BANK OWNED LIFE INSURANCE
Partnering with you in complying with the changing fiduciary environment
Bank Owned Life Insurance (BOLI)
BOLI – Consulting & Implementation
The key component of our process is to identify the purpose of the BOLI holding and insure that assets held are in alignment with the goals and objectives of the bank management. From there, the next step is creating a transparent and smooth implementation of the product.
BOLI – Compliance
FCG professionals have been working in the BOLI market before the initial regulatory guidelines were issued in 1991. We work with our clients in the risk analysis for both pre-purchase and post-purchase. We provide a detailed risk and performance review annually as part of the compliance requirements (OCC Interagency Bulletin 2004-56).
BOLI – Administration
Our administrative services are handled by experienced CPAs who provide the program reports on a timely basis. The administration includes the annual asset and liability accounting (executive plans), as well as annual regulatory compliance reporting.