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Wire Transfer Risk Assessment & Audit of Internal Controls

Wire transfers are becoming more of a focus for regulatory agencies during yearly exams. Wire transfers allow funds to settle same-day and are irrevocable, making them attractive to business customers and consumers, but they can also be a significant risk to the financial institution.

Let one our payments experts complete an assessment of your institution’s wire transfer program to ensure it follows regulatory guidelines. When you choose PAR for your risk assessment needs, you can rest assured that we adhere to the highest industry standards. We are committed to ensuring your organization remains compliant and secure, and we will answer all of your questions along the way.

Wire Transfer Risk Assessment & Audit of Internal Controls Includes:

  • Prior to and onsite checklists
  • Client questionnaire
  • Review of:
    • Compliance with FFIEC Guidance
    • All methods in which the financial institution receives wire requests
    • Sound business practices and internal controls
    • Agreements
  • Exit interview
  • Written report including findings and/or recommendations
  • Risk Assessment Certification form
  • Access to auditor for questions
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