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Banking & Insurance

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Banking and Insurance

Maximize the value of your organization

Success in regulated industries such as banking and insurance often involves a balance of maximizing the value of your assets, meeting new regulations, and mitigating an ever-changing risk environment.

Our specialists work closely with you to understand your areas of concern and opportunity. CBIZ professionals have assisted credit unions, banks, insurance entities, and other institutions with improving internal controls, mitigating the risk of fraud, tax consulting and compliance, and reducing the cost of doing business. We help you stay on top of the regulation changes that affect you and adjust accordingly so that you maintain compliance and maximize the benefits available to you.

Solutions for Banking & Insurance

  • Corporate Recovery Services: From restructuring to bankruptcy, retain the value of your assets during transition periods in your institution’s life cycle with the help of our team.
  • Credit Risk Services: Enlist our credit risk advisory service specialists to receive vital guidance on credit, operational, and enterprise risks.
  • Deal Advisory: Evaluate and execute the complex transactions you face and ensure you have the information you need to make well-informed decisions.
  • Financial Statement Audits*: Receive attestation on your financial statement and access recommendations for improvement with our MHM audit team.
  • Fraud Investigations: Evaluate your fraud risk and pinpoint areas of weakness to help you improve your anti-fraud policies.
  • Internal Audit: Evaluate your internal controls and receive recommendations on ways controls can be strengthened and improved with our internal audit specialists.
  • Tax Planning, Consulting & Compliance: Enlist our tax team to maximize available tax credits and incentives while keeping in compliance with reporting regulations.
  • Valuation: Receive assistance with the full range of financial reporting valuation as well the valuation of complex derivative instruments and securities.

The CBIZ Banking & Financial Services Practice assists banks, credit unions and other financial institutions with a unique range of consulting, compliance, due diligence and business services.

Access trends and regulatory developments that affect the banking and financial services sector through our quarterly newsletter.

CBIZ and MHM's 2023 study, Benchmarking Your SOC Compliance Framework, serves as such a resource, helping service providers improve their SOC reports for better efficiency and customer satisfaction. This study analyzed over 150 SOC 1 and SOC 2 reports from various industries and company sizes, with key findings shared over the past few months.

Speaking at a Dec. 5 event titled “Navigating the EconomicLandscape: Insights and Projections” at the CBIZ office in Kansas City, Mo, Rathbunexplored the complexities of the current economic environment, addressingcritical questions about the likelihood of a recession, the reality of a true softlanding and the plausible scenarios that could play out in the year ahead.

We are writing to apprise you of new and very important information reporting requirements that may impact you beginning Jan. 1, 2024. The purpose of this communication is also to inform you about our limitations in assisting you with meeting these requirements.

Anthony M. Coble

Managing Director

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    *CBIZ is a business consulting, tax and financial services provider and works closely with MHM (Mayer Hoffman McCann P.C.), an independent CPA firm providing audit, review and attest services. CBIZ and MHM are members of Kreston Global, an international network of independent accounting firms.