Question

Read the subsections of the risk mitigation security control of the Federal Financial Institution Examination Council (FFIEC) located athttp://ithandbook.ffiec.gov/it-booklets/operations/risk-mitigation-and-control-implementation.aspx. Next, infer on the five (5) controls likely to be found in small community financial institutions such as credit unions. Justify your choices.

Answer 1

Following are the five controls and risk mitigation used in small community financial institution:

1) Help desk support:

For customer query and satisfaction, help desk plays an important role.

2) Information Control:

Controlling on the available information is essential to do the processing on given query.

3) Environmental Control:

Environmental controlling supports proprer ventilation and air conditioning to become active environment for employees and customer.

4) Preventive Maintenance:

It is better to solve problem before occures for more customer satisfaction and growth of the organization.

5) Physical and logical security:

As a financial organization must required the security at physical level as well as logical level for 24 hours.