Financial Institutions

In today's rapidly evolving financial landscape, quality assurance, tax, and advisory services are critical for financial institutions to thrive. Mauldin & Jenkins provides professional services to hundreds of financial institution clients nationwide, giving us a deep, first-hand understanding of the industry and its best practices.

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Banking institutions

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Credit Unions

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Assurance Services

AUDIT SERVICES

Our commitment to excellence means delivering audit services that not only meet regulatory requirements but also add value to your institution. We foster open communication with your management, Board, and Audit Committee to address key accounting and auditing issues proactively. As a PCAOB-registered firm licensed to practice before the SEC, we aim to build lasting relationships by delivering the highest quality service.

Our assurance services for financial institutions include:

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EXTERNAL AUDIT SERVICES

Ensure your financial statements are accurate, transparent, and compliant with all industry standards.

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EMPLOYEE BENEFIT PLAN/401K AUDITS

Minimize disruptions to your operations with our efficient and compliant annual audits for your employee benefit plans, including 401(k)s. Our team of professionals conducts annual audits that meet all accounting and reporting standards and do so efficiently to reduce disruption.

Learn more about our employee benefit plan/401k auditing services here.

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SOC REPORTS

Your clients need assurance that the private and sensitive data they entrust to you is secure. Our professionals provide detailed SOC Reports that thoroughly assess your system and organization controls. Our in-depth reports ensure compliance and enhance your institution's reputation for data security.

Learn more about our SOC reporting services here.

Other assurance services we provide

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DIRECTORS EXAM

A director’s exam is ideal for financial institutions not required to undergo an annual audit of their financial statements. You’ll gain valuable insights into your financial health and internal controls, even if you're not required to undergo a full annual audit.

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REGULATION AB AUDITS

Ensure compliance with SEC requirements for asset-backed securities. Contact your Mauldin & Jenkins professional for more information.

TAX Services

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TAX PLANNING AND RETURN PREPARATION

Maximize your savings and ensure you’re in compliance with our Tax Planning and Return Preparation services for financial institutions. Our experienced team provides strategic tax planning and accurate return preparation to meet your financial institution’s unique needs while ensuring you meet all regulatory requirements. 

More information on our tax planning and return preparation services here.

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PROPERTY TAX COMPLIANCE & RETURNS

We offer expert bank property tax assessment, property tax deductions for banks, bank property tax exemptions, and more to help you avoid overpayments, reduce risks, and ensure timely compliance with all tax authorities.

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PROPERTY TAX RISKS TO BUSINESS

Many financial institutions unknowingly overpay property taxes on inventory, materials, and commercial properties due to inaccurate valuations or duplicate assessments. Our services help identify and rectify these overpayments, ensuring you only pay what’s necessary and also help you avoid the financial risks associated with late, incomplete, or inaccurate property tax returns. We can also assist in reducing property taxes for banks, filing property tax appeals for financial institutions, and maximizing property tax savings for banks.

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SALT SERVICES

Financial institutions operating in multiple states must navigate complex nexus requirements to avoid tax liabilities. Our services ensure your institution complies with income tax, franchise tax, and specialized apportionment factors in every state you operate in.

Learn more about how our Specialty Tax practice can help you here.

Quality of Earnings (QOE) Reporting

S-CORP CONVERSIONS

Converting your C Corporation or Limited Liability Company (LLC) to an S corporation can be confusing. Our knowledgeable professionals offer comprehensive support to make the process straightforward and efficient.

Consulting & ADVISORY Services

Risk Management Services

Financial institutions must establish and maintain an effective enterprise risk management system. Our outsourcing services provide the necessary internal controls, monitoring, and compliance testing to ensure regulatory adherence. Services we offer include:

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RISK MANAGEMENT CONSULTING

Our risk management consulting services provide financial institutions with customized plans to address financial institution-specific challenges. From financial institution risk assessment to risk mitigation strategies, we ensure your institution is well-protected.

Learn more about our risk management consulting services here.

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CONSUMER COMPLIANCE & BSA SERVICES

Navigate complex regulatory requirements, including BSA/AML, fair lending, and FACT Act compliance, with our comprehensive support.

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INFORMATION TECHNOLOGY SERVICES

Safeguard your critical systems with our robust cybersecurity solutions. We can provide technology system consulting and full-scope information technology assessments and reviews, including GLBA, penetration testing, vulnerability assessments, firewall configuration, social engineering, ADA website accessibility, NACHA, and SOC reviews.

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NACHA REVIEWS

Financial institutions must conduct annual NACHA compliance audits as mandated by Article One, Subsection 1.2.2 of the NACHA Operating Rules. Our professionals help financial institutions conduct thorough audits, retain documentation, and meet all regulatory deadlines.

