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This report is intended for use by the management of the Variable Annuity Life Insurance Company ("VALIC") and its subsidiaries.
VALIC Retirement Services Company ("VRSCO") and VALIC Financial Advisors, Inc. ("VFA"), its user entities, and the independent
auditors of its user entities, and is not intended and should not be used by anyone other than these specified parties.
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VALIC
.com 14
Business Units
Responsibilities
Information Technology
Serves as a liaison between business units and technology service providers and performs
business application development, quality assurance (QA) testing, implementation,
security andmaintenance activities for all internally based technology platforms.
Financial Reporting
Responsible for the preparation of financial statements and disclosures, monitoring
and verification of compliance with federal securities laws, analysis of the financial
activity and remitting taxes withheld to appropriate authorities required for the
separate accounts.
Variable Product Accounting and
Reporting (VPA)
Responsible for the collection, reconciliation and communication of processed trade
activity to the appropriate fund companies. This accounting group initiates and
verifies the settlement of those trades and also the reconciliation of outstanding
shares between the fund companies and the record keeping system.
Chief Technology Office (CTO)
Provides operating system and server support for mainframe and distributed systems
for AIG Life and Retirement companies which includes VALIC. CTO supports facilities
management; security access administration, batch processing and daily operations
tasks and support. CTO is also responsible for business continuity which includes
back-up and restore of all mainframe and distributed applications for VALIC .
Third-Party Services used by VALIC
VALIC uses third-party service vendors to achieve operating efficiency and obtain specific market expertise.
That includes technology services, lockbox, wire transfer, EFT, printing and mailing. (This report and related
control environment descriptions do not address the controls and related control objectives of these Third-
Party Service vendors.)
The VALIC principal third-party service vendors are described below:
Lockbox
Vendors include JPMorgan Chase Bank via hardcopy checks, e-Remit, Automated
Clearing House (ACH) Debit, Northern Trust Company (NTC) and Bank of America
(BoA).
Wire Transfer and Electronic
Fund Transfer (EFT)
The Bank of New York Mellon (BoNY).
Confirmations and Account
Statement Printing and Mailing
Vendors include Fiserv for participant account statements and HOV Services for
financial and non-financial confirmations.
Application Support/
Development and DBA Services
Mphasis provides application database admin support for all of the VALIC mainframe
applications which are using IMS/DB2 database. Mphasis provides application
support/development database services, database recovery management, disaster
recovery management and database reports.
SunGard
– Relius Government Forms
Web based portal utilized to generate required governmental reporting of Form
5500 and related schedules including Form 8955-SSA for ERISA plans.
SunGard Corbel Plan Documents
Web based portal utilized to generate written documents for various plan types that
set forth the terms of the plan.
Actuarial Systems Corporation
(ASC)
Software utilized to perform required non-discrimination testing for ERISA plans.
III. Description of the VALIC Defined Contribution Plan Administration System