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 rate environment puts increasing pressure on net interest margin, FIs are investing in technology and fee businesses to compete. At the same time, banks must build capital according to the new Basel III rules and navigate new consumer protection rules.
Regulators and investors have never been more attentive to safety and soundness. The Dodd-Frank Act will take time and will require significant input from FIs if it is to work as intended. Firms assisting FIs must be experienced and possess 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:
- Our lead Financial Institutions Partner was the audit and risk executive for one of the largest financial institutions in the Southwest for nine years, and served FIs at a Big Four firm for 15 years.
- Our CEO serves on our Financial Institutions Practice team and has served FIs, including at a Big Four firm, for over 30 years.
- The Financial Institutions Practice team also includes the Firm’s lead assurance partner, managers and seniors – CPAs with strong technical and industry experience, many with Big Four experience.
- We are PCAOB certified and the largest public accounting firm in Oklahoma and NW Arkansas.
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, brokers, investment advisors, service organizations, trade associations, custodians, trusts and benefit plans, of all structures and sizes, including:
- Internal audit outsourcing or assessment.
- Board recruitment.
- Board, executive or employee training.
- Loaned executive or loaned staff.
- Mutual fund or common fund audits or agreed-upon procedures.
- 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, etc.).
- Fair lending risk assessments or HMDA data integrity analysis.
- Consumer product risk assessments (UDAAP, overdraft policies, etc.).
- Bank Secrecy Act advisory services and independent testing.
- Income tax outsourcing and tax accrual calculations.
- IT and operational risk assessments, reviews or special projects.
- …and much more.
We also serve financial institution Board members, executives and philanthropic endeavors and their beneficiaries.