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More about RCL's Risk Management Services:

RISK ANALYSIS REVIEWS

RCL offers several different types of Risk Analysis Reviews ("Reviews"):

• Fidelity Bond
• Commercial Crime
• Professional Liability
• Electronic Computer Crime
• Unauthorized Trading
• Directors & Officers Liability
• Internet and E-Commerce Crime
• Transit
• Electronic/Voice-Initiated Funds Transfers

• Identifying and evaluating operating risks in business processes.
• Assessing loss exposure from crime, fraud and other operational risks.
• Determining the adequacy of loss control procedures (also know as "preventive controls").
• Providing information to optimize risk minimization efforts.
• Promoting internal communication concerning loss exposures.

The goals of RCL's Reviews is to: (1) provide management with a focused, objective assessment of loss exposures and (2) reduce loss exposures to acceptable levels. Please note that Reviews are designed neither to detect fraud, should any exist, nor to verify the accuracy of accounting and other records.

Typical Reviews

Ideally, RCL's Reviews consist of two phases:

• Phase 1 - Initial Review - during which, after completion of on-site data gathering, RCL produces a report typically describing: (i) pertinent descriptions of preventive control processes within reviewed areas and (ii) changes made or planned in these areas. Risks resulting from vulnerabilities and /or deficiencies in preventive control processes are described in detail together with recommendations to correct perceived deficiencies.
• Phase 2 - Follow-up Review - Within 6 to 12 months following issuance of the initial report, a second Review is performed to: (i) identify/report changes that have occurred as a result of Phase 1 work and (ii) provide confirmation that significant exposures have been appropriately addressed.

At the conclusion of each Review phase, clients receive written reports to: (i) ensure the accuracy of data presented and (ii) provide a basis for subsequent actions to reduce operational risks to acceptable levels. When the purpose of the Review is to obtain insurance coverage (e.g., Bankers Blanket Bond, Commercial Crime, Directors and Officers Liability, E-commerce), RCL's reports are then provided to insurance underwriters.

RCL, with the aid of its corporate partner, CyberCommunications, Inc., also offers:

• Internet Security Testing; click here for a description of Internet Testing services.

• Network Security Reviews.

RCL's Approach

In completing our on-site data collection, RCL interviews officers, managers and employees in selected areas. The information gathered is supplemented by inspection of written policies and procedures, internal audit reports and other applicable management information.

Interviews are designed to gather information about individuals’ duties, authorities and work routines. As part of these processes, RCL's interviewers determine employees’ or units' capabilities with respect to receiving, reviewing, approving, carrying-out and reconciling risk-intensive transactions. Care is taken to ensure that actual work habits are analyzed, rather than those that may be prescribed by policies and procedures.

For more information about the scope of RCL's Risk Reviews, to obtain a quote for these services or to schedule a Risk Review, contact us at:

Click here to email RCL for client references or to request our complete brochure.

(Last updated: February 20, 2008 )