We Understand Your Challenge
Financial institutions (FIs) of all sizes realize that to compete in today’s environment, they must offer customers advice and products that can improve quality of life. As the economy puts increasing pressure on net interest margin, FIs are investing in technology and fee businesses to compete. At the same time, banks must maintain capital and liquidity, and navigate consumer protection rules.
Regulators and investors have never been more attentive to safety and soundness. The Dodd-Frank Act and recent Regulatory Relief Act will need to be viewed together. The CECL accounting for loan losses is the most dramatic in bank accounting history. HoganTaylor is experienced and possesses deep industry-specific knowledge to assist with your challenges.
Consequently, accounting and auditing services for financial institutions must be performed within very precise deadlines and in a manner that clearly demonstrates a high degree of industry specific knowledge. Regulators and investors look to this as a sign of the financial institution’s stability and credibility. We understand how important our role is in helping you keep your institution on solid ground.
We Have Been There
Our Financial Institutions practice team have been serving in and for financial institutions for decades, and possess both industry and Big Four experience:
- Randy Nail, CEO, serves on our Financial Institutions Practice team and has served FIs, including at a Big Four firm, for over 30 years
- Richard Wright, Oklahoma City Managing Partner, has served financial institutions for more than 25 years
- We are PCAOB certified and the largest public accounting firm in Oklahoma and Arkansas–our team included financial institution experts serving in assurance, tax and advisory capacities
Challenges you are facing, we have probably faced in similar situations. As opposed to a one-size-fits-all approach, we bring practical solutions and tailor our service approach to fit your unique needs and audience.
We Listen, We Value Your Opinion
We provide assurance, tax and advisory services for FI clients. Our approach, very simply, depends on your needs. Planning and communication, not only with you, but among our team members is fundamental to our service approach, and is a Firm requirement:
- Partners and managers with local decision-making authority work directly with you
- Because we offer employees a work-life balance and a challenging and rewarding career, your service team has continuity
- Our client satisfaction surveys say clients would use HoganTaylor again and would recommend us to others, yet we continuously improve
Our Financial Institutions Services
We serve banks, credit unions, investment advisors, service organizations, trade associations, custodians, trusts and benefit plans, of all structures and sizes, including:
- Internal audit and loan review outsourcing or assessment
- FDICIA or PCAOB internal control testing, design or readiness
- Board, executive or employee training
- Loaned executive or loaned staff
- Mutual fund or common fund audits or agreed-upon procedures
- CECL or ALLL assessments and compliance
- Asset valuation, including OTTI, goodwill and intangibles
- M&A valuation, including due diligence and purchase accounting
- Litigation support services, including regulatory remediation activities
- Model validation, including stress test and fair value models
- Derivative trading practices and policies assessment
- Third-party vendor assessments
- Executive and employee incentive compensation compliance
- Enterprise risk management or risk control assessments
- Compliance management system design and consulting
- Mortgage compliance and consulting (SAFE Act reviews, HUD compliance, etc.)
- Fair lending risk assessments or HMDA data integrity analysis
- Consumer product risk assessments (UDAAP, overdraft policies, etc.)
- ACH and NACHA audits
- Income tax outsourcing and tax accrual calculations
- IT and operational risk assessments, attack and penetration testing
- …and much more
We also serve financial institution Board members, executives and philanthropic endeavors and their beneficiaries.