Wire Transfer Risk Assessment and Audit of Internal Controls

Wire Transfers are becoming more of a focus for regulatory agencies during yearly exams. Wire transfers are attractive to business customers and consumers because they allow funds to settle same day, additionally, wire transfers are irrevocable; both attributes make wire transfers a signification risk. Let one our payments experts complete an assessment of your institution’s wire transfer program to ensure your program is following regulatory guidelines. The service includes review of compliance with FFIEC Guidance. All methods in which the financial institution receives wire requests are considered during the review.

The PaymentsFirst Wire Risk Assessment and Audit of Internal Controls service includes:

  • Prior to and onsite checklists
  • Client questionnaire
  • Review of sound business practices and internal controls
  • Review of agreements
  • Exit interview
  • Written report including findings and/or recommendations
  • Risk Assessment Certification form
  • Access to auditor for questions

Compliance Services Request Form

Tip: Schedule early to ensure availability, efficient preparation time and to avoid additional charges.