Our Expertise - Overview
Equias delivers BOLI portfolio and nonqualified benefit services to banks across the United States with a team of 20 consultants and 32 support personnel. The Equias mission is to provide a balanced consultative approach in the design, implementation and administration of nonqualified benefit and BOLI programs that best serve clients' objectives and needs. The consultants of Equias, located in 15 regional offices, have helped over 800 banking organizations recruit, retain and reward executives, directors and employees by assisting with over 2,000 BOLI placements and implementing 1,500 benefit plans.
Equias' National Service Center in Bloomington, Minnesota, provides in-house BOLI and nonqualified benefit plan recordkeeping and administrative services for Equias clients. The client service team is very experienced in servicing nonqualified benefit plans and BOLI programs. Leadership is provided by Senior Vice President and Chief Operations Officer Becky Pressgrove, CPA. Becky has more than 20 years of experience with nonqualified benefits and BOLI and her primary areas of focus have been on client service delivery, from developing and leading other professionals charged with insurance and benefit plan administration, accounting, and financial reporting to leading a team of senior advisors providing technical assistance to clients, consultants, and client service personnel on accounting, tax, regulatory and legislative issues. In addition, John Bender, the director of client administration, is CLU and ChFC® certified and has 16 years of industry experience. Each account manager has nine or more years of industry experience.
Equias maintains physical, electronic and procedural safeguards that comply with federal regulations to guard consumer and customer nonpublic personal information. Equias successfully completed a Service Organization Controls (SOC 1 Type 2) audit in 2017 with no exceptions reported. The scope of the audit included both implementation and administration of BOLI programs and nonqualified benefits and was conducted in accordance with the Statement on Standards for Attestation Engagements No. 16 (SSAE 16). The audit attests that Equias has appropriately designed control objectives and the controls safeguarding customer data operate effectively. Equias is audited annually to ensure compliance with this framework as well as the operating effectiveness of its controls.