Information security, internal controls, workforce planning and building renovations are priorities that the Consumer Financial Protection Bureau should quickly address, its inspector general said last week.
In a report sent to CFPB Director Richard Cordray, the agency's inspector general reiterated concerns about a host of issues, focusing particularly on information security. It cited weaknesses in the CFPB's continuous monitoring system, reiterating concerns that the agency remains vulnerable regarding information security.
The CFPB "has not fully implemented processes within its internal network that would enable the agency to detect and better protect against unauthorized access to and disclosure of its sensitive information and help lower the risk of insider threats," the report said.
The agency also lacks knowledge of a variety of cloud-based services used by third-party contractors.
Additionally, the watchdog agency warned about gaps in the CFPB's internal controls, saying it lacks comprehensive policies in some areas.
"Our work and that of the [Government Accountability Office] show that CFPB did not fully ensure that its staff members were aware of and complied with its existing policies and procedures," the report said.
It recommended that the agency focus on developing a high-performing and engaged workforce. The inspector general's office suggested the CFPB strengthen its workforce, planning including succession planning, and implement and improve its performance management system to mentor and enhance performance feedback.