|For immediate release||November 10, 2015|
Financial Regulators Release Revised Management Booklet
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:
Other relevant changes include:
The IT Handbook is available at http://ithandbook.ffiec.gov/it-booklets/management.aspx.
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.