Electronic Deposit Audit


Are you effectively managing your Electronic Deposit systems risk?  

Effective risk management requires understanding of risk, development of controls designed to mitigate risks, and means of determining effectiveness of the control.  An audit is a critical component utilized to provide management assurance all controls are working as intended.
 

The FFIEC Retail Payment Systems Manual requires financial institutions to ensure effective internal audit functions for all electronic deposit systems, including third-party relationships. The audit program should test the quality of internal controls; compliance with laws and regulations; management policies; procedures; and limits. Audit coverage should be risk-focused and special attention should be given to new retail payment technologies and products.

Are your payment system auditor’s industry experts? Using proven methodology, we can perform your Electronic Deposit Audit quickly, efficiently, and at a very competitive rate. We provide you with a summary of findings, specifying areas where you did, or did not, meet the criteria for a successful audit. We identify procedures and controls that need strengthening and recommend steps to reduce risk. A review of all the findings is conducted during an exit meeting.


The basic scope of our services is based on the selected delivery channel:

  • Remote Deposit Capture
  • Mobile Deposit
  • Branch Capture
  • ATM Capture

The audit includes requirements found in the FFIEC Examination Manuals and will verify the following:

  • Verification of key controls, including duplicate detection, reporting systems, and changes to account number, routing number, and/or amount
  • Identity and Access Management
  • Separation of duties, internal controls, and fraud management
  • Due diligence for new and existing customers (RDC/Mobile)
  • Verification of agreements executed with RDC customers


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Pam Rodriguez, AAP, CIA, CISA
President & CEO  
prodriguez@epayadvisors.com
800-475-0585 ext. 1603