HEIT, a provider of cloud-delivered managed services for community financial institutions, announced the release of its new Managed Compliance Service.

The launch was announced with the news of the company’s acquisition of ReymannGroup, a Maryland based consulting firm that provides subject-matter expertise to help financial institutions navigate emerging regulatory, business, technology and information security challenges.

Paul Reymann, ReymannGroup chief executive officer, joins HEIT’s executive team as chief risk officer to lead HEIT’s compliance and risk management services and continue to expand the company’s footprint in the eastern states.

HEIT’s Managed Compliance Service delivers a CAMELS-based approach that the company says allows institutions to reduce the time and cost spent on compliance efforts, while expanding resources, expertise, intelligence, and real-time visibility across the organization.

MCS also includes a comprehensive technology platform designed specifically for community financial institutions, which is delivered securely over a private cloud architecture to provide a comprehensive real-time view of each institution’s compliance state. The cloud platform provides access to a content library and to subject matter experts.

HEIT’s MCS offers: Dodd-Frank Mortgage Lending Readiness Assessment, Compliance and Risk Management, Vendor Management, Business Continuity Planning, Policies and Procedures, Bank Secrecy Act/Anti-Money Laundering, Consumer Compliance, and more.

“We’ve seen a trend of major regulatory overhaul in each of the last three decades, but the transformation the industry is undergoing today is unprecedented,” said Reymann. “With the sheer scope and size of Dodd-Frank, we’re in the midst of a tsunami of rulemaking years “

Reymann co-authored Section 501 of the Gramm-Leach-Bliley Act Data Protection regulation and spent 13 years with the Department of Treasury where he authored several key regulatory directives and advisories on emerging risk management issues, including the industry's first regulatory directive on "Transactional Internet Banking."

 

For more information please go to: 

http://www.goheit.com/News_and_Events/?ID=98&cmd=view