Advisory and implementation to comply with Superintendency of Banks regulations
Implementation of policies, procedures and internal controls aligned to SBP Agreements. Inspection preparation, observation remediation, banking process documentation. Deep knowledge of Panamanian local regulation.
Complying with Superintendency of Banks of Panama regulation is non-negotiable obligation but resource-intensive. CFOs and COOs of financial institutions face constant challenge: implement compliance without stopping operations, without excessive bureaucracy, and demonstrating to SBP that controls are effective (not just documents in drawer). Alternative helps financial institutions comply with SBP regulation efficiently: we design and implement pragmatic compliance systems, prepare for inspections, remediate observations, and document processes so that internal audit, external audit and SBP accept without objections.
Regulatory compliance services for financial institutions
Policy and Procedure Design and Implementation
We develop corporate policies and operational procedures aligned to specific SBP Agreements: corporate governance, operational risk management, internal controls, compliance management, business continuity, information security.
- Corporate policy manual
- Operational procedures by critical process
- Risk and control matrices
- Implementation action plans
Banking Process Documentation
Mapping and formal documentation of core banking processes: credit approval, account opening, treasury, reconciliations, regulatory reporting, AML/CFT. Documentation with level of detail SBP requires: narratives, flow diagrams, RACI matrices, implemented controls.
- Process narratives
- Flow diagrams
- RACI matrices
- Control documentation
SBP Inspection Preparation
Internal pre-audits that simulate SBP inspection. We identify gaps that inspectors would find. We prepare documentary evidence that SBP requires. We train team on how to respond to inspector requirements.
- Internal pre-audit
- Gap identification
- Evidence preparation
- Team training
Regulatory Observation Remediation
Analysis of observations issued by SBP. Remediation plan design with specific corrective actions. Control implementation to close identified gaps. Evidence preparation for observation closure.
- Observation analysis
- Remediation plan
- Control implementation
- Closure evidence
Internal Control Systems
Design and implementation of internal control frameworks aligned to COSO: control environment, risk assessment, control activities, information and communication, monitoring. We develop key control matrix, effectiveness testing, deficiency remediation.
- Internal control framework
- Key control matrix
- Effectiveness testing
- Deficiency remediation
Does your institution need SBP compliance support?
Free 30-minute evaluation. We review your current compliance situation and recommend priority actions.