ECCB
ANNUAL REPORT 2014/2015
28
EASTERN CARIBBEAN CENTRAL BANK
THE BANK’S INTERNAL
MANAGEMENT
R
isk
M
anagement
The Internal Audit Department (IAD) provided
significant support geared towards the successful
implementation of Stage II of the Systems Applications
and Products for Data Processing-Enterprise Resource
Planning System (SAP-ERP) project given its critical
nature. This phase resulted in the implementation
of the banking Modules: In-house Cash, Treasury
Risk Management and Bank Communication. On
going audits of the SAP–ERP environment were also
conducted. The audits focused on specific areas in the
Human Resource Management module.
The IAD also provided oversight and consultancy
support to other departments that implemented
new systems; mainly the Security Solution and the
Statistical Enterprise Solution, to ensure that they
have robust controls and sound audit trail architecture.
The risk questionnaire issued to the Heads of
Departments (HODs) during the year assessed their
awareness of risks in the operating environment and
ability to be change agents.
Information Technology and Security
SAP Core Banking Solution Implementation
The ECCB staff are now experiencing the Bank’s
“One Touch” vision which became a reality on 20
October 2014 with the implementation of the final
stage of the SAP Enterprise Resource Planning (ERP)
Solution.
That milestone has made evident the transformation
of the technological platform of the Bank into an
automated operational environment. As part of the
process, the ECCB’s banking functionalities were
migrated to SAP with the use of the In-House Cash
(IHC), Treasury and Risk Management (TRM), Bank
Communication Management (BCM) and Payment
Transaction System (PTS) modules affording users a
more efficient and fully automated experience.
The ECCB is committed to continuing the innovation
wave as it realises the information technology vision of
“a fully automated operational environment supported
by a virtualised platform ensuring 24/7 availability of
information systems”.
SAS Statistical Enterprise Solution Implementation
As noted earlier, the ECCB implemented the first
phase of the Statistical Enterprise Solution (SES) on
15 December 2014 which focused on Monetary and
Financial Statistics.
