MEFMI Holds a Workshop to Empower Financial Examiners with IT Examination Skills

To enhance effective supervision and operational resilience in the region, MEFMI held a regional workshop for Information Technology Examiners from 11 to 14 March 2025 in Arusha, Tanzania.

Technology risk is a significant component of the operational risk faced by financial institutions. In this digital era, the increasing reliance on Information Technology (IT) and the heightened threat of cyber risks make it essential for financial services authorities to improve their skills in conducting IT examinations. The workshop aimed to provide participants with a foundational understanding of how to identify and assess IT and cyber risks that can affect financial institutions, as well as how to maintain effective mitigating controls. It was designed to equip examiners with concepts and techniques to enhance their ability to assess technology risks within financial institutions.

Targeting junior to senior examiners responsible for conducting IT examinations in financial institutions across MEFMI member countries, the workshop included lectures, case studies, and hands-on exercises to train examiners in analysing technology risks. Key topics covered included the technology landscape, IT risk assessments, IT governance, information security programs, business continuity management, supervision of cloud computing and fintech, and examination processes.

The event was opened by Dr. Patrick Mutimba, the Director of the Financial Sector Management Programme at MEFMI. In his opening remarks, Dr. Mutimba welcomed the participants and highlighted that the workshop was the first of its kind organised by MEFMI, focusing specifically on IT examinations featuring a comprehensive program including a webinar, an e-learning course, and a face-to-face event.

A total of 21 participants attended the workshop, which included prudential examiners from banks, insurance companies, pensions, securities, and capital markets, as well as financial stability analysts and IT specialists assigned to conduct IT examinations. Notably, there were only six female participants among the 21 delegates, prompting Dr. Mutimba to encourage institutions to promote greater female participation in future events. Participants represented nine MEFMI countries, namely; Botswana, Eswatini, Kenya, Malawi, South Sudan, Tanzania, Uganda, Zambia, and Zimbabwe.

By Glory Kasasi