cMAX Audit Technology and Field Audit Solutions
In the wake of FINRA's NTM 11-54, many Broker-Dealers are putting branch audit inspections at the top of the pile of compliance challenges. With its mix of best practices and common deficiencies, this Notice to Members can be viewed as a guidepost for creating effective policies and procedures for your inspections.
NRS can facilitate your branch audit program with our Field Audit Solutions. Whether you're looking for us to manage the inspection process start-to-finish or wish to implement a technology that will standardize your processes and support your audit team to streamline and improve your entire audit program, NRS ComplianceMAX is your solution.
Choose the option that best fits your needs:
- Outsourcing - Provides your firm with a completely managed solution and significantly reduces costs. In addition, NRS's ComplianceMAX Audit Technology automates your review and approval of each audit, final reporting and risk management trend reporting. You maintain control while we provide the experience, logistics and technology for a cost-effective turn-key program.
- Co-sourcing - A flexible and collaborative approach that allows you to meet expanding audit obligations and control costs. NRS builds on your existing program while implementing technology to streamline and improve risk reporting across your entire audit program. As a result, you gain many of the benefits of an outsourced program while retaining your core functions in house.
- Technology - By leveraging ComplianceMAX Audit Technology, your audit team will see a dramatic boost in productivity and increased job satisfaction. ComplianceMAX consolidates spreadsheets, emails, faxes and other manual processes into one secure and centralized repository for your data, documents and other audit materials.
NRS Field Audit Solutions make your life easier by:
- Freeing up your time
- Organizing and maintaining your reports and documents
- Creating much needed trending reports
- Reducing the cost of your program as regulations continue to add to workload
For more than a decade, NRS has operated the largest and most comprehensive branch inspection service in the industry. Many of the largest broker-dealers trust and rely on NRS to design, schedule and implement their inspection programs. NRS's team of auditors conducts more than 1600 audits each year and has over 15 years of industry experience on average. No other provider in the industry offers your program such expertise or scale.
For more information on the Audit Technology and Field Audit Solutions, contact us today.