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Privacy Impact Assessment of Electronic Workpaper Program (EWP) Supervisory Systems - federalreserve 2025

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The document is a Privacy Impact Assessment for the Electronic Workpaper Program (EWP) Supervisory Systems, managed by the Board of Governors of the Federal Reserve System. It outlines the system's purpose, which includes creating, reviewing, and storing documentation related to financial institution supervision. While EWP is not designed to capture personal information, it may involve personally identifiable information from financial institutions. The assessment details data collection sources, usage purposes, access restrictions, accuracy procedures, retention policies, security measures, and confirms that no new Privacy Act system of records is required.
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The IRS conducts Privacy Impact Assessments (PIAs) on information systems that collect personally identifiable information.
PIA Overview The objective of the PIA is to systematically identify the risks and potential effects of collecting, maintaining, and disseminating PII and to examine and evaluate alternative processes for handling information to mitigate potential privacy risks.
An impact assessment is a planning and decision-making tool used to assess the potential positive and negative effects of proposed projects. Impact assessments consider a wide range of factors and propose measures to mitigate projects adverse effects.
A PIA should accomplish two goals: (1) it should determine the risks and effects of collecting, maintaining, and disseminating information in identifiable form via an electronic information system; and (2) it should evaluate protections and alternative processes for handling information to mitigate potential privacy
A PIA is typically designed to accomplish three main goals: Ensure conformance with applicable legal, regulatory, and policy requirements for privacy. Identify and evaluate the risks of privacy breaches or other incidents and effects. Identify appropriate privacy controls to mitigate unacceptable risks.

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Privacy Impact Assessments (PIAs) The purpose of a PIA is to demonstrate that program managers and system owners consciously incorporated privacy protections throughout the development life cycle of a system or program.
A privacy impact assessment (PIA) is a process used to determine how a program or service could affect the privacy of an individual. It can also help to avoid or lessen possible negative effects on privacy that might result from a program or service.

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