WesPay Advisors offers an RDC Risk Management Review service to assist its members in the development and implementation of their RDC risk assessment and management program. The service was designed to help financial institutions meet the Federal Financial Institutions Examination Council (FFIEC) requirement to "have sound risk management and mitigation systems in place."

This service considers the wide variety of risks associated with RDC and explores personnel, practices and technologies employed to control Operational Risk, Credit Risk, Regulatory/Legal/Compliance Risk, Strategic Risk, Fraud Risk and Reputational Risk.

Benefits of Using This Service

  • An AAP and NCP certified payment expert evaluates your financial institution’s documented RDC risk program
  • Sound practices designed to strengthen your risk controls culled from WesPay Advisors' experience in providing RDC services to members for almost a decade
  • Professional guidance in understanding industry trends and regulations
  • Delivery of a customized, comprehensive review of your organization’s RDC program that evaluates the effectiveness of your current controls and provides recommendations for further reducing the inherent risks associated with RDC services

This Service Includes:

  • A preparation document to assist your staff in understanding the scope, and preparing for the engagement
  • A two-day on-site review of mobile and desktop RDC program policies, procedures, forms, agreements, reports, documentation and business practices
  • Comparison of your program against our inventory of sound practices of peer organizations
  • A written report of findings to include an opinion on current practices and advice for possible improvements that can strengthen your risk mitigation practices
  • Assistance in developing a “dynamic matrix” inventory of the controls and residual risk of your financial institution’s RDC program

Review Process

The review will examine your financial institution’s mobile and desktop RDC program policies, procedures, forms over two business days. All work is completed at your place of business and will engage key stakeholders via in-person interviews.

Essential Areas of Risk Review

The RDC Risk Management Review considers the wide variety of risks associated with offering this service within the context of the organization’s overall enterprise risk. In particular, it explores personnel, practices and technologies employed to control:

  • Operational Risk
  • Credit Risk
  • Regulatory/Legal/Compliance Risk
  • Strategic Risk
  • Fraud Risk
  • Reputational Risk

Pricing

The cost of this service depends on your financial institution’s deposit assets. Contact us for a price quote and to schedule a consultation. Contact us for a price quote and to schedule a consultation.​ 



Compare your operations to sound practices of peer organizations and regulatory guidance.