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Your Cybersecurity Resource for Financial Institutions

Join Robert Kluba, Managing Director of AuditOne LLP for the next Financial Services Cybersecurity Roundtable on August 20th!

Title: High-Risk Vendors and the Importance of SOC1/SOC2 Reports

Description:  To demonstrate effective oversight of high-risk vendors, financial institutions must assess the adequacy of the service provider’s procedures and controls, and their ability to timely recover from significant business contingencies.  Most vendors undergo an independent, standardized control review according to AICPA guidelines and the resulting report is made available to help current and prospective clients assess the vendor’s control adequacy.  New AICPA guidelines (SSAE 19) went into effect on July 15, 2021 for conducting control reviews of third-party service providers.  Robert Kluba, Managing Director of AuditOne LLP, will discuss the SSAE 19 review process, the information included in the SOC 1 and SOC 2 reports, and how financial institutions should make effective use of these reports in assessing vendor controls.

You Will Learn:

  • Overview of the SSAE 19 reviews.
  • Brief overview of the difference between SOC 1 and SOC 2 reports and important changes in the new SSAE 19 guidelines.
  • Content included in SOC reports and important things to look for.
  • Financial institution best practices for documenting SOC report reviews and related action items.
  • Things to consider if a vendor does not have a SOC report or other evidence of independent control review.

Speaker: Robert Kluba oversees all SSAE18 (SOC1/SOC2) reviews of third-party service providers for AuditOne LLP. Mr. Kluba has more than 24 years of technology management and compliance experience working in software, hosting, managed services, and financial services organizations. He is a Certified Information Systems Security Professional (CISSP), a Certified Information Security Manager (CISM), and an AWS Certified Cloud Practitioner. Mr. Kluba also holds the AICPA Advanced SOC for Service Organizations Certification. Mr. Kluba has completed the Leadership Imperative Program and Project Management Program at Santa Clara University, and holds a Bachelor of Science degree in Accounting from San Jose State.

This roundtable is sponsored by our friends and CyberPartners BTI Growth Advisors.

The Financial Services Cybersecurity Roundtable is a cross-organizational, cross-functional peer-to-peer “learning community” working together to better protect our community from bank fraud, credit card theft, identity theft, and other forms of cyber crime.

Invite Someone Else: If there is someone else [either in your organization or in another] who you think is a good fit for our Roundtable, please forward them this invitation.

We look forward to seeing you at the meeting!

Thanks to our generous sponsor!

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Online Event

Organization: SecureTheVillage

Type: Roundtable

Date: August 20th

Time: 8:30 AM PDT

Focus Area: Financial Cybersecurity

Intended for: Financial Service Professionals

CPE: None

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