FFIEC IT Examination Handbook
Development, Acquisition, and Maintenance booklet (August 2024) – FFIEC IT Examination Handbook

FFIEC IT Examination Handbook DAM-VI.E.1: VI.E.1 Statement of Work (Development, Acquisition, and Maintenance)

What does DAM-VI.E.1 require?

A statement of work details the activities and outputs of development, the maintenance standards for operations, security assurance requirements such as code reviews, penetration tests and SOC reports with the processes the developer follows, and the verification and completion evidence required for payment, and covers the purpose of the relationship, objectives, scope, schedule and deadlines, requirements with penalties or payment retention, objective completion measures, payment, legal and regulatory requirements, location and duration and acceptance criteria, with guidance and training that support a structured approach and stakeholder involvement.

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The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.