Regulatory Alerts2024-08-29 | FIL-60-2024Updated FFIEC IT Examination Handbook Development, Acquisition, and Maintenance Booklet
The Federal Financial Institutions Examination Council issued the updated Development, Acquisition, and Maintenance booklet to replace its April 2004 predecessor and expand examination focus to include ongoing maintenance of IT systems. The guidance establishes enterprise-wide principles and updated procedures that help regulators assess governance, planning, acquisition, and change control without imposing new compliance mandates on supervised institutions. By clarifying evaluation standards for risk management and service delivery, the document ensures consistent oversight of IT lifecycle functions across financial entities and their third-party providers.
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