Compliance & Risk Management

Regulations faced by banks cover key areas of risk, competition, and social concerns as determined by government action. A wide array of processes and technology are deployed by financial institutions to address risks and regulations, and various audits and assessments are required to test and prove adequate controls are in place. Some regulations related to account openings and money movement — like BSA, OFAC and AML – require intense scrutiny at the transaction level and complex algorithms and detection methods to protect bank clients while complying with government mandates.

Banks must also combat fraud and help educate customers on a variety of fraud prevention and information security techniques.

The Norman Group has deep experience with financial institution and fintech compliance and risk management, and helps clients execute projects, audits and assessments across products and banking departments, including:
  • BSA, OFAC, and AML
  • Fraud Detection & Prevention
  • Audits & Assessments
  • Information Security
  • Business Continuity Planning
  • Asset End of Life Programs

Case Study

From our Compliance & Risk Management practice The Norman Group partnered with a regional bank to inventory and review each of the 100+ Business Continuity Plans for each of the bank’s software applications, as well as BCPs for hardware and network infrastructure. These plans were updated, standardized, and tested in preparation for migration to ServiceNow.