Audits, Assessments, & Compliance Reviews for Financial Services
NETBankAudit provides financial service providers with expert cybersecurity and compliance audits, enabling you to manage risks effectively and secure your growing network of branches and services.
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 circumstance, regulatory needs and budget constraints.
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 / 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
- Technical and Regulatory Consulting
Outsourced Internal Audit & Risk Management Services
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.
- 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
- 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/OFAC Risk Assessments
- Fair Lending and Consumer Compliance Risk Assessments
- Vendor Management Risk Assessments
- Social Media Risk Assessment
Advanced Vulnerability and Penetration Testing
Our vulnerability and penetration testing services provide a detailed analysis of your IT infrastructure, identifying security weaknesses and potential vulnerabilities. NETBankAudit employs a combination of NIST and FFIEC guidelines to ensure comprehensive testing.
- External and Internal Network Vulnerability Assessments with Penetration Testing
- Cyber-Scenario and Wireless Testing
- Firewall, Router, and Server Configuration Audits
- VPN Penetration Tests
- Active Directory and Password Audits
- Dark Web Search
- Microsoft 365 & Azure Security Assessments
- Google Workspace & Cloud Assessment
Effective Social Engineering Testing for Banks and Credit Unions
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.
- Conduct phishing email simulations.
- Perform pretext calling tests to assess information security.
- Execute unannounced on-site social engineering tests.
- Evaluate the effectiveness of security awareness training.
- Provide recommendations for improving employee vigilance.
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
- Active Directory and Configuration Management
- Vendor Management, Due Diligence, and Ongoing Monitoring
- Examination Prep using URSIT
Outsourced Internal Audit & Risk Management Services
Outsourced Internal Audit Services
NETBankAudit offers comprehensive internal audit services, seamlessly integrating with existing programs to enhance security posture. 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.
- 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
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
- Cybersecurity Controls Evaluation
- Ransomware Assessment
- IT and Operational Risk Assessments
- Business Continuity Risk Assessment and Business Impact Assessment (BIA)
- Vendor Management Risk Assessments
- Social Media Risk Assessment
Advanced Vulnerability and Penetration Testing
Our vulnerability and penetration testing services provide a detailed analysis of your IT infrastructure, identifying security weaknesses and potential vulnerabilities. NETBankAudit employs a combination of NIST and FFIEC guidelines to ensure comprehensive testing.
- External and Internal Network Vulnerability Assessments with Penetration Testing
- Cyber-Scenario and Wireless Testing
- Firewall, Router, and Server Configuration Audits
- VPN Penetration Tests
- Active Directory and Password Audits
- Dark Web Search
- Microsoft 365 & Azure Security Assessments
- Google Workspace & Cloud Assessment
Effective Social Engineering Testing for Banks and Credit Unions
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.
- Conduct phishing email simulations.
- Perform pretext calling tests to assess information security.
- Execute unannounced on-site social engineering tests.
- Evaluate the effectiveness of security awareness training.
- Provide recommendations for improving employee vigilance.
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
- Active Directory and Configuration Management
- Vendor Management, Due Diligence, and Ongoing Monitoring
- Examination Prep using URSIT
Value-Add ConsultingLeveraging Decades of Industry Experience
Our Value-Add approach to auditing and compliance provides tailored, actionable advice drawn from our experts' practical industry experiences.
- Senior-level auditing team each bringing 10+ years of industry and regulatory experience.
- Our team has broad expertise with certifications from CISA, CISSP, CISM, CRISC and more.
"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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"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 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 appreciate working with professionals respected in the financial services community for their individual expertise and their attention to detail in the audit programs. Always accessible when we need their assistance. "
"We have been doing business with NETBankAudit since 2018 and their team of professionals have been amazing to work with. They are experienced, objective, and responsive in performing our audit. Plus, they have been readily available to assist us with any issues during regulatory exams."
"The auditors have been very helpful and patient in giving us guidance with starting, developing, and improving our cybersecurity program. We have an active relationship with NETBankAudit and they are not just an audit firm. NETBankAudit wants us to succeed and not only meet regulatory requirements but understand them as well."
"First Citizens National Bank selected NETBankAudit to provide audit services for Information Technology Systems in early 2005. Since that time, we have added cybersecurity, digital banking, and network penetration testing. NETBankAudit is not only our auditor, but our partner in developing new digital strategies, policies and procedures. When we are implementing anything digital, NETBankAudit is a resource we use to ensure we have covered all aspects of risk management"
"We were very satisfied with our first NETBankAudit experience and impressed with the thorough report. Working with our assigned auditor was a pleasure - he possesses great field experience and regulatory experience that was very helpful to us."
