Advisory Services

Operational Information Workflow Audit and Security Remediation

Purpose

• Increased pressure on financial institutions has created an environment where they must investigate and fix any areas of the operation where customer data is vulnerable
  
• Ensure that proper data security and protection is in place across the enterprise
  
• Document the process and remediation of issues for future review by the board, the banks audit firm, and regulators

Process and Deliverables Catalyst Can Provide

• Identify where confidential and restricted data is currently located (inside and outside the bank, with 3rd party vendors, laptops, printed materials, etc.)
  
• Document the workflow process in all areas of the bank
  
• Document how data is being used and what QA controls are in place for data stores, reports, screens containing confidential and restricted data, laptops, 3rd parties, internet banking, printed material, etc.
  
• How and where to introduce control points into data flows
  
• Temporary or permanent solutions to critical issues identified

Implement Permanent Solutions

• List of items requiring remediation and recommends to correct
  
• Permanent remediation of all Security Protection issues identified
  
• Identify and reduce redundancy of customer data within operational data stores
  
• Plan to reduce data redundancy within 3rd party connected channels and online applications 
  
• Document training requirements – Conduct / coordinate re-training where required
  
• Ensure development of new policies and procedures
  
• Document the entire audit and remediation process for review by auditors, examiners / regulators

Benefits

Catalyst provides a process that audits and ensures the secure use of highly sensitive data, significantly reducing the risk of potential liability. Catalyst delivers documentation that is appropriate and recommended for submittal to the Board of Directors, auditors, and regulators, and insurers.