Our goal is to provide specific recommendations to modify existing processes in order to close the gap between current processes and the FFIEC’s expectations. Our consultants work with clients to assess current strategies, workflow design and operational effectiveness. We will help refine your existing fraud and identity management processes to ensure that your organization meets the FFIEC’s expectations by:
Authentication process review: Assesses how you handle OOW authentication for new and existing customers across all contact channels, including call center and Internet interactions.
Question “strength” analysis: Reviews the question strategy used when authenticating an individual.
Authentication cost analysis: Ensures you are using the most cost-effective approach to authenticate your customers.
Reporting analysis: Reviews your authentication reporting strategy to determine how well it monitors and assesses the effectiveness of your authentication process.
- Gap documentation — comparison of current OOW processes to industry best practices and FFIEC guideline expectations, including:
- Compliance road map — documented steps needed to meet FFIEC expectations in a timely manner, sequenced in evolving progressive steps that address the most pressing issues in a logical order
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FFIEC Consulting Review
To learn more about a FFIEC Guidelines Consulting Review, complete this form to help determine whether your bank will benefit from a consulting review session.