"NETBankAudit's auditor was very knowledgeable and explained clearly what was needed from our side to help complete the audit as well as providing clear recommendations on where we could improve our controls. The audit was done very professionally. Everyone here at SECU that interacted with NetBankAudit here at SECU had the feeling of a partner."
"NETBankAudit serves as our internal auditing team. Their attention to detail and mastery of regulations are invaluable tools to our organization. During the audit, when they have a recommendation or finding, they partner with us and aide us in an internal audit liaison capacity. It is not a typical auditor firm’s approach, who just present their report and findings with limited direction or follow-up. NETBankAudit’s approach also helps us prepare for regulatory reviews with regular “heads-up” guidance and coaching. The examiners value NETBankAudit’s quality and depth of coverage and leverage the detailed audit work papers to facilitate the examination process. "
"Being a community bank in a heavily regulated industry, we are constantly challenged to keep pace with expectations for protecting our informational and operational technology against existing and emerging threats. NETBankAudit provided the cost-conscious bank-specific auditing solution we were looking for. Their team of experienced professionals has been more than helpful in fine-tuning our policies and procedures, and the audits were thorough, informative, and meaningful. By making themselves available for consultation or assistance between audit cycles, it is more of a “we” engagement and not an “us vs. them” engagement that really distinguishes NETBankAudit from others we have used in the past."
"We are very satisfied with NETBankAudit’s IT Audit services. The people we worked with are very personable, knowledgeable, and professional."
"We've partnered with NETBankAudit for over 10 years. We know we'll always receive a thorough review, but the service is always above and beyond our expectations. NETBankAudit keeps us apprised of recent regulatory changes, potential exam issues, and other areas for focus. Engaging NETBankAudit is creating a partnership for the future."
20+ Years of Serving Clients Across the United States
For over 20 years, NETBankAudit has been a reliable partner to financial institutions across the United States, providing specialized IT and cybersecurity audits, risk assessments, and compliance solutions. Catering to a diverse clientele ranging from small community banks to large credit unions, the firm has served over 800 organizations in 38+ states. Our commitment to quality, focus, and expertise has been unwavering.
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Mitigate Risks with Comprehensive Audits & Assessments
FAQs
Our goal is to equip institutions with the knowledge needed to make informed decisions, strengthening your compliance, security, and operational efficiency.
Transaction monitoring systems are sometimes inadequately calibrated, resulting in too many false positives. This may impair the detection of potentially suspicious activity. Also, if a system is generating too few alerts, unusual activity may be undetected. A regularly scheduled review by an independent party and thorough analysis of filters and settings can ensure the transaction monitoring system is effective and performing as designed.
Change management in cloud environments offers unique challenges over on-premises technology environments due to the underlying cloud platform changes. Organizations need to have a solid understanding of what aspects of the cloud environments are being used and a current inventory should be maintained. Monitoring notifications and alerts on changes from the cloud provider should be performed and assessed if the changes will impact the organization's services. When impactful changes are identified technical staff should communicate these to the end users and perform training as needed. Traditional change management procedures should also be performed such as documenting user access changes, obtaining authorization for adding new services, and routine review of services and removing inactive assets.
NETBankAudit is a specializes in cybersecurity and regulatory compliance. We offer audits, testing, and consulting services. We perform over 250 IT/Operations and Regulatory Compliance Audits per year. We perform over 700 external and internal network vulnerability assessments with penetration testing per year. Our consulting primarily consists of risk assessment facilitation, model validations, program development, and Project Management/SDLC oversight.
NETBankAudit was formed in 2000 by a team of IT bank executives and regulatory specialists. Convinced that advancements in information technology would significantly affect the future of banking, particularly in the movement of money and data through electronic channels, the team resolved to help bankers adjust to this changing environment. Since then, we have expanded to service over 800 institutions across 38 states.
Yes, NETBankAudit has been a virtual company since inception. We provided our first fully remote IT General Controls Audit in 2017 and validated our processes through the COVID Pandemic. Our remote audits are approved by all regulatory authorities.
NETBankAudit provides a value-add approach to our audit process to serve as a true audit partner. Every auditor on our team has senior/executive level banking, operational, and/or regulatory experience in addition to certified auditing expertise. This provides our auditors with an informed perspective to prioritize recommendations to increase effectiveness, efficiency, and compliance.
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