Operate more efficiently and effectively by verifying your organization’s compliance with trust and fiduciary regulatory requirements—whether you’re navigating regulations, dealing with pressure to reduce fees, or juggling the increasing complexities of managing your clients’ accounts.
We provide support for:
- Trust departments operating within a financial institution
- Stand-alone trust companies
- Directed custodians
Key Focus Areas
Guide Trust Administration
Verify your organization’s adherence with applicable trust laws and regulations through a detailed test of new, closed, and existing trust accounts.
Considerations of the examination include adherence to the governing account instrument, needs of account beneficiaries, prudence in asset administration, avoidance of conflicts of interest, appropriateness of your organization’s fees, and more.
Manage Fiduciary Investments
Meet investment-related fiduciary standards by reviewing the decision-making process used for the selection, retention, and preservation of discretionary assets.
Assess whether financial risks embedded in account portfolios are appropriate, the timing and completeness of annual account reviews, and monitor your fiduciary assets for trends and related risk exposures.
Support Trust Operations
Verify compliance with related fiduciary requirements through reviews and tests of operational controls over vault contents; segregation of duties; distributions; disbursements and income processing; reconciliation; and monitoring of custodial accounts, irregular income, and worthless securities.
Manage Trust Real Estate
Verify the real estate your organization owns is handled in accordance with governing instruments by reviewing assets for appropriate titling and documentation of security interest, appropriate inspection and appraisal, and adherence to the governing instrument.
Determine agency agreements and appropriate monitoring is in place in cases where property is managed by others.