Financial institutions know the pressure of handling sensitive information as well as the costs of inconsistent data or even a data breach. As part of the delicate nature of being in the financial industry, many organizations are inevitably required to adhere to recommendations from the Federal Financial Institutions Examination Council (FFIEC) to assess and mitigate risk to their organization and customers.
Flexera’s 2022 State of ITAM Report found that 83% of SAM teams’ time is consumed by audit-related activities, an increase of 20 percent over last year.
Unlike audits from vendors, IT audits by regulatory bodies require compliance based on levels of maturity. This relates to the size and complexity of your organization. As audits recur, which is likely, you can build on the experience to make your IT more secure, better controlled and ready to adapt to changing technology.
Join Flexera’s John Schwartzenberger to see how regulatory agencies like the FFIEC audit financial organizations like yours, and how a proactive approach to program building around lifecycle management, compliance and vulnerability assessment can pay compound dividends.