Crowe® Program Assessment Road Map (Crowe PAR) Offers a Proactive Approach to Regulatory Compliance
As the regulatory environment becomes more complex and the costs of noncompliance continue to grow, it is important for financial institutions to know in advance – before regulators arrive – whether the institutions’ compliance programs are likely to satisfy requirements. Crowe Horwath LLP helps banks assess their programs’ maturity and develop specific plans for improvement through the comprehensive Crowe PAR process.
How Crowe PAR Works
A Crowe PAR engagement begins with a thorough assessment of the state of a bank’s compliance program maturity, including an objective comparison with current standards and best practices. Drawing on decades of industry experience and using proprietary frameworks as their guide, Crowe professionals develop a comprehensive list of improvement opportunities with corresponding recommendations for action.
Issues Crowe PAR Can Address
A Crowe PAR assignment can assess virtually any area of concern including:
A Strategic Plan for Action
The key to the Crowe PAR process is the development of specific remediation activities for each identified area for improvement. Crowe provides recommendations across a full spectrum of alternatives, allowing banks to tailor their future-state implementation plan – from the minimum recommended for basic compliance to meeting or exceeding industry best practices.
The final output of the Crowe PAR process is a detailed road map of activities charted on a timeline designed to fulfill recommendations and advance each program to the desired level of compliance, efficiency, and sustainability.