Outsourced Internal Audit and Risk Management
Partner with NETBankAudit to reduce the stress and uncertainty of today’s cybersecurity challenges and regulatory complexities.
$30 billion
WHO WE ARE
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Cybersecurity and Regulatory Compliance Experts
NETBankAudit was formed in 2000 by a team of IT executives and former regulatory officers. Convinced that advancements in information technology would significantly affect the future of financial services, particularly in the movement of money and data through electronic channels, the team resolved to help organizations adjust to this ever-changing, very complex environment. The key to managing the benefits and challenges of this developing trend would be the institution’s ability to oversee and control the information technology environment. Accordingly, NETBankAudit positioned itself to partner with institutions by working as an extension of their internal audit function or management self-assessments efforts.
Note: We do not subcontract. All engagements are staffed internally with senior-level, certified personnel
What WE DO
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Outsourced Internal Audit Services
NETBankAudit offers comprehensive internal audit services, seamlessly integrating with existing programs to ensure thorough evaluations and compliance. Our FFIEC-aligned services extend your internal audit function, following IIA standards and employing the COBIT framework for wholistic assessments. With over 250 institutions under contract, we tailor our approach to each client's unique circumstances, needs, and budget constraints.
Our foundation rests with understanding and addressing complex technology and regulatory environments and providing our clients with clear and usable gap analysis between industry best practices, regulatory guidelines, and the client’s internal controls.
- IT Audits: Evaluation of general IT controls, regulatory compliance, cybersecurity, core processing systems, networking technology
- Operational Audits: Audit of key financial operations such as loans and deposits, branch administration, digital banking, wire transfer, ACH, and item processing
- BSA/AML/CFT/OFAC Audits: Compliance reviews, risk assessments, model validations, transaction monitoring system analysis, team training and vendor evaluations.
- Consumer Compliance Audits: Regulatory audits for fair lending, loan compliance, deposit compliance, privacy protection, and the Community Reinvestment Act.
Comprehensive Risk Assessment Services
NETBankAudit delivers tailored risk assessment services to institutions, identifying and evaluating potential risks across operational and regulatory domains. Utilizing industry frameworks such as NIST and FFIEC, we provide actionable insights to enhance risk mitigation strategies and ensure regulatory compliance. These risk assessments are often combined with audits and testing to increase effectiveness and efficiency.
- Enterprise-wide Risk Management (ERM) assessment
- GLBA 501(b)Information Security Risk Assessments
- Cybersecurity Controls Evaluation and CAT Facilitation
- Ransomware Assessment
- IT and Operational Risk Assessments
- Internet Banking, Wire/ACH, RDC Risk Assessments
- Business Continuity Risk Assessment and Business Impact Assessment (BIA)
- BSA/AML/CFT/OFAC Risk Assessments
- Fair Lending and Consumer Compliance Risk Assessments
- Vendor Management Risk Assessments
- Social Media Risk Assessment
Advanced Vulnerability and Penetration Testing
NETBankAudit conducts thorough vulnerability and penetration testing, simulating cyber-attacks to identify security weaknesses and improve defenses. Over 95% of our audits and risk assessments are supported with various forms of testing. We utilize NIST and FFIEC guidance, going beyond standard open-source testing with best-in-class tools.
- External and Internal Network Vulnerability Assessments with Penetration Testing
- Cyber-Scenario and Wireless Testing
- Firewall, Router, and Server Configuration Audits
- VPN Penetration Test
- Active Directory and Password Audits
- Dark Web Search
- Microsoft 365 Security Assessment
- Microsoft Azure Security Assessment
- Google Workspace Assessment
- Google Cloud Security Assessment
- AWS Security Assessment
- Website Security Review
- Cloud Security Control Review
- End point compromise test
- User Elevation Test
- Black Box Testing
- Tabletop Test Facilitation
Our testing tools are top-in-class and provide a variety of options, please inquire.
