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Informational Memorandum
Subject:FCA Examination Manual Update
Date of Memorandum:02/22/2005
Expiration Date:
Office:OE
Signed By:McKenzie, Thomas
FCA Contact Person:Rodney, Eric
Contact Phone:703-883-4451
List of Attachments:

INFORMATIONAL MEMORANDUM



February 22, 2005


To: The Chief Executive Officer
All Farm Credit System Institutions

From: Thomas G. McKenzie, Director
Office of Examination

Subject: FCA Examination ManualUpdate

Farm Credit Administration’s (FCA) Examination Manual section entitled “Information Technology” is available for your use and can be downloaded from our Web site. A printed version of this update will not be provided with this Informational Memorandum.

The Information Technology (IT) section contains the baseline expectations used by FCA examiners to examine information systems and technology operations in all Farm Credit System (FCS) institutions. The section provides the basis for a consistent approach to the examination and supervision of Farm Credit banks, associations, and service corporations. It also provides all FCS institutions with the baseline expectations for general controls.

The IT section is new to the FCA Examination Manual. The examination of information technology is another component of the examination function and is an area of enterprise risk that deserves your attention. You should view IT risks as one of the specific areas of an examination and the overall examination process. The IT section is divided into several modules representing broad categories of IT functions. The modules are as follows:

  • Management
  • Business Continuity
  • IT Audit
  • System Development
  • E-commerce
  • Technology Service Provider and Receiver
  • Security
  • Glossary
  • Operations
Each module is comprised of the following parts: Introduction, Examination Objectives, Examination Procedures, and Essential Practice Statements.



We anticipate the IT modules will be updated as the FCS and the technology industry change, as institution involvement in information technology increases in criticality and complexity, and as the examination process evolves to address new risks and changes in laws and regulations.

The IT modules can be viewed via our Web site (www.fca.gov) on the Web page titled “Resources for the FCS”
(www.fca.gov/Resources for FCS.htm). There you will find PDF documents for each module. The PDF documents have active links to various references and can be viewed using Adobe Reader. We encourage you to download these PDF documents to your PC and print hard copies for future reference and use by your staff.

If you have any questions about this memorandum, please contact Eric Rodney, Office of Examination, at (703) 883-4451 (e-mail address rodneye@fca.gov).