There are so many reasons why it's important to ensure that you have a proper records management policy in place when you're in the banking and financial industry. Here are a few to consider:
Fulfills Compliance Requirements
The banking and financial industry is highly regulated, and it can be a challenge to understand all the nuances of various requirements. Whether you are working to comply with Dodd-Frank Regulation Requirements or the FDIC rules for electronic files, you may need assistance understanding how they impact your records management process. At R4 Services, we are up to date on all compliance requirements and can help define exactly what you need to be compliant.
Prepared for Audits
With a solid records management system, you don't have to worry when you are selected for an audit. If your records are properly organized, you can provide a solid paper trail when questioned. This preparation can help you sail right through audit, saving you time, money, and stress.
Protection from Fraud
When an individual or company's financial security is put at risk, it can be devastating. Financial documents are full of sensitive information and can provide access to a family's savings account or a multi-million dollar company's investments. Fraud can cause a family to default on their mortgage or a business's stock to plummet. When your records are properly archived, stored, and destroyed when no longer needed, you can assure your customers that you are providing them with the security they need.
Fulfills Compliance Requirements
The banking and financial industry is highly regulated, and it can be a challenge to understand all the nuances of various requirements. Whether you are working to comply with Dodd-Frank Regulation Requirements or the FDIC rules for electronic files, you may need assistance understanding how they impact your records management process. At R4 Services, we are up to date on all compliance requirements and can help define exactly what you need to be compliant.
Prepared for Audits
With a solid records management system, you don't have to worry when you are selected for an audit. If your records are properly organized, you can provide a solid paper trail when questioned. This preparation can help you sail right through audit, saving you time, money, and stress.
Protection from Fraud
When an individual or company's financial security is put at risk, it can be devastating. Financial documents are full of sensitive information and can provide access to a family's savings account or a multi-million dollar company's investments. Fraud can cause a family to default on their mortgage or a business's stock to plummet. When your records are properly archived, stored, and destroyed when no longer needed, you can assure your customers that you are providing them with the security they need.
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