About
Our Team
Resources
News
Services
Recordkeeping
Data Quality and the Roadmap to Compliance
Insurance Determination
Compliance
Readiness Assessment
Robotic Process Automation
Products
Depositor Data Quality and Compliance Platform
Part 370 Insurance Calculation Engine
Part 370 Claims Management Suite
Our Affiliates
Contact Us
About
Our Team
Resources
News
Services
Recordkeeping
Data Quality and the Roadmap to Compliance
Insurance Determination
Compliance
Readiness Assessment
Robotic Process Automation
Products
Depositor Data Quality and Compliance Platform
Part 370 Insurance Calculation Engine
Part 370 Claims Management Suite
Our Affiliates
Contact Us
Macro Financial Solutions | Financial Institution
16086
page-template,page-template-full_width,page-template-full_width-php,page,page-id-16086,bridge-core-3.2.0,qode-page-transition-enabled,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,footer_responsive_adv,qode-child-theme-ver-,qode-theme-ver-30.7,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-7.9,vc_responsive
Readiness Assessment
Are you on track to comply with FDIC part 370? April 2021 will be here before you know it.
We've put together a short questionnaire to assist institutions easily find out. Complete the form below to take the quiz and get results immediately!
Name
*
First
Last
Email
*
Company
1. Does the Insured Depository Institution have the capability to create a baseline snapshot of all deposit accounts at the end of the business day?
*
The Insured Depository Institution does not have an identified approach to create end of day baseline
The Insured Depository Institution has a procedure in place to create end of the day baseline
The Insured Depository Institution has an automated capability to create end of day baseline
2. Does the Insured Depository Institution have a way to freeze depositor system(s) so that no further changes to account balances or account ownership can take place once end of day baseline has been produced?
*
The Insured Depository Institution does not have the capability to freeze all depositor system activity
The Insured Depository Institution has a procedure to take all depositor systems offline and freeze activity
The Insured Depository Institution IT has an automated solution which freezes all depositor systems
3. Does the Insured Depository Institution have the ability to establish a "single customer view" of their customers across their depositor systems? [This is key to determining account ownership and insurability participation.]
*
A single customer view is not currently available
A single customer view is possible but requires manual aggregation
A single customer view is available
4. Does the Insured Depository Institution have their customer accounts mapped to the 14 Federal Deposit Insurance Corporation’s (FDIC) account categories?
*
Products are not mapped to FDIC categories
Some products are mapped while others require manual mapping
All Products are mapped to FDIC categories
5. Does the Insured Depository Institution have the capability to determine if the baseline of depositor data is complete by reconciling the baseline with the financial system General Ledger?
*
The Insured Depository Institution does not have the capability to perform this reconciliation
The baseline data can be manually reconciled with General Ledger
The Insured Depository Institution has automated capability to run and reconcile baseline report with General Ledger
6. Does the Insured Depository Institution have an automated solution to determine insurance on the depositor baseline while taking into consideration the rules of the FDIC account categories? [This capability is required to be able to create a "Depositor Summary" report.]
*
The Insured Depository Institution has no clearly articulated method to perform the insurance determination
The Insured Depository Institution has a manual process to perform the insurance determination
The Insured Depository Institution has an automated solution to perform insurance determination
7. Does the Insured Depository Institution have the ability to generate a FDIC "Depositor Summary" report and the other files (Customer Information File, Account Information File, Pending File, etc.)?
*
The Insured Depository Institution cannot create the required reports/files
The Insured Depository Institution can create some reports with depositor insurance data
The Insured Depository Institution has the ability to produce the required reports in an automated fashion
8. Does the Insured Depository Institution have the capability to allocate accounts pending insurance determination to agents to review and make manual insurance determinations?
*
The Insured Depository Institution has no approach to make manual insurance determination
The Insured Depository Institution has manual procedures to make insurance determination
The Insured Depository Institution has the ability to review and determine insurance through manual intervention
9. Does the Insured Depository Institution have the capability to update the depositor system(s) insured amounts and details on insurance determination transactions?
*
The Insured Depository Institution does not have the ability to update the depositor systems
The Insured Depository Institution has a partial capability to update the depositor systems
The Insured Depository Institution can update the depositor system(s) with determined insured amounts
10. Does the Insured Depository Institution have all the required records to support that the depositor accounts belong to the appropriate FDIC categories? [e.g. The JNT account should have a signature card and account share allocation record in case the participants are not equal partners.]
*
The Insured Depository Institution meets the record keeping requirements for less than 50% of FDIC account categories
The Insured Depository Institution has perfect record keeping for more than 50% of FDIC account categories
The Insured Depository Institution has perfect record keeping for each of the FDIC account categories
