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RDC Risk Management -- Understanding the New Exam Procedures

Recorded on April 20, 2010

The FFIEC has just released (2-25-10) the updated Retail Payments System IT Examination Handbook.
This handbook update was mentioned in the Risk Management of Remote Deposit Guidance issued by the FFIEC on 1-14-09. Included in the handbook are two new sections -- Check 21 and Remote Deposit Capture Risk Management. The handbook has also added specific examination procedures that pertain to Check 21 and RDC.

This program will also provide the participant with a better understanding of the FFIEC RDC Guidance, Check 21 and the new RDC examination expectations outlined in the Retail Payments Systems Handbook.

Upon completion of the program, participants will understand:

  • The new doctrine included in the FFEIC guidance press release titled: The Essential Elements of Risk
  • What the new examination expectations are in regard to Check 21 and RDC
  • What an effective and comprehensive RDC risk management program includes
  • What specific components should a comprehensive RDC Risk Management policy include
  • How the role of all stakeholders and senior managers has been defined.
  • The important elements of a commercial customer application for RDC services
    that should be included in your due diligence and suitability program.
  • What should be included in your selecting, implementation and management of the technology
  • The difference between a customer site review, self assessment and customer audit (all components of the guidance)
  • The framework of an effective Risk Management monitoring program
  • That RDC is a technology not a product
  • How to develop an internal audit program that addresses the FFIEC guidance and the needed controls in anticipation of an exam.

Who should attend?

The Guidance impacts the entire organization from the board room to bank operations. The lines that separate the board, senior management, and technology, and risk management are blurring. The expectations of senior managers, banking executives and the board of directors as it relates to understanding the risks associated with technology before you purchase technology has increased significantly by virtue of this guidance. Recommended attendees include CEO, CFO. CIO, Internal audit, Compliance and senior operations professionals. Vendors that provide this technology as a service should also attend.

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