Information Systems Auditing
PBS provides independent and objective information systems auditing services the scope of which are based upon Control Related Objectives for Information Technology 5.0 (“COBIT®” ); Federal Financial Institution Examination Council (“FFIEC”) Objectives for Information and Information Technology Examination Guidelines; and Information Systems Audit and Control Association (“ISACA”) standards. The PBS Senior Consultant responsible for IT Audits has over 30 years of experience in financial institution operations and technology and is a Certified Information Systems Auditor (“CISA”).
Automated Clearing House Auditing
PBS provides ACH auditing services as derived from NACHA’s ACH Rules and the FFIEC Retail Payment Systems Booklet. The scope of an ACH Audit includes a risk based assessment of a financial institution’s processes as a Receiving Depository Financial Institution; Originating Depository Financial Institution; and ACH transactional payment processing. The PBS Senior Consultant that performs ACH audits is an Automated Clearing House Accredited Professionals (“AAP”).
Information Security Program Testing
PBS provides Information Security Program testing services the scope of which includes identification and verification of the effectiveness of a financial institution’s Information Security Program as required by the Interagency Guidelines Establishing Standards for Safeguarding Customer Information, as mandated by Section 501(b) of the Gramm-Leach-Bliley Act of 1999 (GLBA).
FACT Act/ ID Theft Program Testing
PBS provides FACT Act and Identity Theft Prevention Program (the “Program”) testing services which includes identification and verification of the effectiveness of a financial institution’s FACT Act and Identity Theft Prevention Program as established in Section 114 of the Fair and Accurate Credit Transactions Act (“FACT Act”) that addresses Red Flag Regulations and Guidelines.
Information Systems/Security Risk Management
PBS provides assistance in the development of Information Systems/Security Risk Management documentation that serves as a financial institution’s baseline risk assessment process to protect customer information. The PBS Senior Consultant responsible for the development of Information Security Risk Assessment processes is Certified in Risk and Information Systems Control (“CRISC”).
Business Continuity/ Disaster Recovery Planning
PBS provides assistance to financial institutions in the development of in-depth Disaster Recovery Business Contingency Plans designed to minimize loss of information and Customer services. Administrative Plans would include such components as the development of a Business Impact Analysis and Emergency Plans would address Contingency processes and Temporary Operating Procedures for individual departments. The Disaster Recovery Business Continuity Planning process used by PBS is based on guidelines set forth by the Federal Financial Institutions Examination Council (“FFIEC”) and the Federal Emergency Management Association (“FEMA”).
PBS can assist financial institutions to identify productivity gains and profit improvement through a redesign of systems and procedures on one or more of the institution’s operational areas such as: Deposit Operations; Loan Operations; Teller Line Operations; Customer Service Operations; Information Technology; and/or Electronic Banking. Upon completion of the fieldwork and analysis processes, PBS would prepare a report that addresses: Workflow, efficiency and analysis of the operational functions/processes under review; Recommended “best practice” procedures; Organizational considerations; Standards of performance; and Projected savings associated with study recommendations.
Data Processing Systems Analysis & Implementation
PBS provides services with the assistance of the election of systems and service providers that includes: Visiting with the appropriate committee within the financial institution’s to 1) determine the project timeline; 2) identify strategic initiatives of the financial institution that should be considered when looking at future system feature/functionality requirements; 3) review the “Request for Proposal” (“RFP”) draft prepared by PBS to be submitted to service providers under consideration; 4) determine the service providers to which RFPs are to be sent; and 5) obtain volume figures to be concluded in the RFP. PBS prepares a vendor analysis comparison documentation that includes an “apples to apples” comparison of Pricing; Financials; Service Provider SSAEs; Contracts; Hardware/Software Standards; Service Level Standards; and Service Provider Problem Tracking Reports. PBS assists the financial institution in negotiating the most favorable pricing and contract terms and meets with the appropriate committee to review the vendor analysis comparison documentation. Once a final decision is made and the financial institution signs a contract with the vendor of choice, PBS completes the project by reviewing the vendor’s conversion plan and submitting a list of any conversion planning action items that the institution should perform that are not listed on the vendor conversion plan.