ACH Audit (Annual)
ICBB is a third-party service provider supporting both Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial Institutions (RDFis). As indicated in the NACHA Operating Rules, third-party service providers that perform the function of ACH processing on behalf of ODFis or RDFis are required to complete an annual ACH Compliance Audit.
BSA/AML/CIP
As a State Chartered Financial Institution, regulated by The Federal Reserve Bank, ICBB maintains compliance with all requirements of the Bank Secrecy Act, The USA Patriot Act, and other applicable federal regulations. The adequacy and effectiveness of our BSA/AML compliance program is regularly evaluated by internal auditors and outside regulators.
The bank has a designated BSA Officer, and BSA-related items are reported as required to the Board of Directors and bank-level training is conducted annually. ICBB completes Customer identification Program (CIP) to confirm the identity of all customers prior to account opening. CIP is incorporated into the bank’s BSA/AML compliance program and the program is reviewed and approved by the Board of Directors on at least an annual basis.
Information Security
ICBB maintains a comprehensive information security policy that is tested on an annual basis and revised as required. The policy includes provisions for contingencies that can be reasonably anticipated including natural disasters, and cyber security threats. The policy is reviewed and approved by the bank’s Board of Directors on an annual basis.
BBCONNECT Customer Communications System
BBCONNECT Security/Compliance Overview BBCONNECT Security/Compliance Overview Document
BBCONNECT OFAC Screening Overview Document BBCONNECT OFAC Screening Overview
