Complying with complex regulatory demands is a business constant for today’s financial services and insurance companies. So too is minimizing risk to safeguard organizational and customer data in the face of many factors, including more rigid consumer privacy laws, a global business environment and growing threats to cybersecurity.
As the focus on implementing successful risk and compliance programs grows, the need for expert IT resources grows with it. More and more, financial services organizations and insurers are deploying increasingly sophisticated applications to manage regulatory compliance and mitigate risk.
SynergisticIT has experience conducting assessment and remediation services at banking institutions to ensure compliance with US Treasury Department OCC FFIEC Standards. This includes:
- Vendor Due Diligence
- IT Risk Assessments
- Financial Crimes (AML)
- Incident Response Plans
- SARS Management
- Policies and Procedures
Dodd-Frank Stress Test (DFAST/CCAR)
Dodd-Frank Act stress testing (DFAST) and the Comprehensive Capital Analysis and Review (CCAR) are exercises conducted by the Federal Reserve Board (FRB) to assess whether large Bank Holding Companies (BHCs) have sufficient capital to absorb losses through stressed economic conditions. Through our strategic leadership role in The FinPro Alliance, SynergisticIT is able to expand its talent coverage to include DFAST/CCAR SMEs when needed. See The FinPro Alliance.