Program Analysis
Examining Your Prepaid Program
All too often, companies wait until they experience a harmful event – such as fraud, higher than average negative balances, or
an unexpected bank audit that they aren't prepared to handle – before they perform a comprehensive analysis of their prepaid program.
In these cases, the companies are under intense pressure to have an independent analysis performed, which is an unpleasant and expensive
situation that can often be avoided by having a prepaid program analysis
performed on a proactive basis.
Periodic Program Analysis Benefits
- Reduce ongoing program costs
- Reduce program risk
- Optimize a portfolio’s profitability
Reviewing Your Current System
- Scrutinize your prepaid program’s financials
- Build a detailed financial model to see exactly where the money flows
- Review your system to see if you have the right data for proper portfolio analysis
- Compliance Planning
- Prepare a compliance plan for FDIC, OTC, FRB, OCC, AML/MSB as it relates to the client’s program
- Perform an internal audit
- Perform required training
Evaluating Existing Internal Policies And Procedures
- Interview all managers to understand what they do and how they do it
- Observe how support desk personnel work and examine all relevant documentation they use
- Speak to sales representatives to understand exactly what they are selling
- Time support desk calls and examine the effectiveness of your IVR script
Post Analysis
- Prepare a report that describes your program’s shortcomings and make specific recommendations for how to fix them
- Prioritize these issues and provide a clear understanding of how quickly you can expect each issue to be resolved
- Prepare a letter describing our independent program audit results including expected timeframes for issue resolutions
- Provide implementation guidelines that assist your staff as they work to remedy your program’s problems
How E&S Consulting Can Help
- Provide an independent, flexible and customized approach to every prepaid program analysis
- Quickly examine every aspect of your program, identify its weaknesses and recommend appropriate remedies
