Improve your Compliance Program

Professional Services

The regulatory landscape is always evolving, and new requirements are being placed on financial institutions, therefore it is important that you are prepared for your next regulatory exam or resolve items from previous exams and have confidence that your overall BSA/AML program is protecting your institution from any serious findings or deficiencies.

PayLynxs has partnered with TRC Advisory to provide in-depth BSA/AML professional consulting services.  Our scope of services is geared towards helping institutions prepare for their next exam.  Services may include, but are not limited to, the following.

Review your risk assessment to determine whether the system is being optimized, based upon the FI’s products, services, customers, geographical locations, and transactional volume.

Perform gap analysis of the FI’s BSA/AML Program to determine validate rules and risk rating criteria. The gap analysis will consider money laundering concepts from the following sources:

    • Financial Action Task Force (FATF)
    • Federal Financial Institutions Examination Council (FFIEC)
    • Financial Crimes Enforcement Action (FinCEN)
    • Basel Committee on Banking Supervision
    • Wolfsberg Group
    • European Union Directives

Compare existing policies, procedures, and practices to the current BSA/AML monitoring to recommend updates or changes.

Evaluate current rule configurations relative to historical transaction activity and recommend adjustments to better align with the institutions risk.

Perform validation exercise to verify transactions needed for BSA/AML monitoring are being received, correctly formatted and mapped for monitoring and risk rating and make recommendations for any gaps identified.

Provide recommendations for automating any other manually processes supporting your BSA/AML program.

Provider a summary of recommendations for the most important changes to implement prior to your next examiner audit.

Defining a plan to resolve past examiner findings, when applicable.

Contact us today

Contact us today to review your goals and objectives relative to improving your BSA/AML program and let us provide you with a customized scope of work to meet your needs.  

Our vaules

What sets us apart

Making a good product easy, but we go beyond that to ensure our clients are truly taken care of.

Simplicity

Easy to use products streamline your day-to-day tasks

security

Industry-leading security practices ensure your data stays safe

flexibility

We focus on solving the unique problems for each of our clients

transparency

Healthy relationships are built on trust, and we’re an open book

excellent service

Dedicated and friendly support staff is always happy to help

innovation

New features and functionality are constantly being developed

Our vaules

What sets us apart

Making a good product easy, but we go beyond that to ensure our clients are truly taken care of.

Simplicity

Easy to use products streamline your day-to-day tasks

transparency

Healthy relationships are built on trust, and we’re an open book

security

Industry-leading security practices ensure your data stays safe

excellent service

Dedicated and friendly support staff is always happy to help

flexibility

We focus on solving the unique problems for each of our clients

innovation

New features and functionality are constantly being developed and delivered