Deposit Compliance Audit

Adherence to customer compliance depository regulations and guidelines is crucial to a sound compliance program. Yet news or regulatory fines continues to emphasize that many financial institutions still struggle with compliance. If you've been one of those institutions or just want to avoid being in that position, 10-D Compliance can assist with comprehensive deposit auditing services that help ensure your institution is meeting regulatory expectations and protecting your depositors.

Our Deposit Auditing Services

10-D Compliance professionals use their expertise with compliance audit requirements to identify and reduce known risks in your institution's consumer deposit programs and products. Our process begins with a discovery meeting, where we identify the types of deposit programs offered by your financial institution and ascertain the types of challenges your organization may be facing. From there, we establish a time frame best suited for your schedule and define your specific needs.

Then, we'll conduct a thorough review of your operations to determine your compliance with:

  • Regulation D, specifically the Reserve Requirements for Depository Institutions Act.
  • Regulation CC, also known as the Expedited Funds Availability Act.
  • Regulation DD, the Truth-in-Savings Act.
  • Regulation E, the Electronic Funds Transfer Act.

Once completed, our written report provides individual risk scores for each identified exception and summarizes your institution's overall deposit compliance risk. We use a report format that is easy to read and interpret plus helps you prioritize remediation efforts.

The Scope of Work

Our professionals have years of compliance experience with backgrounds stemming from working directly in financial institutions as operations staff, compliance officers, and BSA personnel. We understand industry regulations and requirements and have worked with hundreds of financial institutions on a variety of regulations to enhance their compliance programs and help ensure they are meeting regulatory expectations.

During our audit of consumer deposit programs, we work closely with relevant staff and will also review the following elements: 

  • Deposit product offerings. 
  • Written policy and procedures. 
  • Account agreements and applications.
  • Staff training. 
  • Samples of accounts and transactions. 
  • Action to correct prior audit or examination criticism. 

Contact 10-D Today

Adherence to consumer deposit regulations is critical to your institution's overall compliance stature. if you want to improve processes or monitor your compliance yearly, audit services from 10-D can help. We alleviate some of the work from your team and ensure you follow critical guidelines and industry standards.

Our team streamlines all audits with years of industry experience for fast, actionable results. Request your personalized quote online or contact a 10-D Compliance specialist to learn more.

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The 10-D Compliance Difference
  • Our audits are performed by former compliance officers, auditors, and examiners with vast experience of the inner workings of financial institutions AND in-depth compliance knowledge.
  • We provide concise, professional, and easy to read reports delivered promptly.
You would benefit from a 10-D
Deposit Compliance Audit if
  • You require quick turnaround of reports and deliverables.
  • Your budget constraints do not allow for “Big Accounting Firm” prices.
  • Your management values their time and lacks resources to conduct their own audits.

Keep your institution off the evening news.

Contact Us