Financial Institutions

Primary Contact

Rich Farrell
215.557.2207
rfarrell@parentenet.com

Principals

Dave Capitano

Press Releases (PDF)

November 3, 2008
Parente Randolph Promotes Three to Principal Status

August 10, 2007
Farrell Joins Parente Randolph's Financial Services Group

Brochures (PDF)

Consulting & IS Audits for Financial Institutions Brochure

Financial Institutions Brochure

A History of Excellence, a Commitment to Your Success

The power of ideas… that’s exactly what Parente Randolph has given financial institutions for more than 35 years.

Because financial institutions are facing greater challenges than ever before, Parente Randolph’s Financial Services Group recognizes how important it is to offer innovative and creative solutions. We cultivate ideas that maximize shareholder value, create competitive advantages and solve complex financial issues—and share those ideas with you.

A Team with an Excellent Track Record

Parente Randolph has a wealth of industry knowledge and experience gained over decades of serving more than 75 financial institutions with community banks at the core of our practice.

Parente Randolph has committed to serving the financial services industry by becoming a member of, and receiving certifications with, many institutions, including:

Independent Community Bankers of America
Pennsylvania Bankers Association
Pennsylvania Association of Community Bankers
Financial Institution Committee, Pennsylvania Institute of CPAs
Institute of Internal Auditors
Association of Certified Fraud Examiners
Institute of Certified Bankers
Internal Audit Training Committee, Pennsylvania Association of Community Bankers

Scope of Services for Financial Institutions

Parente Randolph’s Financial Services Group works with its clients to take advantage of new products and cutting-edge technologies. We offer an extensive range of services across the following areas:

Assurance and Tax Services

Working with Parente Randolph’s assurance and tax specialists will enable you to identify critical issues and benefit from a wealth of financial services experience. We offer an objective view that allows you to act with confidence.

Audits of internal controls for Sarbanes Oxley Compliance or FDICIA Compliance
Audits or agreed upon procedures prior to mergers, acquisitions, or reorganizations
DeNovo bank applications
SEC and Regulatory reporting
SAS 70 Service Organization audits
Trust Department examinations
Quarterly or semi-annual reviews
Agreed upon procedures for Directors examination compliance
Special examinations to uncover fraud or errors
Financial planning and forecasting
Rendering of expert opinions on accounting and financial problems
Tax consulting
Tax compliance

Internal Audits

Today, many users of financial information are demanding greater reliability of financial data specific to their needs. The Parente Randolph team is expertly attuned to the need for quick turnaround while providing thorough and impartial audits.

Outsourcing/co-sourcing arrangements
Risk assessments
Specialty audits including: ACH, interest rate risk, non-deposit investment products, insurance, discount brokerage, credit cards, merchant processing, leasing and accounts receivable financing programs
New audit program development
Quality assurance and peer reviews
Training programs
Peer reviews
SOX Section 404 consulting

For more information, visit our Internal Audits page.

Mergers & Acquisitions

We have a complete menu of services to help you throughout the complex process of a merger or acquisition, including due diligence, valuations, and post-merger plans. Please visit our Mergers & Acquisitions page for more information.

Strategic Planning

Where is your business right now? Where do you want to be? How do you get there? Strategic planning with Parente Randolph can help answer those questions.

Director/management retreats

Technology

Technology has transformed the financial services industry, providing the processing power, interconnectedness and instantaneous communications necessary to go global.

Parente Randolph can equip you with the tools necessary to thrive in this new business environment.

Electronic banking audits
Information systems audits
Unix, AS/400, Unisys, Windows NT and Novell security audits
Wire terminal security audits
Simulation testing

Regulatory Compliance

Regulatory requirements are continually changing. Financial institutions face an increasingly complex challenge of complying with those requirements. Parente Randolph’s team can help.

Comprehensive consumer compliance reviews
Implementation/assessment of privacy programs
Website reviews
Policy review and development
Compliance update and training programs
Fair lending reviews
Regulatory Enforcement Agreement Programs

Profit Improvement Programs

Parente Randolph’s Financial Services team is continually focusing on new ways to improve profitability. We bring our expertise together with technology to create solutions for clients.