FEDLINE SECURITY & CONTROLS PROCEDURES AUDIT
Assess your FedLine Solutions to ensure security with electronic funds transfers and compliance with Federal Reserve requirements.
Assess Your Fedline SOLUTIONS
For FedLine customers, validate your internal security policies and procedures for electronic funds transfers, such as wire transfers and ACH.
METHODOLOGY
This assessment addresses FedLine Advantage customer requirements by the Federal Reserve to demonstrate adherence to internal organizational security policies and procedures, industry best practices, and supervisory guidance.In accordance with Operating Circular 5, Electronic Access (OC 5), our expert team reviews the policies, procedures, and processes implemented by your organization to prevent fraud, unauthorized access, or other unauthorized use of an electronic connection (wire transfers, ACH) using criteria that meets the standards of the FedLine Security and Controls Procedures. Our deliverables will provide you line-by-line controls analysis, as well as customized, prioritized recommendations for remediation.
SCOPE
Our FedLine Security & Controls Procedures Audit includes expert review of 56 controls, as well as a gap assessment against regulatory standards.
All FedLine Solutions are included in this assessment:
Control areas assessed include:
RESULTS
As a result of our exhaustive approach, our security audits uncover our clients’ true present-day risk, much to their satisfaction:
of the time, regardless of prior audit, BAI reveals serious, previously undetected issues in new client environments. of recently surveyed clients rate the Depth and Comprehensiveness of their BAI Security audit as “Good/Excellent.” of recently surveyed clients rate the Quality & Value of BAI's Deliverables as “Good/Excellent.” of recently surveyed clients rate our security auditors' Communication & Professionalism as “Excellent.”
Fedline security & ControlS Procedures AUDITS
FedLine Advantage is web-based, layered security solution facilitating electronic payment services, such as wire transfers and ACH, as well as electronic access to information services and applications. FedLine Advantage has both hardware and software components and is delivered by The Federal Reserve via subscription.
The Federal Reserve Banks require that the security and control procedures be implemented by each FedLine Advantage customer pursuant to the terms and conditions of Operating Circular 5, Electronic Access (OC 5), and these procedures are part of the security procedure agreement under specific Operating Circulars. The FedLine Advantage Solution has been designed using a layered security model. To supplement the security of the FedLine infrastructure, the Federal Reserve Banks expect organizations to follow internal organizational security policies and procedures, industry best practices and supervisory guidance. BAI Security’s FedLine Security & Controls Audit validates adherence to these requirements.
Examples of information BAI Security reviews as part of this assessment include:
- Wire transfer terminal configuration documentation
- Training documentation of employees over wire transfer practices and organization training policy
- Policies and procedures in place over administrative, technical, and physical safeguards covering the organization’s wire transfer infrastructure
- Business and IT operations documentation
- Sanction and disciplinary policies and procedures over privacy violations
- Business continuity documentation
- Data handling procedure documentation
- Assurance documentation relating to the review and audit of wire transfer controls
The professional experience and technical expertise made the choice an easy one… exceptional results. We are completely satisfied.
There are a lot of service providers out there, but your staff were personable, friendly, knowledgeable and made it very clear they were there to help us get better, not to find as many exceptions as possible.
They go out of their way to be helpful, offering guidance (not a cookie-cutter approach). We chose BAI because of their reputation. We went back because of their people and professionalism, the depth of their technical knowledge, and friendliness.
Far more extensive test than any we have had in the past… The reps are 100% on your project and always available to give you feedback.
Outstanding platform for vulnerability remediation. Everyone I talked to from sales folks to technical experts were all great to work with and very knowledgeable.
The experience was great, and I felt that BAI had my back. The techs were great to work with and helped me resolve security issues. They were working with me to correct issues rather than just pointing out what was wrong.
There are many players in this field. I contacted some of my industry peers and asked who they used. BAI came in at the top.
I love how in the final deliverables recommendations are provided. I’ve seen other solutions (and past vendors) who simply tell you what’s wrong without any help to remediate.
The dedicated engineer that learns our environment is huge! Also, the reporting is as high level or granular as you need it to be.
We have worked with BAI Security for 5+ years. They are professional, knowledgeable and personable. The technicians have a great understanding of our complex infrastructure
Price was right, service was excellent, and the final deliverables were outstanding. Great team.
