Compliance Services

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ACH Audits & Risk Assessments

Strengthen your ACH operations in compliance, risk controls, and efficiency. Allow your trusted SFE advisors to conduct your annual ACH Audit and recommended Risk Assessment.

Find the details of service you will receive by expanding the sections below. You can also find additional compliance services for financial institutions for thorough reviews of your RDC, Wire Transfer, and Real-Time Payments processes.

When you bundle services or schedule your compliance services to be completed before July 1st, you are eligible for rate discounts. 

REQUEST FOR PROPOSAL

Financial Institutions

Originator Compliance Review

Third-Party Senders

Third-Party Service Providers

RDC Risk Assessment and Audit of Internal Controls

Southern Financial Exchange's (SFE) RDC Risk Assessment and Audit of Internal Controls reviews the financial institution's compliance with FFIEC Guidance. The various methods for using RDC within the financial institution are covered including mobile RDC, branch/teller capture, and merchant capture. Allow one of SFE's payments experts to analyze your institution's RDC compliance, internal controls, and risk management process.

The SFE RDC Risk Assessment and Audit of Internal Controls service includes:

  • Prior to and onsite checklists
  • Client questionnaire
  • Review of sound business practices and internal controls
  • Review of agreements
  • Exit interview
  • Written report including findings and/or recommendations
  • Risk Assessment Certification form
  • Access to auditor for questions

REQUEST FOR PROPOSAL

Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.

Wire Transfer Risk Assessment and Audit of Internal Controls

Wire Transfers are becoming more of a focus for regulatory agencies during yearly exams. Wire transfers are attractive to business customers and consumers because they allow funds to settle same day, additionally, wire transfers are irrevocable; both attributes make wire transfers a significant risk. Let one of our payments experts complete an assessment of your institution's wire transfer program to ensure your program is following regulatory guidelines. The service includes review of compliance with FFIEC Guidance. All methods in which the financial institution receives wire requests are considered during the review.

The SFE Wire Risk Assessment and Audit of Internal Controls service includes:

  • Prior to and onsite checklists
  • Client questionnaire
  • Review of sound business practices and internal controls
  • Review of agreements
  • Exit interview
  • Written report including findings and/or recommendations
  • Risk Assessment Certification form
  • Access to auditor for questions

REQUEST FOR PROPOSAL

Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.

Faster Payments

The Clearing House requires all Real Time Payments (RTP) Participants to complete an annual audit to verify compliance with the RTP Participation and Operating Rules, as required by RTP Operating Rule IX.A.2.  Who better to conduct your institution’s RTP audit than your resource for electronic payments information and training? A Southern Financial Exchange payments expert can conduct your RTP audit and examine each facet of your RTP operations. The audit includes a review of compliance with the RTP Participation and Operating Rules, review of online banking products using RTP, areas of compliance, and review of procedures related to processing RTP payments. Southern Financial Exchange is a licensed Direct Member of Nacha and our team of consultants are payments experts. 

The SFE RTP Audit service includes:

  • Service checklists
  • Client questionnaire
  • Review of sound business practices and internal controls
  • Review of agreements
  • Opening and Exit interviews
  • Written report including findings and/or recommendations
  • Certification of Audit Form
  • Access to auditor for questions

REQUEST FOR PROPOSAL

Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.