A remote deposit capture (RDC) program starts with a risk assessment. Easy to say, but do you know the components of an RDC risk assessment? What about the FFIEC requirements? What is senior management’s role? Learn the answers to these questions and more.
- Plan an appropriate and FFIEC-compliant RDC risk-assessment approach
- Identify potential risks in your RDC program
- Assign internal controls to mitigate RDC program risks
- Assess how to improve your RDC policy
- Review and update RDC program procedures
An effective RDC program starts with an RDC risk assessment that complies with FFIEC requirements. Prior to implementation, senior management should identify and assess the associated legal, compliance, reputational, and operational risks. It’s important to ensure that RDC is compatible with the institution’s business strategies and to understand the return on investment. Management should incorporate RDC system assessments,including products and services, into existing risk assessment processes – and determine their ability to manage the risks.