Equias Alliance, an NFP Company: Risk Assessment Review of BOLI and Executive & Director Benefit Plans

As bank-owned life insurance (BOLI) has become a prevalent tool for banks to offset the rising cost of employee benefits, the regulation and laws governing the industry have developed. The interagency BOLI guidance (OCC 2004-56 and FIL-127-2004) requires that the bank perform a review and risk assessment of BOLI at least annually. The Equias Alliance BOLI consultants and team members are industry professionals whose guidance has assisted banks of all sizes with the review of their BOLI program.

MARKET PROFILE
Financial institutions of any size seeking a BOLI risk assessment and/or overall assessment of their current BOLI program and/or executive and director nonqualified benefit plans.

Contact an ABA Expert

Solution

During a review, the Equias Alliance consultants will help the bank evaluate product design options, explore applicable banking regulations, review tax law requirements that apply to BOLI, and provide recommendations for the BOLI portfolio that best suits the bank's investment philosophy. In addition, they will review and evaluate the current executive and director benefit plans to ensure they still meet the intended goals and objectives.

Equias Alliance is available to help review, assess, document and make changes, if appropriate, to the existing BOLI program and executive and director benefit programs, whether they were designed by Equias Alliance or another vendor.

Learn more at: www.equiasalliance.com

Provider

Equias Alliance helps banks achieve their key financial goals, manage benefit liabilities and enhance shareholder value through market-leading knowledge, tailored executive benefit plan design, Bank Owned Life Insurance (BOLI) expertise and BOLI administration solutions.

See more about Equias Alliance

Benefits

PROGRAM BENEFITS

Assists the bank in complying with the interagency guidance for conducting a BOLI risk assessment and annual review.
Assists the bank in reviewing, assessing and making changes as applicable to its existing BOLI and/or executive and director nonqualified benefit plans.
Provides ongoing guidance and objective feedback regarding the bank's executive benefit plans to allow the bank to accomplish its desired objectives.
Experienced resources to assist the bank with its BOLI policy and annual review and risk assessment requirements.
Experienced team of BOLI consultants and team members providing strong technical and compliance support.

Resources

ABA Endorsed Solutions by Equias Alliance

Contacts

ABA Contact

Helen Sullivan
202-663-5167

Equias Alliance Contact

David Shoemaker
901-754-4924

Due Diligence Report

Due diligence reports are currently available on select solutions and for bank members only.
Get Report.

Learn About Endorsed Solutions

In a rapidly changing landscape, banks turn to the proven expertise of ABA Endorsed Solutions for the most advanced technologies and products to grow their business, cut costs, and transform the customer experience.