Following BAIT and VAIT – two circulars on supervisory IT requirements for financial institutions and insurance undertakings already published by BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) – another circular on the supervisory requirements for IT in fund management companies (Kapitalverwaltungsaufsichtliche Anforderungen an die IT – KAIT) was published on on 1 October 2019.
IT tools and processes are of fundamental importance for the finance industry. KAIT was introduced as a means to offer transparency to management boards of German asset managers with regard to the secure design of IT systems and their processes, with compliance to the requirements placed on IT governance and information security.
KAIT coverage within the Alyne Platform
Within KAIT, BaFin deals with eight topics:
- Sustainable IT strategy;
- IT governance;
- Information risk management;
- Information security management;
- User access management;
- Requirements for IT projects and application development;
- Requirements for IT operations (including data backup); and
- Outsourcing and other external procurement of IT services.
These topics are covered fully within Alyne’s content, which includes a KAIT Control Set containing 320 Control Statements allowing you to more easily meet the IT requirements set out for Asset Managers in Germany. The update has been provided, as with all library updates, to existing and new Alyne customers alike.
Futher to meeting KAIT requirements, Alyne’s platform also offers capability for compliance with the extension modules, VAIT KRITIS and BAIT KRITIS.
Contact our sales team at support@alyne.com to learn how Alyne can help your organisation with simplified compliace to these regulations, or schedule a meeting with an expert to experience Alyne's full capabilities.