Social Engineering Testing Services
NETBankAudit’s social engineering testing services simulate realistic attack scenarios, such as phishing and pre-text calling, to evaluate the security awareness of employees in financial institutions. These tests help identify vulnerabilities in human factors and improve overall security practices.
- Email Phishing and Pre-text Calling simulations
- Onsite visits and Branch Audits
- Assessment of employee training effectiveness
- Identification of awareness gaps and security weaknesses
- Recommendations for improved security protocols
- Support for continuous security awareness training
- Analysis of response times and incident handling
- Reporting on security culture and awareness levels
- Recommendations for advanced security training
- Internal and External Network Vulnerability Assessment (i.e. Penetration Testing)
- Customized training programs based on test results
Our Value-add Management Consulting Strategy
Our consulting is specifically tailored to your requirements or conducted in an internal audit liaison capacity, often at no additional cost. We are very proud of our value-add strategy. We add value primarily because every auditor is senior/executive level and has practical banking and/or regulatory experience in addition to certified auditing experience. This allows our auditors better perspective as actual former practitioners and/or examiners. All auditors have a true passion to help their clients.
Some of our recent consulting engagements included:
- Policy, Procedure, Standard frameworks using NIST and CIS
- Cybersecurity Controls Assessments
- Business Continuity Planning / BIA and Incident Response
- Project Management and System Conversions
- Ransomware Assessments
- Patch Management
- Active Directory and Configuration Management
- Examination Prep using URSIT
- BSA/AML/OFAC Compliance, Risk Assessment, and MIS Verification & Filter Optimization
- Consumer Compliance - Fair Lending, CRA, Loans, Deposits, Privacy, Other
- Vendor Management, Due Diligence, and Ongoing Monitoring
- Examination Trends, Issues, and Hot Topics
Who We Serve
Banks, Credit Unions, Mortgage Companies, Credit Associations, Investment & Trust Services
With over 20 years of experience, NETBankAudit guides various financial institutions through technical and regulatory complexities. We provide tailored solutions for banks, credit unions, and farm credit associations, addressing unique circumstances, regulatory needs and budget constraints. Our in-house expertise in security engineering and regulatory environments enables us to identify gaps and deliver clear, actionable guidelines and controls.
Our offerings include but are not limited to:
- IT General Controls, Governance, Management, Operations, and Security Audits utilizing COBIT, NIST, FFIEC, SOX, FDICIA
- Internal and External Network Vulnerability and Penetration Testing
- Social Engineering Testing
- System, Application, and Device Specific Testing and Auditing
- Core Security Review
- Operational Audits – Internet Banking, ACH/Wire, Fedline Assurance, Item Processing, etc.
- BSA/AML/CFT/OFAC Compliance Audits and Model Validations
- Consumer Compliance Audits and Fair Lending Reviews
- Safety & Soundness Audits (ALM / IRR / Liquidity and ALLL) and CECL Model Validations
- Internal Audit Evaluations
- Risk Assessment Facilitations
Executive Services for Technology Providers
Technology Service Providers are subject to regulatory oversight by the FFIEC agencies given the associated risks that they pose. Accordingly, NETBankAudit offers specialized services for technology service providers, focusing on audit, cybersecurity, business continuity, and regulatory compliance.
Our offerings include but are not limited to:
- FFIEC and URSIT Compliant IT General Controls Auditing
- System, Application, and Device Specific Testing and Auditing
- Internal and External Network Vulnerability and Penetration Testing
- Social Engineering Testing
- Multi-Regional Data Processing Servicers (MDPS) Exam Consulting
- Technology Service Provider (TSP) Regulatory Consulting
- ERM and Individual Risk Assessments
- Model Validations
- Policy, Procedure, and Standard Framework Consulting
- Business Continuity and Incident Response Consulting
- Cyber/Information Security and Ransomware Assessments
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Cybersecurity Best Practices for Insurance Companies
Let NETBankAudit utilize its 20+ years of audit, assessment, and testing experience to help your organization meet industry best practices while achieving regulatory compliance.
