System crash - cash aggregation

Posted By: AuditorK

System crash - cash aggregation - 11/02/11 01:49 PM

We had a catestrophic computer system crash last week and were not able to process transactions for 3 days. Yes - I know, this proved that our disaster recovery plan was ineffective.

We kept our branches open and continued to accept customer transactions, but nothing was processed during those 3 days. Everything was processed on the 4th day, so on my daily large cash reports, nothing shows for those 3 days, and everything shows on day 4.

I assume for CTR aggregation, I can't count those 4 days as one business day? I'm thinking I need to figure out how to break apart that report go back to the business days the customers actually conducted the business. Any thoughts?
Posted By: edAudit

Re: System crash - cash aggregation - 11/02/11 02:06 PM

Was the bank able to backdate the transactions?

You can initialy aggregate and then (remember I do not know the size of your bank) and manualy reivew each item that had mulitple deposits execeeding.
Posted By: AuditorK

Re: System crash - cash aggregation - 11/02/11 02:13 PM

As far as I know, there are no plans to backdate any transactions during this period. OD charges have been waived for these days.
Posted By: rlcarey

Re: System crash - cash aggregation - 11/02/11 03:15 PM

You're right, your disaster recovery process needs some work. You ran all the work together. What about interest bearing accounts? All those deposits didn't earn interest for those three days?? Otherwise, I would work the aggregate cash report as suggested. Each customer is going to have to be examined to determine whicch deposits happened on which business days.