FFIEC Compliance & Consulting for Financial Institutions

FLANK specializes in providing FFIEC compliance, consulting, audit, and information security policy and procedure writing services for banking and financial services institutions across North America.  As for the FFIEC, which is officially the Federal Financial Institutions Examination Council (FFIEC), it was established in 1979 pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA).  

Additionally, the FFIEC is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB), and to make recommendations to promote uniformity in the supervision of financial institutions.

Moreover, the FFIEC is responsible for developing uniform reporting systems for federally supervised financial institutions, their holding companies, and all affiliated subsidiaries, where applicable.

FFIEC InfoBase - A Great Set of Resources

What's important to note is that within the framework of the FFIEC is what's known as "InfoBase" (http://ithandbook.ffiec.gov/); a comprehensive set of resources that provide a wealth of information and material, such as the following:

  • I.T. Booklets
  • Resources
  • Referenced Materials
  • Presentations
  • Glossary

Many of these resources provided by the FFIEC, especially the I.T. Booklets, are used by private sector entities for ensuring compliance with the required regulations imposed upon them. Organizations often need assistance in developing security policies, procedures, and processes in accordance with FFIEC guidelines, and we can assist in all your needs. We have years of experience working with the published FFIEC I.T. Booklets and can develop a comprehensive program tailored directly to your needs for ensuring continued compliance.

FFIEC I.T. Booklets & Resource Material

Additionally, the InfoBase "Resources" section provides ample amounts of resource data (i.e. laws, regulations, etc.) that are mapped and categorized for nine (9) of the eleven (11) I.T. Booklets. Additionally, the "Presentations" section provides instructor led videos for each of the eleven (11) I.T. Booklets. Though a large number of the I.T. Booklets were originally published years ago, they are still considered relevant, with updates provided via Appendix sections.

For a point of reference, the I.T. Booklets, which can be found at http://ithandbook.ffiec.gov/it-booklets.aspx, consist of the following:

  • Audit
  • Business Continuity Planning
  • Development and Acquisition
  • E-Banking
  • Information Security
  • Management
  • Operations
  • Outsourcing Technology Services
  • Retail Payment Systems
  • Supervision of Technology Service Providers
  • Wholesale Payment Systems.

FLANK also offers the following federal compliance services and solutions:

Many of the stated provisions within the FFIEC I.T. Booklets and other guidelines published by this interagency body require documented information security policies and procedures, for which you can obtain from FLANK and our FLANK21.  Also, contact us today for a consultation regarding your FFIEC needs and how we can help develop and implement policies and procedures in accordance with the published InfoBase material.

References:

  • https://www.ffiec.gov/
  • https://en.wikipedia.org/wiki/Federal_Financial_Institutions_Examination_Council
  • https://www.occ.treas.gov/