Our offerings include but are not limited to:
- Internal and External Network Vulnerability and Penetration Testing
- Wireless, VPN, and Social Engineering Testing
- Dark Web Searches
- Cybersecurity and Ransomware Assessments
- Business Continuity and Incident Response Testing and Planning
- Regulatory Compliance
- IT / Operational Audits
- Firewall, Router, and Server Configurations
- Cloud Security
- Password and Active Directory
- Customer Information
Robust IT and Cybersecurity Services for Legal Firms
NETBankAudit offers specialized services to legal practices, focusing on safeguarding confidential and client data while ensuring compliance with regulatory standards.
Our offerings include but are not limited to:
- Internal and External Network Vulnerability and Penetration Testing
- Wireless, VPN, Social Engineering Testing
- Firewall, Router, and Server Configuration Audits
- Microsoft 365 and Active Directory Auditing
- Cloud Security Reviews and Dark Web Searches
- Business Continuity and Incident Response Assessments
- Cyber / Information Security and Ransomware Assessments
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Ensuring HIPAA Compliance and Data Security in Healthcare
Healthcare organizations receive comprehensive support from NETBankAudit in maintaining compliance with healthcare regulations like HIPAA. They offer thorough risk assessments and IT audits to protect patient information and ensure secure operations.
Our offerings include but are not limited to:
- Internal and External Network Vulnerability and Penetration Testing
- HIPAA Privacy and Security Rule compliance
- Electronic health record (EHR) system audits
- Risk assessments and data protection strategies
- IT infrastructure audits
- Incident response and breach management
- Medical device security assessments
- Patient data privacy audits
- Staff training on data security
- Compliance with state and federal healthcare regulations
- Third-party vendor risk assessments
- Continuous monitoring and compliance tracking
Protecting Guest Data and Ensuring Secure Transactions in Hospitality
In the hospitality sector, NETBankAudit helps secure guest data and payment systems. They provide tailored services to address unique security challenges, ensuring compliance and data protection.
Our offerings include but are not limited to:
- Internal and External Network Vulnerability and Penetration Testing
- Data privacy and protection audits
- Cybersecurity risk assessments
- Internal controls and compliance audits
- IT systems security evaluations
- Guest data protection strategies
- Network security assessments
- Employee training on data privacy
- Business continuity planning
- Third-party service provider audits
- Development of security policies and procedures
IT and Cybersecurity Services
NETBankAudit offers various companies of different types and sizes specialized services to help mitigate operational, data security, reputational, and legal risks.
- Internal and External Network Vulnerability and Penetration Testing
- Wireless, VPN, Social Engineering Testing
- Microsoft 365 and Active Directory Auditing
- Business Continuity and Incident Response Assessments
- Cyber/Information Security and Ransomware Assessments
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THE GOLD STANDARD INCybersecurity and Regulatory Compliance
In an era where cyber threats and regulatory complexities are at an all-time high, NETBankAudit stands as a beacon of expertise and reliability for financial institutions. With over 23 years of unparalleled service, we specialize in providing comprehensive IT and cybersecurity audits, BSA/AML/CFT compliance and MIS audits, and regulatory compliance audits tailored to the unique needs of banks, credit unions, technology service providers, and other financial entities.
"NETBankAudit provides us with top notch Information Security Professionals to allow us to continually improve our organizations security posture. Springs Valley is able to utilize them to stay abreast of the changing regulatory and cybersecurity landscape. It is great to have a reliable resource like them as a valued partner."
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"We were very satisfied with the model validation of our Verafin System. The NETBankAudit team was great to work with, very professional and kept us in the loop throughout the engagement. We will definitely consider working with them again for the annual validation"
"NETBankAudit is more than just an audit firm. They take the time to truly understand your organization. By working as a partner they made recommendations that best fit our bank while helping us realize resources that were already at our disposal. The employees we work with are extremely knowledgeable and always available to assist"
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