- Enforcement Action and Regulatory Response
Matters Requiring Attention, Cease and Desist or Consent Orders
Much of what Dominion does is work with institutions responding to regulatory enforcement action or regulatory findings that if not addressed quickly and effectively, will lead to an enforcement action. Dominion understands the pressure enforcement actions put on a bank’s management team and the how the large volume of work needed to correct problems needs to be planned, organized and executed. Over a dozen institutions have called upon Dominion to help navigate through enforcement actions.
Always unpleasant and always more work than imagined, Look Backs are sometimes required by regulators and law enforcement. In these cases banks need a firm whose entire team is deeply experienced in the set up, execution and management of these large, complex projects. Dominion’s record of achievement in this area is among the most notable in the industry.
Dominion has managed the industry's largest and most complex AML development and remediation projects. We use advanced case management, quality control and productivity measurement tools so we can maintain our commitment to deadlines and budgets while ensuring our clients are thoroughly prepared for the next regulatory examination.
Preparing for an AML regulatory examination can be overwhelming, particularly with regulator’s expectations continuing to rise. A poor exam can ruin reputations and harm a bank’s efforts to grow or even maintain market share. Executives whose time and energy become consumed with responding to weaknesses uncovered in examinations are executives who cannot effectively lead business expansion. The assistance Dominion provides to BSA Officers in preparing for examinations reduces the risk of a negative outcome.