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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.
Back to TOCControl Objective 4
- Controls provide reasonable assurance that loans are properly authorized and processed
accurately, completely, and in accordance with instructions received from plan sponsors or participants and in
compliance with the plan document.
VALIC Control Activities
Tests of Operating Effectiveness
Results of Tests
4.4 Incoming participant callers to the
Contact Center are verified before
providing any participant or account
specific information to the caller or
performing any transactions for
the caller.
Inspected a sample of incoming
participant calls to confirm that
prior to the release of confidential
participant or account information,
the VALIC team member verifies the
following: participant's name, Social
Security number or VALIC account
number, and date of birth.
No exceptions noted.
4.5 Participants are authenticated
within the
VALIC.comapplication
using a unique User ID and
passwords that are in accordance
with AIG Policy.
Observed a Business Analyst log in
to
VALIC.comparticipant account to
determine whether a unique User ID
and a password are required.
Observed password parameter
requirements when resetting a
password to determine whether they
are in accordance with AIG Policy.
No exceptions noted.
No exceptions noted.
4.6 An index file of the scanned
documents is routed to AWD
for processing. The job that
routes the image file to AWD is
monitored for processing.
Observed evidence of the Windows
service used to transfer the index file
of the scanned documents to AWD.
Observed the configuration to
monitor for errors to determine
whether notifications are sent to the
appropriate individuals in the event of
a process failure.
No exceptions noted.
No exceptions noted.
4.7 Complaints are monitored by
management and the Consumer
Affairs Department.
Inspected a sample of monthly
complaint reports to determine
whether customer complaints are
monitored by VALIC Management and
the Compliance Department.
No exceptions noted.
Click
VALIC
.com 59
IV. VALIC control objectives and controls, and PricewaterhouseCoopers LLP's tests of operating
effectiveness and results of tests