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Comprehensive Operational & Regulatory Risk Assessments
We provide comprehensive risk assessment services to help institutions identify, evaluate, and mitigate potential threats across various operational areas.
Comprehensive Operational & Regulatory Risk Assessments
We provide comprehensive risk assessment services to help institutions identify, evaluate, and mitigate potential threats across various operational areas.
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Risk AssessmentsActionable Insights to Enhance Risk Mitigation & Regulatory Compliance
NETBankAudit offers proven, workable solutions to address management's growing responsibility for risk assessments. We utilize industry frameworks such as NIST and FFIEC to cover a wide range of risk areas, from enterprise-wide concerns to specific operational risks, ensuring comprehensive coverage of your risk landscape. These risk assessments are often combined with audits and testing to increase effectiveness and efficiency of your operations.
Safeguard Your Institution with Expert Risk Analysis
Comprehensive Enterprise and IT Risk Assessment Services
NETBankAudit provides in-depth risk assessment services focusing on enterprise-wide and IT-related risks. Our experts use industry-standard frameworks to evaluate your institution's risk landscape. We identify vulnerabilities, assess their impact, and develop mitigation strategies. Our services cover areas from enterprise risk management to specific IT and cybersecurity concerns, ensuring a holistic approach to risk assessment.
We provide our clients:
- Enterprise-wide Risk Management (ERM) assessment
- Information Technology Audit risk evaluation
- Information Technology Operations risk assessment
- Cybersecurity risk evaluation
- Virtualization risk analysis
Information Security risk analysis, including:
- NIST 800-30, Rev.1, 800-39 compliance
- GLBA 501(b) requirements
- FFIEC IT Booklet – Info Security alignment
- NCUA Appendix A to Part 748 compliance
- HIPAA – Privacy & Security Rules adherence
- ID Theft/Red Flag risk assessment
Specialized Operational Risk Assessments
NETBankAudit's team of certified Senior Auditors bring over 10 years of industry experience to identify and mitigate risks across financial transactions, project management, external vendors and social media. We provide proven, workable solutions to management’s growing responsibility for risk assessments by providing facilitation assistance, education and training.
We provide our clients:
- Business Continuity Threat and Business Impact Analysis
- Wire Transfer risk assessment
- ACH risk evaluation
- Internet Banking risk analysis
- Remote Deposit & Branch Capture risk assessment
- Project Management risk analysis
- Vendor Management risk assessment
- Social Media risk management evaluation
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Comprehensive Regulatory Compliance Risk Assessments
NETBankAudit offers specialized risk assessment services focused on regulatory compliance. Our experts help financial institutions navigate complex banking regulations, identifying potential compliance risks and developing effective mitigation strategies. We provide comprehensive assessments, gap analyses, and ongoing monitoring to ensure your institution stays ahead of regulatory requirements and minimizes compliance-related risks.
We provide our clients:
- Business Continuity Threat and Business Impact Analysis
- Wire Transfer risk assessment
- ACH risk evaluation
- Internet Banking risk analysis
- Remote Deposit & Branch Capture risk assessment
- Project Management risk analysis
- Vendor Management risk assessment
- Social Media risk management evaluation
- BSA/AML/CFT/OFAC risk assessment
- Consumer Compliance risk assessment
Risk Assessment Methodology Development and Training
NETBankAudit helps financial institutions develop and improve their risk assessment capabilities. We establish robust, tailored risk assessment methodologies and provide staff training on risk identification and management. By building internal capacity for ongoing risk assessment, we help your institution maintain a proactive stance against evolving threats and regulatory requirements.
We provide our clients:
- Development of customized risk assessment frameworks
- Staff training on risk identification and evaluation techniques
- Implementation of risk scoring and prioritization methodologies
- An understanding of inherent and residual risks
- Assistance with risk reporting and communication strategies
- Ongoing support and consultation for emerging risk areas
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.
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"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."
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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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