The Federal Financial Institutions Examination Council (FFIEC) has released a new booklet aimed at aiding examiners in assessing information technology practices within financial institutions. The “Development, Acquisition, and Maintenance” booklet outlines fundamental examination expectations related to development and acquisition planning and execution, governance and risk management, as well as maintenance and change management practices.
The booklet addresses the interconnectedness of an entity’s assets and processes with those of its third-party service providers. It aims to assist examiners in evaluating whether management adequately addresses risks and complies with relevant laws and regulations.
Reflecting the evolving technological landscape, the booklet emphasizes the need for security and resilience. It also underscores the importance of providing examiners with up-to-date information regarding safety, soundness, consumer protection, and secure business services. This new publication replaces the “Development and Acquisition” booklet issued in April 2004.
The full FFIEC Information Technology Examination Handbook is available online at https://ithandbook.ffiec.gov/.
Media Contacts:
– CFPB: Michael Robinson, 202-435-9327
– FDIC: LaJuan Williams-Young, 202-898-3876
– FRB: Meg Nelson, 202-452-2955
– NCUA: Joseph Adamoli, 703-518-6330
– OCC: Anne Edgecomb, 202-649-6870
– SLC: Laura Fisher, 202-360-4918
The National Credit Union Administration (NCUA) is an independent federal agency established by Congress to regulate, charter, and supervise federal credit unions. Supported by the full faith and credit of the United States government, NCUA manages the National Credit Union Share Insurance Fund which insures deposits of over 135 million account holders across all federal credit unions and most state-chartered credit unions. The NCUA also focuses on consumer protection and financial literacy education.
For media inquiries:
Joe Adamoli,
JAdamoli@ncua.gov,
703.518.6572
