Audit & Compliance Operations
compliance first banking solutions
Compliance in banking can be more than a full-time job. It requires implementing constantly changing regulations from a complex banking and regulatory system at both the state and federal level. With all this complexity, it is important to have a compliance team that is expert in the field and ready to implement a new solution or identify issues before they become a problem for your bank. Compliance First Banking Solutions is here to help! With customizable compliance solutions, our team of compliance experts and audit professionals can help your bank with a tailored approach.
While the Compliance First Banking Solutions name is new, our commitment to helping Kansas banks is not. CFBS was established in 2022 as a home for our newly offered service providing expert outsourced compliance to banks. Moving our extensive audit services, formerly provided through Kansas Bankers Consulting Services, under the CFBS umbrella was the perfect way to create a comprehensive compliance solution for Kansas banks.
Compliance First Banking Solutions offers full scope compliance audits as well as customizable options that can help save you time and money. CFBS auditors include Kansas-licensed attorneys, Certified Regulatory Compliance Managers (CRCM), and Accredited ACH Professionals (AAP). Because we specialize in auditing community banks, our auditors have gained valuable knowledge by auditing year-round, and have likely audited a bank like yours recently. This allows CFBS auditors to spot and address examiner’s hot topic issues before they walk in your bank’s door.
CFBS offers audits that can be conducted onsite at your bank or remotely, giving you the flexibility to decide what works best for your bank. You can also choose to contract for one or more audit areas without having to commit to multiple year agreements.
CFBS offers the advantage of having other KBA services standing behind it. For example, if a training problem is detected during an audit, CFBS can refer the bank to KBA’s education services, which can provide the bank with targeted solutions to help resolve issues. If your bank is a member of Kansas Bankers Consulting Services, your bank can utilize KBCS services like policy revisions to assist with audit recommendations once the audit is completed.
CFBS offers many different regulatory compliance audit services, including:
- BSA/AML & OFAC
- Fair and Accurate Credit Transactions Act & Fair Credit Reporting Act
- NACHA Operating Rules
- Electronic Funds Transfer (Reg E)
- Expedited Funds Availability (Reg CC)
- Privacy of Consumer Financial Information (Reg P)
- Bank Protection Act / Security Review
- Interest on Deposits (Reg D)
- Truth in Savings Act (Reg DD)
- Unlawful Internet Gambling Enforcement Act (Reg GG)
- Garnishments and Levies
- SAFE Act (Reg G)
- Home Mortgage Disclosure Act (Reg C)
- Real Estate Settlement Procedures (Reg X)
- Truth in Lending (Reg Z)
- Equal Credit Opportunity Act (Reg B)
- Insider Lending (Reg O)
- Homeowners Protection Act
- Fair Lending
- Flood Disaster Protection Act
- Interagency Appraisal Requirements
- Servicemembers Civil Relief Act & Military Lending Act
- Kansas Uniform Consumer Credit Code
Kansas Bankers Consulting Services members receive a 10% discount on all audits conducted by CFBS.
outsourced compliance consulting
CFBS offers both long-term compliance management and short-term compliance organization. Our long-term management approach allows our dedicated team to work within your bank for an extended period, developing relationships of trust with your employees and learning what makes your bank and community unique. Here, our compliance specialist can take on the functions of a compliance officer to create and implement a permanent compliance solution and oversee your Bank’s staff as they handle the day in and day out compliance work.
A short-term approach may be preferred for some banks. CFBS can instead work hand in hand with your bank’s compliance officer. Working within your Bank’s structure, our compliance specialist will create a tailored compliance management approach to identify and resolve compliance issues and help train your compliance team to implement strong standards and processes.
There is no one size fits all approach to compliance. CFBS will work closely with you to tailor a compliance solution to fit your bank’s needs. We offer a whole team of compliance experts which will reduce the burden on your employees so they can focus on serving your customers and community.
Contingency planning is a constant concern for community banks. With CFBS, your bank will never be without a compliance specialist. CFBS has multiple compliance experts at its disposal to help prepare your bank for what’s next.
“Regulators push for a culture of compliance from the top down and recommend taking a risk-based approach. My goal is to make compliance part of everyday operations, so it becomes second nature. This is achieved by being proactive and transparent, and sharing knowledge and expectations with every member of the team.”
Erica Friedt, CFBS Compliance Operations Specialist
other services available with CFBS
Quarterly Compliance Forum
The Quarterly Compliance Forum is a live Zoom series featuring topics of discussion that center around current compliance and legal issues impacting Kansas banks as well as repetitive issues that have been spotted during audits and how to correct them.
The forums are led by Neal Barclay, CRCM, Lewis Walton, J.D., and Jeff Narron, CRCM, CCBCO, AAP, and occasionally feature a guest speaker from the CFBS team. Sessions usually last 45-60 minutes and are also recorded and distributed for your convenience.
This series is included in the annual KBCS membership fee. However, any KBA member may sign up for all four 2022 Quarterly Compliance Forum sessions at a price of only $275. This price is for all four 2022 Quarterly Compliance Sessions. KBA members may sign up at any time during the year, and any previously recorded sessions from 2022 will be provided to you at that time.
Speaking Engagements & Personalized Training Sessions
CFBS offers banks the opportunity to host personalized compliance training sessions for bankers and compliance teams. Training can be conducted in a one-on-one setting or for a group and will be customized to fit your bank’s needs.
Why Choose cfbs?
Compliance First Banking Solutions is making a positive impact on Kansas banks! We work to make sure that you are completely satisfied with our services, and we can personalize our programs to fit your bank’s needs.
“We found ourselves in a quandary when the bank’s compliance officer gave notice to begin a new position this past year. Finding a replacement, properly educating, and maintaining an existing acceptable regulatory rating at a community bank is no small task. We called the Kansas Bankers Association for help, explained our dilemma, and they had the answer. [Compliance First Banking Solutions] is one of the greatest moves we have made in compliance. They have one of the most renowned legal departments in the nation. Well trained, up to date, a great staff that has worked well with all our people. Just what we needed, just what we expected from our KBA.”
Frank Carson IV, President & CEO
“Community National Bank & Trust is greatly pleased with our relationship and the high-quality audit work performed by [Compliance First Banking Solutions], affiliated with the Kansas Bankers Association. Terri Thomas and her staff have provided tremendous expertise, efficiency, affordability, and educational training through their audit work and multiple seminar topics ranging from Compliance, IT, and Internal Audit.
Bringing that expertise to work in audit engagements has been a great benefit that Community National Bank & Trust has used for our Compliance audits, Advertising, Deposit and Loan Compliance along with HMDA and BSA/AML.
I would highly recommend that community banks throughout the Midwest consider the value that [CFBS] will bring to your financial institution. Please call me personally, if I can assist with questions regarding their fine work.”
Dan Mildfelt, President & CEO
Community National Bank & Trust