Compliance - Savid Technologies

Compliance

FFIEC: (Federal Financial Institutions Examination Council)

Financial institutions are susceptible to uniform principles, standards, and report forms stipulated by the FFIEC. If your business falls under the jurisdiction of FFIEC rules and regulations, Savid helps integrate FFIEC standards into the daily practice of your business.

SOX: (Sarbanes-Oxley Act of 2002)

In the wake of major corporate accounting scandals, SOX has established wide-ranging reforms in financial accounting and reporting activities and disclosure. Savid aids companies with the compliance of these practices and provides timely, accurate information to proactively identify and address high risk information areas. Information Technology practices should adhere to the COSO framework in order to comply with SEC regulations.

Understanding the areas of risk affecting the validity and completeness of financial reports. Savid conducts a risk-assessment analysis to identify areas of high risk
Creating an environment where employees take ownership in the success of projects in order to encourage them to take concern with the success of the organization. Savid evaluates and reconfigures practices and procedures to actualize such an environment where employees have a stake in the success of the organization
Addressing high risk areas with frequently scheduled internal audits. Savid develops a plan to appropriately monitor high risk areas and identifies a clear method to communicate errors to management

GLBA: (Graham-Leach-Bliley Act)

It is mandatory for companies that receive and handle personal financial information from their customers to comply the rules defined in the GLBA. Savid makes sure you are complying with GLBA rules by safely and confidentially handling nonpublic customer information.

The Financial Privacy Rule describes how companies must keep their clients informed on how they are using their nonpublic information. Annual privacy notices must be provided to customers that detail where the information is shared, how the information is used, and how that information is protected
The Safeguards Rule requires companies to have written plans that describe how clients’ nonpublic personal information is being protected and how the company will continue to protect such information. Savid helps companies write, develop, and implement an information security plan into your existing infrastructure that prepares your company for dealing with clients' information

ITIL: (Information Technology Infrastructure Library)

Information Technology has developed standards that are designed to deliver high financial quality and value in IT operations. ITIL delivers a customer focus to managing the IT infrastructure by defining a set of management procedures across IT infrastructure, development, and operations. Complying with ITIL may be necessary for organizations that do business with other organizations. Organizations that are ITIL compliant often expect their partners to be ISO 9000 certified as well. Savid assists your organization with adapting to ITIL standards and procedures. Savid seamlessly adjusts your existing practices to qualify for ISO 9000 certification without causing a major disruption in your business.


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