Financial Institutions

The Benefits of BSA Staff Augmentation for Banks

Financial Institutions face a unique set of challenges and responsibilities, especially within their Bank Secrecy Act (BSA) departments. An institution’s BSA/AML staff is the first line of compliance for AML and counter-terrorism financing regulations. This group of all-too-often unheralded compliance heroes can include a variety of roles, including case analysts responsible for reviewing transactions/alerts flagged…

Read More

Banking on Fintech: Key Considerations for Banking as a Service (BaaS)

Over the last several years, technological advancements have transformed our lives, revolutionizing the way we connect, work and live. We leverage many applications on our phones and other devices to perform everyday tasks, including financial transactions. These apps may be utilized to send money quickly to others, purchase and sell products/services through electronic marketplaces, load…

Read More

Mercadien Announces Executive Promotions; Names Three New Partners

Princeton, NJ & Philadelphia, PA – Mercadien is pleased to announce several promotions within the firm’s corporate leadership team.  Ms. Melissa Correa, CRCM, a member of the Financial Institutions Services Group, was promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs (the official titles of firm partners). Melissa has been…

Read More

Mercadien Celebrates 60 Years of Serving Our Clients & Community

Princeton, NJ & Philadelphia, PA – Mercadien, a leading accounting and advisory firm in New Jersey, is proud to announce its 60th anniversary of providing exceptional accounting, tax and advisory services to clients across various industries, including private companies, financial institutions, government entities, nonprofit and human service organizations and individuals and families. Since its establishment…

Read More

Model Governance: How to Formalize the Program

As a small financial institution, you may not have formalized a comprehensive model risk governance program. Model governance refers to the framework and structure an institution establishes to oversee and manage its models effectively. Such a program is to be in accordance with the Office of the Comptroller of the Currency and Federal Reserve Bank…

Read More

7 Ways to Enhance Your Compliance Function

Ensuring your bank’s compliance function is effective and meeting expectations is of the utmost importance to regulators. This is evident through the design of the examination process and creation of a standalone regulatory agency focused on consumer compliance, in addition to an increasing number of regulatory changes and enforcement actions in recent years. With that…

Read More

10 Ways to Protect Your Institution During Uncertain Times

We’ve all read the shocking news of recent financial institution failures. We’re also well aware of quickly rising interest rates and volatility in the market. Regulatory scrutiny is coming, and your institution’s asset/liability and liquidity management (ALLM) processes will fall under more intense review. Are you ready for that? Let’s start by looking at how…

Read More

Mercadien Announces Executive Promotions; Names Three New Partners

Princeton, NJ & Philadelphia, PA – The Mercadien Group is pleased to announce several promotions within the firm’s corporate leadership team.  Ms. Bjondina Karpuzi, CPA, PSA, a member of the Private Company and Advisory Services Groups, was promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs (the official titles of…

Read More

Webinar Replay: Why You Should Validate Your CECL Model

Mercadien’s Financial Institutions Services Group hosted a complimentary webinar “Why You Should Validate Your CECL Model” Thursday May 12, 2022 from 1-2:30 PM.   Presenters Joseph Galdo, CPA, CAMS, CFE, CERP, Director & David Healey, Supervisor reviewed the CECL readiness and model validation process, as well as considerations and best practices relating to CECL. During the webinar,…

Read More

How Independent Loan Reviews Can Mitigate Risk to Your Institution

Banks and financial institutions rely on the insight from independent loan reviewers to uncover potential risks embedded in their loan portfolios. As part of standard practice, financial institutions engage independent entities to review their loan portfolios, ensuring no undue risk may affect the Bank’s overall asset quality and capital composition. An independent review of the…

Read More