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BMC Compliance

Audit, Vendor management and Gap Analysis

BMC provides compliance audit services to clients as well as a GAP analysis and assistance in vendor management and oversight. These services include initial audit of the compliance function to determine deficiencies. Services also include periodic audits of specific areas of compliance such as AML, Fair Lending, UDAAP and more. In addition, we can perform a GAP analysis of policies and procedures to determine deficiencies. Finally, we assist clients in managing vendor relationships

Audit Work:

Audits are a cornerstone of your compliance program.  It is one way your organization ensures that they are adhering to federal regulations, company policies and industry standards.  We provide comprehensive audit solutions whether you are looking to review your own program or if you are looking for an independent review for one of your partners.   Our experienced auditors will work with you to identify your specific needs.   Every audit will finish with a full summary and recommendations regarding your compliance management system.  

Gap Analysis:

Each new engagement starts with an analysis of your current Compliance Management System (CMS) and Compliance Management Program (CMP). Our audit team delivers a Gap Assessment at the conclusion which will include observations regarding regulatory requirements and best practices.  This analysis will provide your team with valuable insight into where opportunities exist with your current compliance efforts. 

Vendor Management:

The idea of outsourcing risk away is no longer accurate.  Your responsibility often extends to the actions of your partners.   This includes onboarding, risk assessments and ongoing review of your vendors.  We can assist you in building and/or managing your third party oversight program.   Our compliance team will work with you to customize your vendor management program that will provide reasonable assurances into the activity of your partners.  

Additionally, BMC can provide training on all applicable policies and procedures to mitigate external audit findings. The lender and its vendors will be trained to monitor and react to non-compliant activities.

Audit, Vendor management and Gap Analysis