ECCB 2014-2015 Annual Report and Statement of Accounts

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.

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ECCB ANNUAL REPORT 2014/2015

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