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Have you ever wondered if the bank fees on your statements are correct? Or whether the interest you received, or paid if the rate is below zero, is calculated correctly? PwC’s Digital Assurance specialists do, too. They test the “magic” – or automated transactions in various systems at your bank – that appear on your account statements to ensure that they are calculated correctly.
PwC’s Digital Assurance specialists perform analysis and reach conclusions. They work hand in hand with key people across the bank: the fees and commissions team who sees to it that the fee schedule is correctly configured into the system; head of access management who ensures that only the right people can change the parameters of the system such as the fees taken from your bank account; head of development who verifies that changes in systems correspond to the bank’s objectives and don’t break what’s working well; head of infrastructure who understands how data is managed and ensures that backups are done on a regular basis. As an additional step to ensure the IT environment is secure and resilient, the Digital Assurance Team also works with the head of security who knows the measures in place to address IT and cyber threats, and with the head of business continuity who makes sure the bank has a plan to withstand and recover from disasters such as a cyberattack, a fire in the data centre, or a pandemic.
Auditing, in essence, is about verifying the financial statements of organisations. Part of this is making sure that customer fees are correctly reflected in the bank’s revenues. And in turn, that revenues, are correct in the financial statements. In other words: ensuring trustworthy banking and building trust in society.
Digital transformation is here. It is urgent and critical, and very exciting. Companies who delay embracing new technologies will be left behind.
It all comes down to trust. Helping clients understand the advantages – not just the risks – new technologies offer. Giving them the knowledge and confidence to trust brilliant minds to drive their tech transformation.
At PwC's Digital Assurance, our work ranges from large scale business and IT transformations to digitalisation of business records management to tech enabled audits. We guide digital transformation from analysis to strategy, from preparation to implementation. With one clear objective in mind: sustainable value for a digital future.
Are you high digital IQ? We’re always looking for bright, tech-driven talent to join our Digital Assurance team. Apply now!