Management Consulting Services

NETBankAudit Management Consulting Division can work with your existing Audit Management Team or Risk Management function to address your compliance program development and operational assessment needs. In addition, NETBankAudit can bundle any or all of the following services into an integrated solution for our clients depending upon your institution's internal audit needs. Below is a listing of our standard services and descriptions of each.

1. COSO Compliant ERM Program Development
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   COSO Compliant ERM Program Development
   Financial Institutions are under constant pressure to manage risk through all aspects of the organization. NETBankAudit with its extensive experience in providing regulatory and compliance risk assessment and audit services to hundreds of financial institutions has developed a comprehensive ERM Program Development and Management Process. The process includes a risk assessment to establish the scope and definition of the ERM Program for the institution and then the implementation of an affordable ERM system. The ERM system - Consolidated Financial Enterprise Risk Management (confERM), is designed to be customized for each institution. Once implemented, confERM provides specific easy to understand reporting and helps to provide guidance for the ongoing management of the ever changing enterprise risk position.

   All financial regulatory agencies have adopted and strongly encourage COSO's ERM framework. Additionally, the Federal Reserve and OCC have provided further guidance regarding financial institution specific risks within the COSO ERM framework. These areas can include lending, investments, retail operations, information systems, human resources, trust, legal, new technology, audit services, CRA, etc. An ERM Program that can be implemented to cover every element of the financial system can better position management and the board of directors in developing policies and procedures, risk management monitoring, and internal controls and more efficiently address regulatory review.

   • COSO Compliant ERM Risk Assessment
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   COSO Compliant ERM Risk Assessment
   NETBankAudit's REM Risk assessment methodology is based on an approach outlined in the National Institute of Standards and Technology's (NIST) Special Publication 800-30, industry best practice and our 9 years of experience supporting the community financial institutions market. Our risk assessment methodology will result in a complete ERM program and tool (confERM) to manage the ever changing technical and regulatory environment.

   The initial risk assessment will cover the entire enterprise as defined by COSO and will define the scope of the ERM Program and the set-up and implementation requirements. NETBankAudit will then install confERM and implement confERM using the results of the risk assessment completing the implementation with training and instruction.

   • confERM - an Enterprise Risk Management tool
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   confERM - an Enterprise Risk Management tool

   

2. Business Continuity Plan (BCP)
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   Business Continuity Plan
   Regulatory requirements and industry best practices for business continuity and disaster recovery planning have changed materially in recent years. As a result, many banks' existing plans have new gaps to fill, in addition to keeping pace with the changes that have occurred in the institution's business plan, physical environment, and information systems infrastructure. NETBankAudit will work with your community financial institution to develop a Business Continuity and Disaster Recovery Plan that is scalable and addresses a broad range of disruption scenarios. The plan will be enterprise-wide and address the needs of the entire organization, incorporating both information and resources in physical and electronic form. Provisions for crisis management, communication, testing, training, and the involvement of third parties will also be included in the plan. This service is a collaboration between NETBankAudit and the customer where we mentor you through this engagement and leave you with something you can understand and continue to use for years to come.

3. Lending Review and Assessment
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   Lending Review and Assessment
   NETBankAudit can provide staff for providing periodic Loan Reviews to assist in rating the existing loans in your portfolio. Many regulators are requiring external Loan Reviews, separate from the Bank's Lending function in order to provide an objective view of the loan performance. In addition to Loan Reviews, we can also provide compliance support including notifications on new developments in lending regulations and in evaluating your loan policies to determine their adherence to industry guidelines.

4. Information Technology Operations Consulting
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   Information Technology Operations Consulting
   Managing the tasks surrounding Information Technology is a different type of business from banking but it is the core function in today's electronic age. NETBankAudit can help provide talented Consultants that have been in the IT banking world and know what you are facing. We are here to help you apply industry best practices and keep you apprised of changes and regulator expectations.

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