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Treasury connectivity controls checklist (approvals, SoD, audit logs)

Use this checklist to align treasury, IT, and compliance when connecting ERP/TMS to the bank (API or files). It’s designed for US operational and audit expectations.

Updated: 2026-01-27 Read time: ~6–7 minutes Focus: governance & risk

Baseline controls (minimum viable governance)

SoD: maker-checker separation; admins cannot approve payments.
MFA: required for any privileged action.
RBAC: roles mapped to job functions (Treasury Ops, Approver, Admin).
Limits: thresholds by entity/account/payment type.
Audit logging: immutable activity logs with timestamps and user identifiers.

Payment workflow controls

Dual approvals for high-risk payments (amount/currency/counterparty).
Beneficiary validation (new/changed beneficiary flags, cooling-off policies where applicable).
Cut-off handling and exception runbooks.
Positive confirmation: status updates and end-of-day reconciliation.

Tip: document exception paths (rejected/returned payments) and assign ownership for remediation.

API / key management (if applicable)

Central secret storage (no keys in code repos).
Regular key/certificate rotation with documented procedure.
Least-privilege scopes and endpoint allowlists.
Alerting on authentication failures and unusual request patterns.

Monitoring and reporting

Dashboards for file/API success rates, latency, and exceptions.
Daily reconciliation report (bank vs ERP/TMS).
Weekly control attestation (roles/limits review).

// Example “daily” questions
- Did we receive all expected statements?
- Any payment rejections or returns?
- Any approvals outside policy?
- Any new beneficiaries added?

Rollout checklist (pilot → scale)

Pick 1 entity and a small account set.
Lock down roles/approvals/limits.
Run parallel for 1–2 cycles (manual + automated comparison).
Go live with monitoring and on-call ownership.
Scale to additional entities.

This checklist is informational and not legal or compliance advice. Adapt it to your organization’s policies and risk appetite.