Skip to content

Build your mobile risk management program

Does the new mobile financial service (MFS) guidance included in Appendix E to the FFIEC IT Examination Handbook for Retail Payment Systems provide any direction we’re supposed to take to meet expectations?

In some cases yes, the guidance is quite prescriptive, which can be alarming for institutions that aren’t meeting the expectations. In other cases the guidance is vague. Overall, the expectation is that the bank measures its own unique risks based on the products and services it offers, then define appropriate controls and test those controls regularly. The guidance will also prove useful for institutions considering enhanced mobile services in the future.
Some risks that a bank should understand and consider aren’t covered in this version of the guidance, such as risks associated with your customer’s use of public Wi-Fi. We’ll explore what’s covered in the guidance and what is not, so that your due diligence and risk management program is robust.
Learn more about Rayleen Pirnie’s webinar Mobile Services Risk Management

First published on 09/04/2016

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics