Financial Institutions Services Summary

 Financial Statement Audits

  • Provide assurance that year-end financial statements conform with generally accepted accounting principles and are free of material misstatements
  • Detect areas that pose significant risk to the financial institution
  • Review the adequacy of loan loss allowances and the relevance of the financial institution’s methodology used to determine the allowance

Internal Audits/Compliance Exams

  • Improve internal controls
  • Help detect and prevent fraud
  • Identify areas of high risk
  • Detect future risks and opportunities
  • Director’s exams/supervisory committee exams tailored to specific risks and concerns

HUD compliance audits

Employee benefit plan (ERISA) audits

  • Retirement plans (401k, 403b, ESOPs, Defined benefit pension plans)
  • Health and welfare plans
  • Provide assurance that year-end financial statements conform with generally accepted accounting principles are free of material misstatements
  • Plan is in compliance with DOL regulations

Loan Reviews

  • Provide assurance that loan policies and procedures are followed
  • Ensure that proper underwriting standards are being used
  • Increase management’s confidence in loan decisions

Stress Testing

  • Testing the loan portfolio as a whole to determine if there are any stressors

Tax Return Preparation and Consultation

  • Federal and State forms
  • Cash vs. accrual analysis—Which is the best for your business?
  • C Corporations
  • S Corporations—Analyze the AAA account and the effect on shareholder distributions.

Compensation and benefits consulting

  • Defined contribution retirement plans
  • Defined benefit health and welfare plans
  • Recordkeeping services

Board Training

  • Consulting and training to fulfill compliance standards and/or gain better understanding on specified topics

Succession planning 

Simply put, succession planning is preparing your financial institution for the future. True succession planning goes far beyond identifying and preparing your bank for sale or transfer to a family member or other shareholders.  Whether your transition is eminent or years down the road there are powerful steps you can take today to ensure the current and future success of your bank.  Having worked with thousands of businesses in analyzing their business processes we bring a diverse perspective of best practices to each unique institution.

Management Consulting 

A financial institution’s future is dependent upon its ability to attract and retain personnel committed to helping the institution achieve its vision.  Our dedicated team helps you explore the future of your bank by reviewing and assessing items such as your existing vision, possible changes in direction, challenges and opportunities within the bank, personnel development needs, team dynamics, ownership, management effectiveness, etc.  We then work to develop and implement solutions to achieve your desired outcomes.

Risk Management 

Risk surrounds us in our daily lives.  Some risks are insured, some risks are managed and others are just accepted.  Our team of professionals has observed first-hand the impacts of uncontrolled and unmitigated risk on a business.  The first step toward managing risk is to identify those risks with the greatest potential for occurrence and severity. We work directly with management and institution owners to develop processes, procedures and insurance coverages to address the areas of greatest concern.

IT Risk management 

Acquisition consulting

  • Systems evaluation
  • Staff evaluation and integration
  • Processes and procedures

Please contact Angela Murdo, our Financial Institutions Specialty Team Leader, to talk about how we can meet your unique needs. She can be contacted by email or at 406.442.1040.

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