Bank and Federal Credit Union Applications

Our firm has helped over 10 organizations file Bank/Trust and Federal Credit Union  (“FCU”) applications.  These engagements include preparing project plans, creating documentation check lists, preparing business plans and drafting all the required documentation such as ICAAP documents, governing documents, policies, procedures and required assessments etc.

We work with our clients to navigate the complex application process by assisting in all phases of the application.

This includes:

• Reviewing the business model to ensure that the application is the most efficient approach to conducting business,

• Reviewing the financial models to ensure they make economic sense and are constructed correctly,

• Drafting phase 1 material and the application notices

• Developing initial OSFI Phase 1 kick-off meeting material

• Drafting all required Phase 2 documents including:

1. 1. Financial plans,
   2. ICAAP documents,
   3. Governance framework documents including all board and committee mandates and work plan material,
   4. Drafting all required policies and procedures,
   5. Drafting all required “assessment” documents
   6. Establishing the credit, market, treasury, operational and regulatory risk management practices

• Working with the applicant to file the required documents and interpret/respond to all Requests for Additional Information Letters (“RAILs”) issued by the regulators,

• Assessing the registration requirements for all provinces where the applicant expect to operate.

• Ensure a constructive and positive working relationship with the regulators