Natixis obtains ISAE 3402 type I certification for its internal control
Natixis’ EuroTitres department asked the audit firm Deloitte to certify at December 31, 2011 the internal control for its securities account keeping and custody businesses. Natixis can now provide its clients with the ISAE 3402 type I certification regarding custody services to retail or private banking in France.
The first phase of the certification describes and formalizes the permanent control processes, their objectives and the procedures used when processing operations. “It is based on the strong commitment of the managers who vouch for the detailed control scheme in the report, and also on the day-in and day-out commitment of the managers and the teams who apply these controls”, explained Didier Peton, Head of General Affairs, in charge of the Compliance and Risks functions.
Obtaining this certification was part of our policy concerning quality and risk control. It is an additional guarantee of security for clients who demand more transparency regarding control of service providers.
Natixis’ EuroTitres department has launched the phase where an independent auditor will validate its controls to obtain type II certification in early 2013. The control scheme will be subject to an annual audit.
The ISAE 3402 standard regarding the internal control of service providers was published by the IAASB (International Auditing and Assurance Standards Board) in December 2009.
Natixis’ EuroTitres department is no. 1 in France for custody services to retail and private banking, with 4.4 million securities accounts, 11.6 million operations processed and €223 billion of assets in custody* at the end of 2011.
Natixis’ EuroTitres department provides customized services to retail and private banking, from office services to all financial instrument custody services. The department also has a platform that is well known for its reliability, compliance and open architecture. * Source: Natixis
Contact
Vanessa Stephan
Global Head of External Communication at Natixis CIB, Groupe BPCE
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