Have you identified all of your Wire Transfer processing risk?
A risk assessment is a critical component utilized to provide management assurance all controls are working as intended. The complexity of the funds transfer channel requires extensive knowledge of regulations, laws, risks, and internal controls.
Effective risk management requires understanding and development of controls incorporating Federal Financial Institutions Examination Council (FFIEC) guidance to ensure you have implemented sufficient controls along with appropriate monitoring to avoid or mitigate the impact of the risks identified.
Our experienced payments experts will evaluate your controls with regards to funds transfer processing and provide opportunities for improvement to reduce risks. We provide an informative, detailed report on inherent risk, implemented controls, and residual risks, along with recommendations for further risk mitigation.