Among other requirements,
The Federal Deposit Insurance Corporation Improvement Act of 1991 ("FDICIA")
mandated that U.S. banking companies with greater than US$500M in total
assets review annually their internal controls.
Kilclare's VISUAL Assurance assessment tool has proven extremely useful
in assisting covered institutions comply with this requirement since
1993. Many U.S. banking companies are currently deploying VISUAL Assurance
for this purpose, a few of which are listed below.
These banks have
implemented our VISUAL Assurance assessment application along with our
FDICIA customized content material to craft the perfect FDCIA Solution
for their organization. Our FDICIA implementation can have your organization
up and running quickly and with a minimum of effort. Our FDICIA Solution
facilitates an 8-step process, as illustrated in the following views:
STEP 1: Identify
all reporting business units. 
VISUAL Assurance,
or "VA", allows the user to create custom views of their organization
by building in the business entities associated with FDICIA reporting.
STEP 2: Identify
what needs to be assessed. 
Next, one selects
from the available content. These templates can be a good starting point
from which an organization can build its compliance assessments. Beginning
with either Kilclare templates or those prepared by others, they customize
the provided content to best suit their organization. VA's powerful
authoring facility makes this customization possible.
Important Note to
FDICIA Assessors: Kilclare has, solely as a convenience to users, grouped
a set of knowledgebases from several source documents and made them
available as a single download file, "LIBRARY: FDICIA COMPLIANCE
CORE FROM SEVERAL SOURCES". This set in no way intends to represent
legal advice around the sufficiency or appropriateness of a FDICIA compliance
solution. In creating this Core set Kilclare has grouped functional
topics that may be common to banks regardless of size and, as such,
may be a good starting point for FDICIA banks to consider, when crafting
their unique FDICIA solution. Determinations over the appropriateness
of FDICIA review scope should be made by each bank in consultation with
bank counsel and the independent accountants attesting to the bank's
FDICIA assertion. 
STEP 3: Match business
unit to relevant content. 
The bank then attaches
the relevant content material to each business unit thereby creating
and assessment.
STEP 4: Perform
assessment. 
STEP 5: Provide
for independent validation. 
The assessment is
then completed, either centrally by the person handling the FDICIA compliance
program or by the individual departments being assessed. The assessment
is performed by providing responses for the listed controls. Once completed
throughout the organization, VA provides the necessary reports to the
attesting auditors.
STEP 6: Report.
Steps 7 & 8
provide for the necessary corrective action planning and ongoing monitoring.
In determining the
correct FDICIA solution for your organization, review the available
editions (e.g. Standard vs. Professional) and the available content
from among the knowledgebases available under our Financial Services
- U.S. content offerings.
Equally, click here
to download our FDICIA Compliance Solution brochure and share it with
your colleagues with whom you rely to complete the FDICIA work. Alternatively,
give our Client Services Center a call to help walk you through our
available options.
Click on the FINANCIAL
SERVICES/U.S. link under the CONTENT heading at the left to review the
template materials available from Kilclare to effect an appropriate
FDICIA solution for you institution.
