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 On a daily basis, US financial institutions battle to stay in compliance with the ever changing regulations set forth by the state and federal government. Under heavy pressure, financial institutions must regularly demonstrate that private and confidential customer information is secure from malicious threats and that customers are capable of accessing their information around the clock.
Targeting the GLBA and FFIEC examination guidelines, Covetrix security experts can assist financial institutions in the assessment of security risks due to technology vulnerabilities and provide security recommendations that will ensure the institutions compliance with federal regulations. Known as Bank Secure, our security assessment will aid financial institutions in addressing the following areas of the FFIEC examination as they apply to your institution prior to a regulatory audit:
- Tier I - Assessment of a Financial Institution's Processes for Identifying and Managing Risks
- Overall Technology Interview
- Security Policy and Procedure Analysis
- Risk Assessment
- Tier II - Additional Security Risk Assessment
- Authentication and Access Controls
- Access Rights Administration
- Authentication
- Network Security
- Host Security
- User Equipment Security (Workstations, Laptops)
- Physical Security
- Business Continuity Security
- Intrusion Detection and Response
- Encryption
- Data Security
At Covetrix, we fully understand the severity of an unfavorable audit and the impact it can have on your shareholders and capital resources. We also recognize that the success of your business depends on the protection of your customers' private and personal data (GLBA). Moreover, we understand that many financial institutions find it difficult to decipher and comply with federal regulations.
By helping your institution focus on the FFIEC examination criteria, our security experts can help you design a security program to identify and fix potential security vulnerabilities before they are uncovered by your institution's regulatory authority. Our proven methodology will help your financial institution:
- Minimize network risk, down time, and costly IT spending
- Protect confidential customer information
- Address FFIEC and GLBA specific required examination procedures
- Supplement existing IT staffing
- Avoid high cost regulatory penalties due to non-compliance
- Achieve a high regulatory rating
- Increase your security posture and technology return on investment
- Address the ongoing security wellness process of cyclical evaluations
For more information on how Covetrix can help your institution prepare for Federal Regulatory Audit, contact a member of our sales team at 1-877-780-1132 or send us an email at sales@covetrix.com. |
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