Gramm-Leach-Bliley Act (GLBA) Compliance Services
The Gramm-Leach-Bliley Act (GLBA) of 1999 not only de-regulated the Banking & Financial Services industry, but through its passing also required these institutions to respect the privacy of their clientele and keep confidential their customers' nonpublic personally identifiable information. The GLBA regulations grant specific rights to people regarding their financial information and define the obligations of protecting that information by the banking and financial services institutions.
Sunera can perform an examination of a bank or financial institution’s customer information safeguards as required by Section 501(b) of the GLBA. We can perform this examination according to the audit procedures specified by the OCC 2001-35 bulletin entitled “Examination Procedures to Evaluate Compliance with the Guidelines to Safeguard Customer Information.” Specifically, our examinations include the following control objectives:
- Objective I: Determine the involvement of the board.
- Objective II: Evaluate the risk assessment process.
- Objective III: Evaluate the adequacy of the program to manage and control risk.
- Objective IV: Assess the measures taken to oversee service providers.
- Objective V: Determine whether an effective process exists to adjust program.
- Objective VI: Summarize and communicate your findings.
Once our examination is completed, Sunera provides the institution with a completed work program from the OCC 2001-35 bulletin, specifying the examination procedures performed as well as the results of the procedures. In addition, our examination findings will be organized in a formal report to management summarizing the procedures performed, personnel interviewed, documentation reviewed and the corresponding results.
