AuditLink Compliance and Auditing
Compliance and auditing tasks are absorbing valuable resources at a rate that is simply unacceptable to most credit union managers. From the initial policy, procedural, and system configuration review to the periodic monitoring, we believe we can provide a consistent and focused view of your operations.
Reports in CU*BASE provide tools for staying on top of all daily monitoring activities. Audit Link reports let you monitor delinquent accounts, high end or suspicious transaction activity, verify and review BSA activity, monitor wire transfers on OFAC or FinCen identified accounts, audit teller and insider activity and troubleshoot member maintenance issues.
Our network partner Xtend also can review BSA, Reg D, Reg C, FIDM, OFAC, and other activities versus having these tasks spread among multiple credit union employees. The result is a centralized focus and consistent reporting methodology to the management team. This allows the credit union to redirect its internal staff to other important activities. Audit Link features a consistent stream of audit reports presented to each client’s management team, and delivers a high level of internal audit processes for which many credit unions have been lacking.
Development to bring even better compliance tools for credit unions is upcoming including making your 5300 reporting to NCUA easier and more automated using the CU*BASE software.