Title Alliance, Ltd., has received a SOC 2 attestation. It and its affiliated company/companies have received a SOC 1, the company announced.
The project was spearheaded by Jadah Hill, regional director; Kelley Kernicky, IT manager; and Kim Olshefski, escrow/risk manager all for Title Alliance. In conjunction with the Independent National Risk Rating Credential received by the company in July, the most recent security reports show that Title Alliance continues to make customer security and privacy a priority, according to the announcement.
Raja Paranjothi, certified information systems auditor of Oread Partners LLC, a Kansas City-based firm specializing in a risk consulting and attestation practice, performed the audits and issued the reports. The process took approximately six months to be completed.
The SOC 2 focuses on business’ system security, confidentiality, availability, privacy and/or processing integrity across your various systems.
“A SOC 2 report provides assurance to lenders that Title Alliance has proper security controls and procedures in place as it relates to the network, applications and non-public personal information they are managing,” Paranjothi said.
The SOC 1 focuses on the company’s internal controls impacting customers’ internal controls over financial reporting. Final SOC 1 reports provide information on controls at a service organization.
“A SOC 1 report is a significant investment in time and resources for any company,” Paranjothi continued. ”By completing a SOC 1 report, Title Alliance and its affiliates have provided comfort and confidence to their lenders that they have proper controls in place as it relates to their employment practices, operations and Information Technology for title insurance services they provide.
“There are a limited number of companies that have both a SOC 1 and SOC 2 report,” he added. “By having both reports, Title Alliance has proved they are committed to doing the right thing for their lenders and consumers.”
“It remains imperative that we focus on our customer and take every precaution to safeguard their information,” Hill said. “Oread Partners came to us as a referral from Marx Sterbcow of Sterbcow Law Group, one of our highly respected RESPA attorneys. Working with Raja has been a pleasure. He will be a valuable part of our organization staying ahead of the curve in our industry.”