Compliance of IT processes and controls (IKS)

IT Compliance – from challege to opportunity

Due to the multitude of rules and regulations and constantly changing requirements, compliance has always been a central organisational area of every financial institution. 
Banking processes today would be entirely unthinkable without the support of IT systems. In turn, both IT systems and underlying processes have become the focus of increased regulation and monitoring by supervisory authorities. As the digitalization and outsourcing of IT systems and services continue to advance, this issue is set to become increasingly critical for financial institutions, rendering regulatory compliance without the comprehensive integration of systemic compontents impossible.

Compliance or performance?

SKS pursues an approach that generates real added value in terms of efficiency and effectiveness from the "necessary evil" of IT compliance.
Modern internal control systems (ICS) and processes take efficient implementation as well as compliance with supervisory and financial statement requirements into account in equal measure. This means that the introduction of appropriate controls and processes is inevitably linked to the analysis of existing potential for improvement and increased efficiency. 

Our approach is always as holistic and modular as possible with an eye toward effecient and standardizes processes and control actions customized to suit each individual client’s needs.  Our objective is to fulfil as many internal and external requirements as possible with as little effort as possible in terms of carrying out controls. This allows us to map out numerous requirements resulting, for example, from banking law requirements on IT (BAIT), the annual audit (e.g. IDW PS 330, IDW RS FAIT 1) or the ISO 27XXX standards, to design a combined internal control system (ICS) that leads both to a reduction in implementation and maintenance costs as well as to a reduction in internal and external audit costs. At the same time, our approach to introducing compliance-compliant processes affords clients the opportunity to analyze existing processes holistically and comprehensively in order to identify potential areas for improvement.

SKS is here to help you find the best way forward by leveraging our extensive regulatory process expertise and deep knowledge of both IT auditing and systems support, especially in the following areas:

  • Design, implemenation and optimization of IT processes and organizatino, e.g.:
    • IT supported technical processes
    • Incident management & workflows
    • Access management
    • Change management
    • IT operations, backup & recovery
    • outsourced IT processes and systems (IDW PS951)
  • Preparation, support and elimination of weak points in the course of IT audits
  • Consideration and implementation of best practices such as IT Infrastructure Library (ITIL) or Control Objectives for Information and related Technology (CobiT)
  • Modular and customized Internal Control System (ICS) design and underlying processes with standardized reporting structures: (e.g., BAIT, MA-Risk, IT-Grundschutz (BSI), IDW PS 330, IDW RS FAIT 1 and PS 951)

Let us put our extensive experience in implementing, optimizing and auditing IT processes, controls and organizations to work finding the optimal solution for you.