Pub. 7 2012-2013 Issue 5

January | February 2013 17 Extraordinary Service for Extraordinary Members. Your third-party vendor also must hold credentials. And the vendor’s controls should be validated by an in- dependent party. The standard for this type of review is an SSAE 16. An SSAE 16 (formally SAS 70) engagement is an internationally recognized third-party assurance examination designed for service organizations to report on controls relevant to user entities’ internal control over financial reporting. This exam ensures that your provider has controls in place to address physical security, unauthorized access, and service disruptions. Make sure your provider has been audited and has a complete SSAE 16 under its belt. Moving banking resources to the cloud can improve your bottom line. Rising IT costs can be frozen and scaled back. However, you must choose the right partner to maximize the benefits and keep your bank secure. Having a relation- ship with your cloud provider is the most important factor for long-term IT management success. Z Nathan Dahlstrom is currently the Aspire sales representative for CoNetrix, a provider of network consulting, Aspire cloud hosting, security testing, risk management, and tandem information security compliance software to financial institutions. For more information, visit www.conetrix.com .