance officer, and an auditor. I believe in sharing those experiences. My vision is to train your staff during my reviews and teach them new ideas and concepts. Other firms don’t like teaching their tricks. Their model seems to favor a continuous cycle of costly reviews that tell you your mistakes but do little to make you better. I believe the opposite. I teach you what I’ve learned participating on over 100 examinations and audits to make your program stronger. I do audit work, but I don’t consider myself an auditor. I do so much more.
I’ll show you a statistical sampling matrix. This immediately increases efficiency by allowing you to cut down your own review time while keeping the same level of accuracy and confidence. I teach a fair lending pricing model that you can apply to any credit product. These are both concepts examiners use all the time that bankers know nothing about. I can do everything the big firms do and more. I don't charge more for any of this. In fact, my rates are much lower than many other firms because I don’t have overhead and salaries to worry about. The best part is you get me every time, not a new trainee from a large firm with little or no real-world experience.
I keep my schedule flexible to meet your needs. I can schedule a full-scale audit to help you get ready for an examination. Some banks favor smaller reviews spread throughout the year; I work with both. I don't force banks into multi-year contracts. I only give you what you want. Some clients want me to start with one small review so they can get to know me and see what I can do, and I welcome that. I often recommend a fair lending review in those cases because it applies to everyone, it’s always a major risk, and I have some great tools to teach you. My goal is to become part of your compliance team but at a fraction of the cost.
Send me a message to learn more. Preferably, I would love to visit your bank so you can meet me in person and discuss what I can do. You can also contact me via e-mail at firstname.lastname@example.org