cuasterisk.com » Auditing

CU*BASE Upgrade Includes New Security Audit Reports

Tony Muka — Tue, 10 Nov 2009 18:06:18 +0000

CU*Answers continues to provide its credit unions with features embedded within its core processing system, CU*BASE, to assist them in remaining compliant in a strict regulatory environment. Some of the newest tools include two new Employee Security Audit Reports on the Auditing menu.

According to the CUSO, the addition of these reports as a menu option eliminates the need to design special queries to access the data in security files. The first of the reports, the Employee Security Audit Report lists several different employee security settings, including: Profile and Special Security (update special security), Account Security (update account security), and Employee Menu Security (menu security). The second option is a shorter Menu Security Audit Report, which includes a quick summary of menu option security, and lists each selected menu showing which employee has access to it. This report is used for a quick review when doing audits on who has access to a particular menu and which options they have access to.

This enhancement will be available credit unions beginning November 15^th.

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ACH Audit Spurs Compliance Reminder for CUs

Tony Muka — Tue, 10 Nov 2009 17:58:06 +0000

CU*Answers recently underwent its annual ACH Audit to verify compliance with the NACHA Operating Rules and to meet applicable audit requirements. According to the ACH Annual Audit Report, no exceptions were noted. The recent Audit spurred the CUSO to publish a memo to its online credit unions describing the actual scope of the audit and to remind credit unions of their responsibility for remaining in compliance with ACH guidelines.

Of the recommendations made by CU*Answers, credit unions are urged to become very familiar with the “Smart Operator” menu option included in CU*BASE. The menu provides information on daily tasks CU*Answers operators are performing on behalf of the credit unions and will assist in providing auditors with proof of timing of the posting of the files and return of specific items.

The scope of the audit did not include the audit requirements as indicated within Appendix Eight – Section 8.3 – Audit Requirements for Originating Depository Financial Institutions as the Company does not perform originations for corporate businesses. The CUSO is careful to note that compliance with requirements of this section would be the responsibility of the member credit union.

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WESCO Net Re-launches Latitude Portal

Tony Muka — Mon, 03 Aug 2009 13:59:24 +0000

WESCO Net, a leader in network security consulting services for credit unions based in Grand Rapids, MI announces the launch of their upgraded Latitude Portal.

The improved Latitude Portal provides paperless forms clients can submit online. The new version includes: digital signature confirming authentication of submitted requests; immediate catalog of submissions; and ongoing tracking of client requests.

According to WESCO Net, credit unions will have a simpler time auditing because of Latitudes ongoing tracking of submissions. Latitude gives businesses the ability to present auditors with a complete list of all requests that came through without having to shuffle through archived emails and files. Documentation stored shows who requested them, what was requested, when it was completed and who at WESCO Net completed the change.

Matt Sawtell, CISSP, says, Latitude will be extremely helpful to credit unions. With a simple click, you can review all the changes completed for your company at any given period of time, saving you hours in auditing.

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New Client Portal Aids in Credit Union Compliance

Tony Muka — Wed, 28 Jan 2009 14:36:30 +0000

WESCO Net, a Grand Rapids, MI-based provider of managed network solutions announced the launch of Latitude, its new client portal site. Latitude is a free service to WESCO Net managed server and firewall clients that will provide real-time access to the latest statistics and information about their WESCO Net managed devices.

According to WESCO Net, their goal is to provide an easy interface to important status information, historical and live reports, and online forms and help desk.

“One of the exciting features of this service is providing our clients online access to their firewall reports and live access to reports and information about their servers and workstations,” says Matt Sawtell, CISSP with WESCO Net. “Auditors love when a credit union has this access on demand and it helps satisfy the NCUA regulations concerning third party management oversight.”

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