COSO FOR COOPBANK

By : Shiferaw Bekele
Date: February 18, 2022
 outlines
Significance
About COSO
of COSO

COSO Implementation
Justification Techniques

COSO vs
Wrap-up
others
 Developed by advisory council
01 representatives from industry,
About COSO

academia, gov’t, & non-profit.

intended to provide tools for C-level

02 mgt & board members.

Comprehensive frameworks on ERM,

03 IC, & fraud deterrence.

Designed to improve orgnal

04 performance/governance.
 Designed to Organized as: executive
reduce the level of summary, framework itself
COSO Justification
fraud in (), appendices, application
guide with illustrative
orgn/bank.
tools.

01 03

02 04

Sponsored/ 1992-2004-
funded by d/t 2010-2013-
sectors. 2015-2019-next
 Factors new bss env’t, globalization,
COSO Justification… expectation on govern, impact of
technology, demand of transparency

01

02 03

SO WHAT?

Changed area: codification,

clarification, expanded
R-category(int/ext financial/non-fin,
greater discussion of anti-fraud govern
 2015-COSO in z Cyber Age: white paper

3D
D1 D2 D3

Component Objective Org structure So, in which D

shall we focus?
3-demnsions of IC, cited from COSO in the Cyber Age 2015
17 principles vs. 5-Components, Cited from COSO Cyber in the Cyber Age
2015
Interconnection of z 5-components, Cited from COSO in the Cyber Age
2015
COSO Significance Secure + Vigilant +Resilient bank

My Team
01 02 My Directorate

My Process COOPbank
03 04
 Secure + Vigilant +Resilient bank
New growth Strategy
COSO Significance …
Mission
COOPBank Vision
Principles

IC
Process ERM
Compliance

FRM
Sub-process ORM
Cyber Security & BSS Continuity Mgt

Cyber Risk Assessment/Taxonomy

Team Cyber Security Capacity Building program
Cyber Security Governance Tools Development
Implement Techniques Way of implementing COSO in COOPBank

Alignment Deming cycle PDCA

Tailoring/Scoping Risk mgt cycle AAT

 Wrap-Up
The more we secured the more we profited

COOPbank should invest in cost-justified

security controls
THANK YOU!