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IDBI Intech - RBI Working Group Consulting

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RBI Working Group Consulting

RBI Working Group Consulting

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  • 1. Compliance Consultancy ServiceRBI - Guidelines to banks“The RBI Working Group examined various issues arising out of the use of Information Technology in banksand made its recommendations in nine broad areas. The areas are IT Governance, Information Security, ISAudit, IT Operations, IT Services Outsourcing, Cyber Fraud, Business Continuity Planning, CustomerAwareness programmes and legal aspects.” - Guidelines on Information security, Electronic Banking,Technology risk management and cyber frauds, RBI. April 29th 2011 Why should this matter to you? RBI has penalized 19 commercial banks for contravention of various instructions with respect to derivatives. These include failure to carry out due diligence in regards with suitability of products, selling derivative products to users that don’t possess risk management policies and not verifying the underlying / adequacy of underlying and eligible limits under past performance route. Penalty charges varied from Rs. 5,00,000 to 15,00,000 respectively. (Source: The Financial Express; July 26, ’11) 48 erring banks have been penalized in just 6 months (January ’11 – June ’11) for lapses in implementing customer identification norms and various other violations. RBI has slapped penalties ranging from Rs.1,00,000 to 5,00,000 on these banks, according to official data. (Source: Press Trust of India; July 10, ‘11) RBI penalized a US-based bank with a soaring Rs. 25,00,000 in early July ’11, due to contravention of various guidelines and instructions relating to KYC (Know your Customer) and AML (Anti Money Laundering) standards. (Source: Rupee Times, July 12, ’11) Our goal is your success. Give us an opportunity to help manage your compliance needs.How can we help? We understand that your key focus-areas are banking operations for productivity Your Key and quality, administration, training, capital markets & treasury, wealth management, trade finance and multiple such verticals that demand a majority of Focus Areas your teams’ efforts, intelligence and performance to accelerate the growth of your organization. 1|Page
  • 2. We focus on your organization’s processes & systems being compliant with RBI’s guidelines in a very time-effective & cost-effective method. We design our Solutions & Services to suit individual client needs. We provide assistance to Our Area of clients in managing their key business concerns, be it achieving strategic business Expertise goals, meeting operational challenges and most importantly complying with regulatory norms. We understand the need and advantage to be compliant with the guidelines recommended by the RBI Working Group and we take the lead to ensure your operations comply. RBI’s 9 Focus Areas Information Technology as we know, has not only opened up new possibilities to deliver enhancedcustomer service, but has also allowed rogue elements to create systemic disasters that result in capitallosses. In April 2011, under the Chairmanship of Mr. G. Gopalakrishna, Executive Director, RBI, a speciallyformed working group examined various issues arising out of the use of Information Technology in banksand made its recommendations in nine broad areas. They are as follows: Information IT Governance IT Operations Security IT Outsourcing IS Audit Cyber Frauds Business Customer Legal Issues Continuity Education PlanningOur SolutionWith a unique blend of functional expertise, IT and Information Security Consulting expertise, we deliver atruly world class service to scope the relevant recommendations that apply to your business, to identify High Level Approachthe gaps in your systems and processes, and to define the way forward to bridge the emergent gaps in acost-effective way. 1 2 3 Non- Scope Gap Gap Closure Compliant Compliant Definition Identification IDBI Intech Limited - Relevant Consulting Capabilities Network IT Governance BCP & DR IS Audit Architecture VA&PT ITIL/COBIT Consulting Consulting Review Application Data Migration ISO Training CBS Audit SOC / MSS Assurance Audit Certification 2|Page
  • 3. About IDBI Intech Domain Experts with 15+ Years of Experience 1000+ Strong Techno-functional experts Our Focus BFSI Technology Experts with 5+ years of average Industry Experience Clients Our Offerings Highly Process Oriented Products and Solution Accelerators Adopts Scalable Business Model Comprehensive IT Consulting Delivers Cost-Effective, High Information Security Consulting Quality SolutionsContact UsMr. Malik Ismail Mr. Pramod GosaviBusiness Development Manager – Sales & Marketing Head – Professional ServicesMob No: +91 720 942 9678 Mob No: +91 989 030 4884Email Address: malik.ismail@idbiintech.com Email Address: gosavi.pramod@idbiintech.com 3|Page