Financial Regulators Release Revised Management Booklet

November 2015
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

CFPBSam Gilford(202) 435-7673
FDICLaJuan Williams-Young(202) 898-3876
Federal ReserveEric Kollig(202) 452-2955
NCUABen Hardaway(703) 518-6333
OCCStephanie Collins(202) 649-6870
SLCCatherine 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.

Last modified on
11/30/18