Financial Institutions Area of Focus
The financial institution environment is driven by electronic transactions, making adherence to the Federal Financial Institutions Examination Council’s (FFIEC’s) guidelines for cybersecurity and IT controls a critical aspect of a financial institution’s business. Adapting the guidelines to your institution’s unique product and service offerings requires an understanding of the guidelines, a depth of IT technical knowledge, and financial industry experience. Our team of IT audit & assurance professionals stays abreast of the changing landscape. Additionally, the team possesses not only the technical skills to test IT controls, but also the necessary financial experience to present the results in “plain English” to board and audit committee members. From encryption to penetration testing (and everything in between), our services are designed to thoroughly test and evaluate your controls – and, in turn, help you sleep better at night.
Completing an IT risk assessment can seem complicated and confusing for a financial institution. CRI’s IT audits & assurance team uses a unique data flow to make the complicated and confusing easy to understand. For your individual financial institution, we tailor the risk assessment to meet the FFIEC compliance requirements (including those related to cybersecurity risk) and convert the risk assessment into a dynamic tool that drives the organization’s IT environment, activities, board monitoring requirements, and – ultimately – the IT audit.