Audit surveys

An important task of the country’s central bank is, to audit the financial institutions on important areas like security, disaster recovery, liquidity status and many more. The central bank of Curacao and Sint Maarten asked us to design and develop a solution with which the audit department can set up specific surveys (questionnaires) for all or a subset of the institutions. In close collaboration with the central bank we developed Supervised Institutions IT Questionnaires (SIIQ).

The solution has the following functions:

Create questions and questionnaires

The employees of the audit department can create and maintain an extensive set of questions and group these into areas and subareas. Using the wizard, it is easy to compile a specific questionnaire or survey for all or a specific target group (e.g. Insurance, Banks, large or medium sized organizations).

Invitations

The solution also has a database in which all institutions can be registered (The institution Register). Specifics of each institution, like area of business, size, and of course name, address and contacts can be registered.

This Register is used for the invitations. Simply connect a survey to a selection of the institutions and start the invitation.

Each survey has a due date and thus it is easy to keep track of the progress and how much time there is left. If and extension is needed, the contact can ask for it through the website.

Survey webportal

The institutions can answer the questions using the secure webportal. After a proper login and, if required, a multifactor authentication token, the contact enters into a dashboard with all his surveys. He sees the status and can start the survey answering process. If so required, he can also assign parts of the survey areas (e.g. IT security, HR) to other employees.

The web portal also enables the main contact in self-service to add other employees to the Institution Register and change the general info.

Analysis and risk assessments

We have created a unique solution that combines an automated questionnaire with risk-levels in order to audit financial institutions fast and efficient. Areas have a weight number and each question can be labled with a specific risk level. Filled-out questionnaires are automatically analyzed and management reports can be generated on the compliance status of individual financial institutions and on the status of all financial institutions combined.