On-site IT inspection simulation has been saved
On-site IT inspection simulation
Test your technology governance readiness
The importance of the implementation and operating effectiveness of a robust information technology control framework has never been greater. Risks behind information technologies are not only operational but also strategic, reputational and financial.
More than ever, supervisory authorities (Luxembourg and European) are monitoring and auditing how organizations are managing their IT risks. In recent years, on-site IT inspections have significantly increased, focusing on hot topics such as cybersecurity, business continuity, change management, data integrity, and outsourcing. The outcome of these inspections can conclude in non-compliance or breach reports, with strict deadlines for remediation action implementation.
In this context, organizations should perform readiness activities to prepare for the on-site IT inspection of supervisory authorities.
How can Deloitte help?
At Deloitte, we recognize the multiple challenges faced by organizations concerning compliance with regulatory requirements as well as the increased scrutiny of regulators in enforcing those requirements. We help banks, PFS, management companies, and other organizations to prepare for on-site IT inspections.
How does it work?
Deloitte assists banks, PFS, management companies, and other organizations by simulating the on-site IT inspection, providing recommendations for improvement.
This will improve the company’s preparedness when the supervisory authorities arrive as well as provide improvements in the efficiency of the IT risks monitoring and control framework.
The on-site IT inspection simulation can cover multiple topic, such as:
The focus of the on-site IT inspection simulation will be customized according to the individual needs of an organization
Our approach and methodology
During the on-site IT inspection simulation our experts assess the client’s compliance with relevant regulatory requirements as well as help the client prepare for the inspection. The inspection comprises Deloitte’s advice on the best market practices, industry knowledge as well as insights into the regulatory landscape (e.g. CSSF Circulars, EBA Guidelines) and the interactions with the regulator with regards to on-site inspections.
The results of this simulation will help to not only prepare for the supervisory authorities inspection, but also to improve the current management of IT risks and regulatory compliance.