WASHINGTON – The Federal Financial Institutions Examination Council, of which NCUA is a part, has published updated guidance on the development, acquisition, and maintenance of information systems for financial institutions. The Development and Acquisition booklet offers guidance on project risks and management techniques. It targets financial institution examiners, financial institutions, and technology providers. The booklet also stresses the use of standardized policies, detailed plans, and well-structured project management techniques when directing activities and controlling risks. “Effective development and acquisition should result in sound information systems which provide specific functionality, consistent reliability, and strong security,” an FFIEC notice read. The revised booklet is the latest effort to modernize the 1996 FFIEC Information Systems Examination Handbook. They are available at www.ffiec.gov/guides.htm. The FFIEC was established in 1979 to create examination uniformity among NCUA, the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. Five representatives from state supervisory agencies serve on an advisory committee for the FFIEC.

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:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.