Assignment 2: Non-Compliance With Regulation
For some of the risks I removed the “resulting in non-compliance with regulation”. For the risks related to misappropriation of funds I did not add anything. For a few other I added causing disputes. I made sure that the risks that I’m aware of that would actually violate regulations were indicated. There is a lot of things that the BMV does that are not technically regulations. A lot of the regulations related to us are not quite as spelled out as say Financial Aid and leaves room for interpretation. Therefore, when we indicate non-compliance with regulation we need to make sure it’s true.
Please reword the risk to “Court orders requested are not delivered to the correct processor…” If we don’t the risk is really of the control failing …show more content…
Add that NMVTIS verifies vehicle information enter to a database if vehicle information mismatches it will alert the process and require resolution to complete the transaction. Help desk must remove NMVITS hits prior to further processing.
Please remove as this would be a risk related to the help desk when we audit them.
Do they review any report that indicate when transactions are not completed (pending)? This could be a control.
Please expand. Include that prior enter dealers can be selected from a drop down menu. Regarding the verify dealer information how does STARS verify this information and does it not allow the transaction to continue if there is a mismatch? Included the answers to those questions in the control.
Please expand on the control. Add that the processor has the override capability; however, if a number greater than zero was meant to be entered the required override would alert that there is an issue.
Is the payment information scanned? If not then control 2 needs to be removed.
Indicate once the payment information form is enter the document is placed in a waste bin at the processor desk and is placed in a secured shred bin at the end of the day.
Is the payment information scanned? If not then control 2 needs to be
Please reword the risk to “Court orders requested are not delivered to the correct processor…” If we don’t the risk is really of the control failing …show more content…
Add that NMVTIS verifies vehicle information enter to a database if vehicle information mismatches it will alert the process and require resolution to complete the transaction. Help desk must remove NMVITS hits prior to further processing.
Please remove as this would be a risk related to the help desk when we audit them.
Do they review any report that indicate when transactions are not completed (pending)? This could be a control.
Please expand. Include that prior enter dealers can be selected from a drop down menu. Regarding the verify dealer information how does STARS verify this information and does it not allow the transaction to continue if there is a mismatch? Included the answers to those questions in the control.
Please expand on the control. Add that the processor has the override capability; however, if a number greater than zero was meant to be entered the required override would alert that there is an issue.
Is the payment information scanned? If not then control 2 needs to be removed.
Indicate once the payment information form is enter the document is placed in a waste bin at the processor desk and is placed in a secured shred bin at the end of the day.
Is the payment information scanned? If not then control 2 needs to be