Information is one of the most important assets in modern financial institutions. In order to protect the confidentiality, integrity and availability of information, a strict commitment to information security is necessary. The FFIEC requires an ongoing information security risk assessment program that gathers data regarding threats to IT assets, analyzes existing security controls as well as the impact and probability of threats and vulnerabilities, and prioritizes risks presented by these threats.
Information security is an ongoing process. One method of testing the current security posture of a financial institution is through a risk assessment. A proper and thorough risk assessment by Canaudit will fulfill the FFIEC requirement and help establish or reinforce an existing mitigation strategy to reduce risk to the institution.
At Canaudit, our approach focuses on helping organizations improve their security posture through achieving and maintaining compliance. Canaudit’s financial institution practice provides IT audit and security services to institutions of all sizes, both domestic and international. Our clients range from small credit unions with assets of just over $10 million to international banks with assets in excess of $100 billion.
Within our financial institution practice, we work to identify risks, meet regulatory compliance mandates, uncover network vulnerabilities, secure sensitive data, train and develop technical skills, and provide guidance on IT policies and procedures.
Canaudit provides a value proposition, and our mission has always been to transfer knowledge, skills and resources to our clients, thereby enhancing controls and optimizing network security worldwide.