business technology a safety soundness perspective
Download
Skip this Video
Download Presentation
Business & Technology A safety & soundness perspective

Loading in 2 Seconds...

play fullscreen
1 / 11

Business & Technology A safety & soundness perspective - PowerPoint PPT Presentation


  • 125 Views
  • Uploaded on

Business & Technology A safety & soundness perspective. Information Meetings September / October 2004 . Business & Technology. Technology is a tool Business is the key New communication channels Use of Email Use of Internet Money Transmission - EFT, ATM, Bill Pay etc

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Business & Technology A safety & soundness perspective' - donald


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
business technology a safety soundness perspective
Business & TechnologyA safety & soundness perspective

Information Meetings

September / October 2004

business technology
Business & Technology
  • Technology is a tool
  • Business is the key
  • New communication channels
    • Use of Email
    • Use of Internet
  • Money Transmission - EFT, ATM, Bill Pay etc
  • Reporting – Call reports , Annual Returns etc
credit union it systems
Credit Union IT Systems

Provide:

  • Data and transaction processing
  • Reports and audits
  • Business planning
  • Data storage
credit union it systems1
Credit Union IT Systems
  • What about access to data and data protection?
  • What about operational procedures?
  • What about controls?
  • What about oversight?
  • What about responsibility and accountability?
safety soundness in credit unions
Safety & Soundnessin Credit Unions
  • Responsibility to serve the membership properly
    • Must operate within the law
    • Protect the business from unnecessary risk
    • Protect and enhance reputations
    • Develop a sound business ethos
safety soundness in credit unions1
Safety & Soundnessin Credit Unions

Essential to consider in terms of

  • Existing systems & operations
  • New services offering
safety soundness in credit unions2
Safety & Soundnessin Credit Unions

Questionnaire & Results

  • Password Security - Users are not accountable
    • Users share passwords
    • Users cannot change their own passwords
  • Deletion of Data
    • Auditing of cancellations, amendments and deletions needs improvement
    • Electronic data recovery should always be possible
  • Electronic reporting
    • Users unable to extract reports electronically
    • Critical reports cannot be reproduced
safety soundness in credit unions3
Safety & Soundnessin Credit Unions

Questionnaire & Results

  • Dormant and Deceased Accounts
    • Better management required, system controlling
  • Money Laundering
    • Report on values exceeding specified limits within a period
  • General
    • Low level of appreciation for system security in credit unions
safety soundness in credit unions4
Safety & Soundness in Credit Unions

Risks

  • Poor or no clear accountability
  • System weaknesses or perceptions of weakness can lead to fraud or loss
  • Poor procedures and controls in credit unions can lead to fraud or loss
safety soundness in credit unions5
Safety & Soundness in Credit Unions

Next Steps

  • Awareness, appreciation, buy-in
  • Set and improve standards
    • Improve data access security and auditing capability
    • Credit union procedures enforcement
    • Implement best practice in operations
    • Board and management oversight is necessary
    • Active supervision is essential
  • Manage the risks better
ad