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#1789387 - 02/26/13 08:13 PM Red Flag Risk Assessment
vaforlovers Offline
100 Club
Joined: Nov 2004
Posts: 107
Examiners are now harping on our risk assessment. They want to see an assessment that the risk factors are rated prior to the analysis of existing controls and after the analysis of existing controls. And state where management formally addressed the residual risk areas to evaluate and reduce the risk by increasing the controls, accepting the risks, or transferring the risks.

can someone please provide me a copy of their assessment to give me a start?

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#1789788 - 02/27/13 07:37 PM Re: Red Flag Risk Assessment vaforlovers
SUSANE1 Offline
Platinum Poster
Joined: Mar 2008
Posts: 808
good lord - the before and after! i would like one also.

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#1789791 - 02/27/13 07:42 PM Re: Red Flag Risk Assessment vaforlovers
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Standard risk assessment methodology does consider inherent risk (the risk before any controls are in place), the strength of controls, and the residual risk with controls. Residual risk above low is then considered to see if controls should be strengthened, if risk can be reduced in some other manner (such as insurance, or even shutting down a high risk product), etc.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1790738 - 03/01/13 08:10 PM Re: Red Flag Risk Assessment vaforlovers
bew Offline
New Poster
Joined: Dec 2004
Posts: 5
Alabama
Can anyone share a sample of their ID Theft Risk Assessment spreadsheet on "one" product such as DDA or CD's? Trying to reorganize and condense my material. I am having the same discussions with our examiners.

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