The compliance burden on critical IT staff can be crippling. Tracking the moving target of regulatory requirements is a full-time job for some, and seems to be a game of catch up rather than the proactive approach preferred by auditors and examiners.
There is a process that can facilitate early identification of emerging or changing risks in order to more effectively manage compliance requirements; the control self-assessment process. Properly implemented, the CSA process is an extremely effective risk management tool.
Implementing a CSA process is highly recommended by the FFIEC, earning plenty of regulatory support with 43 mentions in seven of the 12 FFIEC IT Examination Handbooks. But the Information Security Handbook makes the most compelling argument for utilizing CSA in your risk management program:
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
