Regulatory Reality:

CU

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October 22, 2012  2:09 PM

Are banks unfairly scrutinized?



Posted by: David Schneier
ACH, assess, assessment, assessments, Audit, auditor, audits, banking, banks, business, CISA, CISO, community bank, compliance, credit unions, CU, exam, examination, examinations, examiner, examiners, exams, FFIEC, financial institutions, general controls, GLBA, identify theft, identity theft, information security, information security office, Information Technology General Controls, internal audit, internal controls, ITGC, NPPI, observations, oversight, personally identifiable informaiton, PII, privacy, risk assess, risk assessment, risk assessments, risk management, risk-based, risks

A few years back when I first cut over to working somewhat exclusively with financial institutions I memorized an elevator speech that still somewhat defines who I am and what I do professionally.  Part of the speech pointed out that my firm helped "banks and credit unions meet regulatory...

September 21, 2012  3:44 PM

Are self-assessments the right way to go?



Posted by: David Schneier
assess, assessment, assessments, Audit, bank, banking, CISO, CISSP, compliance, compliance officer, compliant, credit union, credit unions, CU, disaster, disaster recovery, DR, enterprise risk, enterprise risk management, ERM, exam, examination, examinations, examiner, examiners, exams, framework, governance, GRC, guidance, information security, information security office, infrastructure, ISO, oversight, policy, procedure, regulation, regulations, regulations audit, regulatory, regulatory guidance, risk assess, risk assessment, risk assessments, risk management, risk-based, risks, technology

About a decade ago a family member chastised me for having an auto repair shop do my oil changes for me.  She (yeah, you’re reading that right – “she”) pointed out how ridiculously easy it was to drain the old oil, replace it with the new stuff and check a wide variety of fluid levels,...


July 6, 2012  3:18 AM

Risk: The core issue behind regulatory requirements



Posted by: David Schneier
assess, assessment, assessments, Audit, audits, bank, banking, banks, compliance, compliant, control, credit union, credit unions, CU, enterprise risk, enterprise risk management, ERM, exam, examination, examinations, examiner, exams, FDIC, Federal Reserve Bank, FFIEC, financial institutions, framework, FRB, general controls, GLBA, governance, GRC, guidance, information security, information security office, infrastructure, NCUA, PII, policy, procedure, regulation, regulations, regulations audit, risk assessment, risk assessments, Risk IT, risk management, risk rating, risk-based, risks, threats, vendor, Vendor Management, vendor risk, vendor risk assessment

There's a joke of sorts within my personal circle of family and friends regarding what it is that I do these days.  Ask me and I'll tell you that I'm a regulatory compliance expert who advises financial institutions on how to comply with the myriad rules and regulations governing information...


June 15, 2011  4:52 PM

The trouble with ineffective controls



Posted by: David Schneier
assess, assessment, Audit, bank, banking, community bank, compliance, credit union, CU, data center, GLBA, NCUA, regulation, regulatory, Regulatory Compliance, Security

I've been visiting with my mother who lives in a gated retirement community. In order for me to gain access to the development I need to pass through a security check point at the main gate. They ask me who I'm visiting, I provide my mother's name and either they find my name on the pre-approved...


March 15, 2011  9:58 PM

Is your examiner a friend or foe?



Posted by: David Schneier
Audit, bank, banking, compliance, credit union, CU, exam, examiner, FDIC, GLBA, NCUA, OCC, oversight, regulations, regulatory, Regulatory Compliance

I was catching up on my industry emails the other day and buried in my FDIC email folder was Financial Institution Letter FIL-13-2011, sent out on March 1st. Truthfully I usually pay close attention to their Friday afternoon blasts regarding bank closings and only skim the rest. But this one...


March 8, 2011  4:58 PM

Does GRC scale to size?



Posted by: David Schneier
assessment, Audit, bank, banking, compliance, credit union, CU, exam, examination, examiner, exams, governance, GRC, regulation, regulatory, Regulatory Compliance, risk, risk assessment

We were having an internal conversation this past week about governance, risk, and compliance (GRC) and I was asked about its role in the small and...

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October 1, 2010  7:41 PM

Hidden information security threats are still threats



Posted by: David Schneier
Audit, bank, banking, compliance, credit union, CU, FDIC, FFIEC, financial, financial institutions, personally identifiable informaiton, regulations, regulatory, Regulatory Compliance, security PII

Growing up I was a huge fan of the sitcom "The Odd Couple."  Some of my favorite catch phrases have in some part been influenced by lines of dialogue that I memorized.  One in particular serves as the best pure definition for a phenomenon I encounter frequently enough in my audit/compliance...


September 30, 2009  7:34 PM

Accountability key to banking recovery



Posted by: David Schneier
Audit, bank, banking, compliance, credit union, CU, DIF, FDIC, GLBA, NCUA, Regulatory Compliance

Every day, I receive a semi-deluge of industry related emails.  Between the various agencies, media sites, organizations and associations I tend to receive more communiqués than I know what to do with.  But I developed an interesting habit last year when the banking...


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