IT General Controls Review
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Overview
With decades of Banking and Credit Union experience, InfoSight advisors understand your Financial Institutions' control environment. We understand your institutions' FFIEC compliance requirements in addition to overall control environment best practices.
The Challenge
Controls for smaller institutions have no shortage of challenges including limited resources, personnel, and technological capabilities. Whether it's a smaller workforce, which can make it challenging to designate individuals solely responsible for risk management or a complex regulatory environment, there never seems to be enough time or budget to get everything accomplished to the satisfaction of regulating bodies. Additionally, third-party risk seems to be on the rise due to supply chain compromises and cyberthreat trends.
How We Solve it
Our advisors review your institutions' organizational structure and operating environment to conduct an IT Controls Review based upon FFIEC guidelines and your appetite for risk. We prioritize the control environment and assist in leveraging cost-effective technology solutions for risk assessment, data analytics, and cybersecurity to enhance controls capabilities.
The Outcome
The outcome is a proactive and strategic approach to IT Controls that helps your institution build resilience and effectively manage risks within your limitations.
At InfoSight, Our experts:
Review risk reviews for control requirements
Review management's response to issues raised at, or since the last exam
Review past reports for outstanding issues or previous problems.
Interview management pre-examination information requests to identify changes to the technology infrastructure or new products and services that might increase the institution's risk.
