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IS Audit
Financial institutions are facing an ever-increasing reliance on information technology. Banks in today’s environment must provide state-of-the-art protection for their IT systems, as these systems are increasingly vulnerable to attacks from both internal and external sources. Compliance concerns have also increased as a result of the Gramm-Leach-Bliley Act; and regulatory authorities are requiring independent IS audits from qualified service providers. Now, more than ever, there is a need for a quality, objective, in-depth and independent analysis of an institution’s information technology environment.
We understand qualified, experienced personnel within the Information Systems arena are increasingly difficult to hire and train. Information technology skills are expensive and in short supply. The same holds true for individuals qualified to perform these audits. Our audit solutions can offer your institution a cost-effective solution to this problem. Our experienced staff will coordinate and direct a turn-key audit performed along FFIEC Information Technology Examination Handbook guidelines.
The primary purpose of our IS audit function is to independently assess the reliability and integrity of your institution’s IS environment and help to identify potentially serious technology-related problems. We will review your IS audit plan, risk assessment, and policies and procedures to ensure sufficient management oversight. We also perform audit procedures to ensure adequate controls exist.
We are committed to your success and the success of your organization. This commitment is proven by our leadership in bringing you the audit services you need to maintain an adequate system of internal controls and keep pace with regulatory demands.
This service provides financial institutions with customized, ongoing internal audits and consultation. We provide assistance to you and your staff in conducting internal audits, evaluation of the system of internal controls and meeting regulatory internal audit requirements. Our audits are administered by certified auditors with extensive banking and information technology experience.
A Comprehensive IS Audit Includes:
- Review of current policies and procedures
- Testing of key internal controls
- Resolution of issues by means of a cooperative teamwork approach
- Reports to management and Board of Directors audit committee on findings with recommendations
- Coordination with independent CPAs and regulatory authorities
- General controls review of IS area:
- Policies and Procedures
- Acquisitions
- Program Change Controls
- Physical Security
- Logical Security (includes vulnerability scans)
- Backup and Recovery
- Disaster Recovery/Contingency Planning
- ACH and Wire Security
- Gramm-Leach-Bliley Act Compliance
Additional specialized services/audits are available, such as:
- Stand alone internal and external vulnerability scanning, which includes a comprehensive management summary
- Telephone Banking
- Internet Banking
- Document/Check Imaging
- Optical Storage
- Check Card Issuance
- Weblinking
- Outsourced Services
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Social Engineering & Information Security Services
Social Engineering is the process of using weaknesses in people and practices to gain access to company software, passwords, and confidential data. The human factor to information security can possibly result in your biggest exposure. You can have all the right technology in place, installed correctly and optimally running, but if your employees are lacking education or if policies and procedures are not rigorous and upheld, your assets are at just as much risk as if you had no security at all. FNBB Services Corp.’s Social Engineering Assessments are a cost-effective way to analyze your organization’s information security, and identify and help to rectify any weaknesses.
Our service includes:
- On-site assessment, including evaluation of employees’ safeguards of passwords, and evaluation of safeguards of unauthorized software.
- Detailed report of the assessment findings.
- On-site customized information security seminars and training for bank employees.
Social Engineering & Information Security Service Benefits:
- Our service provides a cost-effective evaluation of the knowledge of your employees regarding information security.
- We help to identify risks and weaknesses as an independent outsourced provider.
- We educate employees on the systems and data that should be protected.
- We review your bank’s information security policies, and make recommendations of any updates and modifications if necessary.
For more information contact Reggie David at 1-800-421-6182 or rdavid@bankers-bank.com.
Independent ALM Review
We offer an in-depth review of your bank’s policies and procedures relating to ALM in accordance with requirements in the FDIC’s 1996 Policy Statement. This includes policy and compliance review as well as ALM model validation. Our review report provides recommendations for improvements, efficiencies, and information on benchmark industry practices.
Loan Review
The goal of our Loan Review service is to help you ensure your financial institution’s soundness in today’s regulatory environment. With our Loan Review service, you receive an in-depth audit of your loan portfolio performed by bankers knowledgeable in audit practices and able to apply their knowledge from a lender’s perspective. We pride ourselves on bringing you oversight on lending practices, credit analysis, and loan documentation.
Let our staff alert you to discrepancies in operations now, in order to avoid regulatory implications down the road.
Our Loan Review service provides:
- Flexible pricing and scheduling options
- Loan parameters set by your bank
- Credit and collateral documentation assessment
- Analysis of borrower repayment ability
- Assignment of risk code rating by customer
- Summary of loan loss exposure and loan classification
To request a proposal for information systems audit services or to get further details, contact your Business Development Officer. |
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