Short answer: you can bank on us. We’ve been providing translation services to the Miami agency of a foreign bank for nearly 10 years, as part of the work on translation of business documents. Principally, we’ve been performing Spanish-to-English translation of the minutes of Board of Directors’ and committee meetings. However, our work has also extended into providing Spanish-to-English translation of loan documents, qualitative studies, correspondence, and other documents.
As a result of translation work for this client, we’ve become quite knowledgeable of the alphabet-soup regulatory labyrinth that local offices of foreign banks must negotiate. We know that when a foreign bank’s committees or Board of Directors deliberates in a language other than English, it is important that the translation of the minutes of the meetings accurately reflect that the foreign bank is complying with United States confidentiality regulations, Bank Secrecy Act requirements, anti-money laundering requirements (including OFAC), cash transaction reporting requirements, business continuity plans, risk matrices, key risk indicators and others.
We know that at a moment’s notice, the Federal Reserve Bank or state regulators can request to see those translated minutes, and that inaccurate or less-than-diligent translations could lead to unnecessary regulatory problems for the bank’s local office. We assign the translation of crucial documents to individuals that in addition to possessing excellent translation skills, also have familiarity with banking regulations, either through their experience in the law or in banking.
We’re also aware that no matter how skilled the person taking the minutes, it’s very difficult to accurately transcribe a meeting involving multiple participants. This difficulty is compounded when that transcription must be translated into another language. This is where our experience in the subject matter pays dividends, and results in a better finished product.
At TransForma, we are your resource for accurate translation of business documents from Spanish (or any other language) into English, including those critical ones that are required by bank regulators. Visit us at www.transformaonline.com. To request a quote, email us at email@example.com, or call us at 305-722-3827.