Contact one of our NACHA Operating Rules and Guidelines Specialists to learn more.

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RISK ASSESSMENT

Our Enterprise Risk Management process aligns internal audit with your strategic plan to evaluate financial, compliance, strategic, operational, reputational, and regulatory risks. We evaluate a wide range of risks to develop a tailored audit plan and effective risk management programs that are customized to your institution.

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INTERNAL AUDIT

Our proactive internal audit support helps your financial institution mitigate risk strategically and effectively. By understanding your challenges, operations, and internal controls, we maximize efficiency, minimize disruptions, and provide valuable recommendations beyond standard compliance.

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LOAN REVIEW & ALLOWANCE METHODOLOGY VALIDATION SERVICES

Identifying and assessing credit risk is critical for financial institutions. Our experts provide a full suite of loan review services for financial institutions, including credit administration control reviews, portfolio coverage ratio determinations, and allowance methodology validation, ensuring complete compliance with accounting standards.

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INTEREST RATE RISK REVIEW

An effective interest rate risk management program can help institutions improve decision-making and meet regulatory requirements. We evaluate your risk management processes and verify effective monitoring by management and governance, incorporating liquidity risk management, contingency funding review, and cash flow stress testing as needed.

other ADVISORY Services we provide

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MERGERS & ACQUISITION ASSISTANCE

Our professionals have assisted in multiple M&A deals for credit due diligence to potential asset valuations for both buy-side and sell-side transactions. We have successfully assisted financial institutions throughout the Southeast with comprehensive pre- and post-acquisition services. These include reviewing loan samples, evaluating loan pools, and ensuring portfolio quality through thorough credit due diligence and post-transaction services such as Day 2 purchase accounting and final reports.

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FRAUD REVIEWS

Our professionals conduct thorough fraud reviews, detailing how the fraud occurred, recommending changes to prevent future incidents, and securing required documentation for bonding and regulatory purposes

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COSO 2013 AND SOX 404 SERVICES

We assist financial institutions with all aspects of COSO 2013 and SOX 404, from identifying critical controls to documenting supporting controls and process narratives. Our services can be customized to include full or partial outsourcing of ongoing internal control monitoring and testing.

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CURRENT EXPECTED CREDIT LOSS (CECL) TRANSITION ASSISTANCE

We offer comprehensive assistance for financial institutions transitioning to the CECL allowance methodology, including providing modifications to existing loan loss models for full compliance.

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CALL REPORT PREPARATION

We provide call report preparation services for financial institutions, with the ability to completely outsource the process for streamlined and efficient reporting.

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INVESTMENT POLICY REVIEWS

We provide thorough investment policy reviews and compliance testing to ensure alignment with stated policies and current regulatory requirements.

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DE NOVO FORMATION SERVICES

Navigate the complexities of starting a new financial institution with our expert guidance.

what sets us apart

Partner Accessibility

Mauldin & Jenkins offers direct partner involvement throughout the audit process in the field, providing expert supervision and management consultation. We value our clients and ensure they have direct access to our partners for exceptional service.

AUDIT EFFICIENCY

Our financial institution audit team completes over 40 hours of annual internal training to ensure efficient, expert audits that minimize client disruptions.

technology EFFICIENCY

At Mauldin & Jenkins, we utilize cutting-edge technology to increase our efficiency. We value our clients and their time, and our technology use allows greater efficiency in the office and the field.

Going Further

Our focus will always be on you and your needs. Working with more than 175 financial institutions throughout the Southeast guarantees you a team of qualified professionals. We have “large firm” resources with a “local firm” client service approach. We have become recognized experts one satisfied client at a time. Let us be your trusted advisor to help you achieve your goals.

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Industry Professionals

Jim Vaughn Mauldin & Jenkins

Jim Vaughn

Chattanooga, TN Practice Leader | Financial Institutions Practice Leader | Partner

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Bill Curtis Mauldin & Jenkins

Bill Curtis

Birmingham, AL Practice Leader | Partner

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Andrew Glenn Mauldin & Jenkins

Andrew Glenn

Assurance Practice Leader | Partner

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Hanson Borders Mauldin & Jenkins

Hanson Borders

Managing Partner

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Jameson Miller Mauldin & Jenkins

Jameson Miller

Technology Services Practice Leader | Partner

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Emily Dent Mauldin & Jenkins

Emily Dent

Partner

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Jay Lucas Mauldin & Jenkins

Jay Lucas

Director

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Betsy Glickman Mauldin & Jenkins

Betsy Glickman

Senior Manager

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Joseph McCain Mauldin & Jenkins

Joseph McCain

Senior Manager

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