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Financial Regulators Release Revised Management Booklet

Nov. 10, 2015

The Federal Financial Institutions Examination Council (FFIEC) members today issued a revised Management booklet, which is part of the FFIEC Information Technology Examination Handbook (IT Handbook).

The Management booklet, including the examination procedures, has been substantially revised. The booklet outlines the principles of sound governance and, more specifically, information technology (IT) governance. The booklet explains how IT risk management relates to enterprise-wide risk management and governance.

The updated examination procedures assist examiners in evaluating the following areas:

  • IT governance as part of overall governance in financial institutions.
  • IT risk management as part of  enterprise-wide risk management in financial institutions.

Other relevant changes include:

  • Incorporation of cybersecurity concepts as part of information security.
  • Incorporation of management-related concepts from other booklets of the IT Handbook.
  • Augmentation and further delineation of the stages of the IT risk management process, including risk identification, measurement, mitigation, monitoring, and reporting.

The IT Handbook is available at http://ithandbook.ffiec.gov/it-booklets/management.aspx.


​Media Contacts

Agency

​Name

​Phone number

​CFPB​Sam Gilford​(202) 435-7673
​FDIC​LaJuan Williams-Young​(202) 898-3876
​Federal Reserve​Eric Kollig​(202) 452-2955
​NCUA​Ben Hardaway​(703) 518-6333
​OCC​Stephanie Collins​(202) 649-6870
​SLC​Catherine Woody​(202) 728-5733

The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions. It also conducts schools for examiners employed by the five federal member agencies represented on the FFIEC and makes those schools available to employees of state agencies that supervise financial institutions. The Council consists of the following six voting members: a member of the Board of Governors of the Federal Reserve System; the Chairman of the Federal Deposit Insurance Corporation; the Director of the Consumer Financial Protection Bureau; the Comptroller of the Currency; the Chairman of the National Credit Union Administration; and the Chairman of the State Liaison Committee.


NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 105 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
Mobile: 571.438.0801
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"

11/10/2015 9:27 AM