Financial Institutions

Financial Institutions2018-11-14T16:40:02+00:00

CRI can help you rise to the unique challenges facing financial institutions in today’s constantly changing regulatory environment.

Financial institutions face a variety of unique challenges, including – but certainly not limited to – heightened regulatory scrutiny. CRI understands these complexities and has ascended to become the South’s premier provider of accounting, auditing, and risk management services to financial institutions by serving 150+ community banks, credit unions, finance companies, and mortgage companies. In addition to traditional audit & tax services, our professionals have a high level of industry and functional expertise in providing risk management services, including:

The service approach of our financial institution services team embraces the highest standards of our profession while simultaneously elevating proactive partner involvement, independence, and industry accounting knowledge. Because of CRI’s industry specialization, our professionals can add soaring strategic value to our relationships by offering insights into emerging trends and issues, such as the latest regulatory developments and mounting requirements. Plus, our industry leaders maintain close communication with accounting rule-makers, regulators, and leading industry professionals.

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Financial Institutions Featured Services

Bank Secrecy Act/Anti-Money Laundering Compliance
Consumer Compliance
Credit Risk Management

As a HITRUST CSF Assessor, CRI can perform assessment engagements for clients seeking HITRUST Validation or Certification reports. We can also assist clients with the adoption of the CSF framework, implementation, and remediation efforts following adoption. Visit the HITRUST Alliance website for more information.

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Solutions Simplified

Down-to-earth descriptions of our services.
Accounting & Auditing Services

Advisory Services

Services Also Available for Financial Institutions

Financial Institution Directors’ Examinations

A financial institution’s audit committee or board of directors is responsible for deciding what type of external auditing program best meets the needs of the institution based on its size and complexity. Directors’ examinations are applicable to some banks while opinion audits are the only option available to others. CRI’s specialty in servicing community banks, credit unions, and other financial institutions means that we know the right questions to ask of directors to determine their highest risk areas.

Financial Institution Loan Reviews

Having and following strong loan underwriting procedures are critical steps for building and retaining the financial strength of community banks. CRI can assist the bank in assessing the strength of their loan portfolio by testing the loan underwriting and risk grading process. Additionally, we help financial institutions strengthen these procedures for their future lending activities to reduce the risk of a weak portfolio – which could negatively impact profitability (and safety and soundness) due to losses from bad loans.

Business Support & Transactions Services

Employee Benefit Plan Services

Governance, Risk & Assurance Services

Services Also Available for Financial Institutions

FFIEC Assurance Services

The financial institution environment is driven by electronic transactions, making adherence to the Federal Financial Institutions Examination Council’s (FFIEC’s) guidelines for cybersecurity and IT controls a critical aspect of a financial institution’s business. Adapting the guidelines to your institution’s unique product and service offerings requires an understanding of the guidelines, a depth of IT technical knowledge, and financial industry experience. Our team of IT audits & assurance professionals stays abreast of the changing landscape. Additionally, the team possesses not only the technical skills to test IT controls, but also the necessary financial experience to present the results in “plain English” to board and audit committee members. From encryption to penetration testing (and everything in between), our services are designed to thoroughly test and evaluate your controls – and, in turn, help you sleep better at night.

FFIEC IT Risk Assessments

Completing an IT risk assessment can seem complicated and confusing for a financial institution. CRI’s IT audits & assurance team uses a unique data flow to make the complicated and confusing easy to understand. For your individual financial institution, we tailor the risk assessment to meet the FFIEC compliance requirements (including those related to cybersecurity risk) and convert the risk assessment into a dynamic tool that drives the organization’s IT environment, activities, board monitoring requirements, and – ultimately – the IT audit.

IT Audits & Assurance Services

Tax Services