Set And Monitor FFIEC Information Security Controls
Regardless of their size, financial institutions must endure both an annual independent IT audit that includes information security and an annual regulatory exam. With Drata’s platform, you can get compliant faster by reviewing your current controls and gaining visibility into additional controls you need to implement.
To maintain your compliance posture, you can leverage Drata’s continuous control monitoring capabilities, ensuring that controls function as intended. You can provide our shareable security report to auditors and examiners during the documentation request phase, giving them at-a-glance visibility into your compliance posture.
Monitor And Document Compliance In A Simple, Central Platform
Stop wasting time responding to each documentation request. Consolidate your growing tech stack into a centralized platform to create a single source of truth for all compliance monitoring.
Minimize the time spent responding to auditor and examiner requests by combining all monitoring and audit trails within Drata’s easy-to-use platform. Using shared controls between frameworks, automated tests, and the central readiness dashboard, you can streamline compliance by mapping your FFIEC controls from frameworks like PCI DSS for consistency and efficiency.
Create And Map Custom Controls To Automated Tests
The FFIEC Cybersecurity Assessment Tool provides guidance for financial institutions to mature their programs beyond the IT Handbook's Information Security Booklet minimum baseline requirements. You can apply existing Drata controls to meet baseline maturity or create customized controls and further document your maturity.
When you map your custom controls to our automated tests, you can continuously monitor and document your compliance efforts as you iterate your program. When adding new processes aligned to the maturity model, you can use our Jira integrations to delegate and track compliance-related tasks.
What's Included With FFIEC
Complying with the textbook of financial regulations is hard enough. Everything you need for FFIEC—and more—in one platform.
Drata displays the requirements associated with FFIEC. We stay up to date on the latest information to keep you in compliance.
Customization for Your Needs
Customize FFIEC to your compliance needs with features like custom controls and mapping automated tests to controls.
Requirement Scoping Baseline
Use the Control Baseline to select the maturity level for FFIEC and automatically scope requirements that meet compliance.
Make immediate progress toward your FFIEC framework by implementing controls already enabled for your other frameworks.
One Central Dashboard
Know where you stand. Our Framework Readiness Dashboard tracks progress towards requirements and controls.
Support and Live Chat
Drata’s support team consists of compliance experts and former auditors. Our experts are a click away.
The Latest Resources
Frequently Asked Questions About CMMC
Can I create controls for each of the requirements?
Yes, with Drata's custom control feature, you can create controls for each framework based on your individual scope of work.
What is FFIEC?
The Federal Financial Institutions Examination Council (FFIEC) is the interagency body that determines principles, standards, and report forms used by regulatory auditors across the FRB, FDIC, NCUA, and OCC. Its Cybersecurity Assessment Tool is for financial institutions to measure their cybersecurity preparedness over time.
Why is the FFIEC important?
Since the FFIEC sets the requirements that govern regulatory audits, financial institutions can use the resources to help them set necessary baselines to pass their audits.
The FFIEC Information Security Handbook guides regulatory examiners when they evaluate a financial institution’s overall information security risk management program. While the National Credit Union Administration (NCUA) has its own set of standards, these are based on the FFIEC IT Handbook.
What is the FFIEC Cybersecurity Assessment Tool?
In 2017, the FFIEC released the Cybersecurity Assessment Tool so that institutions could create repeatable and measurable processes to determine their cybersecurity preparedness over time.
The Cybersecurity Assessment Tool defines five levels of inherent risk so that financial institutions can standardize their risk analysis practices.
When determining Cybersecurity Maturity as part of the Assessment, the Tool sets out five domains:
Domain 1: Cyber Risk Management and Oversight
Domain 2: Threat Intelligence and Collaboration
Domain 3: Cybersecurity Controls
Domain 4: External Dependency Management
Domain 5: Cyber Incident Management and Resilience
Institutions then determine their maturity within each Domain based on the following 5 maturity levels, with each new level including all the requirements of the ones previous:
Baseline - Minimum, legally-required expectations mapped to the FFIEC Information Security booklet
Evolving - Establishment of risk-driven objectives plus additional documented procedures and policies beyond the minimum required.
Intermediate - Detailed, formal processes including consistent, validated controls
Advanced - Integrated cybersecurity practices and analytics across lines of business that use automation for the majority of risk management processes and include continuous process improvement
Innovative - New controls developed, new tools implemented, or new information-sharing groups created while leveraging real-time predictive analytics tied to automated responses.
Automate Your Journey
Drata's platform experience is designed by security and compliance experts so you don't have to be one.