Compliance Monitoring Solution: AffirmX

Combining user-friendly workflows with expert analysis and a risk-based dashboard, this cost-effective product can be customized to meet your needs.  

AffirmX is the industry-leading compliance solution, providing credit unions with a palette of service offerings that systemizes checks and balances and is essential for safety and soundness.  As part of the AffirmX advantage, our panel of compliance experts conducts a thorough analysis behind the scenes by examining internal and external factors, taking your compliance to the next level based on risk.  AffirmX’s patented technology together with our risk-intelligence analysts will deliver the solution your credit union needs, for far less than the traditional audit and review service.

By combining user-friendly workflows with expert analysis and a risk-based dashboard, AffirmX helps your team stay ahead of compliance issues covering core functional areas of your credit union including: Advertising and Marketing, Bank Secrecy Act, Compliance Management, Deposits Operations, Lending (Consumer and Real Estate) and Operations.

In addition to the Compliance Monitoring solution discussed above, AffirmX offers a suite of solutions including Fair Lending Assessments; Loan File Reviews and Internal Audit Outsourcing – just to name a few.

BSA/ACH/Website and SAFE Act audit package.
Experience how easily AffirmX can help reduce risk management workloads, anxieties and costs with our Four Report Package, each of which is critical to a healthy compliance program: BSA Independent Audit Annual ACH Independent Audit; Annual SAFE Act Independent Audit; Website Compliance Review (any audit may be omitted with a price reduction).

Internal Audit – Outsourcing.
Leverage the patented AffirmX Risk Intel Platform to conduct internal control audits remotely, saving you time away from serving members, saving you money from traditional approaches and saving you from distractions of onsite work or worry of internal fraud.  For independent and ongoing control audits, simply upload applicable documents to the secure environment, where you will also find completed reports.  Detailed reports of findings and recommendations for addressing noted deficiencies are provided with every audit.  If you desire, AffirmX can also deliver an annual report, which may be invaluable at examination time.

Comprehensive internal audits are easily customized to meet your needs and can be used to cover:

• New/Declined Accounts, Products or Services
• Core System and Report Monitoring
• Accrued interest greater than scheduled payment
• Accounts with P.O. box addresses
• Cash transactions over $10,000
• Cash payment on loans
• Credit card disputes & charge back processing
• Dormant share accounts
• File maintenance reports
• First payment date over 45 days from loan origination
• High-balance and negative balance account review
• Insider reports
• Non-sufficient funds analysis
• Non-payment within previous 90-day analysis
• Non-amortizing loans
• Paid ahead loans
• Supervisory override reports

 
The Dakota Credit Union Association (DakCU) assists member credit unions in finding cost-effective solutions to help reduce regulatory and compliance burdens. Contact Amy Kleinschmit for a demo, pricing, and questions on any of these solutions at 701-250-3964.