Compliance expectations surrounding Cybersecurity continue to increase. Effective June 30th, 2015 the Federal Financial Institutions Examination Council (FFIEC) released new guidance for financial institutions to implement a Cybersecurity Risk Assessment. In a recent announcement, NCUA 16-CU-01 restates its encouragement for credit unions to leverage the FFIEC Cybersecurity Assessment guidance and advises that the examiners will be incorporating the cybersecurity assessment as part of their examination in the second half of 2016.
Historically financial institutions have been asked to create risk based approaches to information security issues, which will ensure the protection of member information. To ensure regulators feel confident in an institutions ability to manage risk, the new cybersecurity assessment tool should be incorporated into each credit union’s process prior to their next exam. This will give a Credit Union a head start on addressing cyber related issues prior to the examiner identifying those and regulating them accordingly. Waiting to complete the cybersecurity assessment could fuel an examiners concerns about the overall risk management process of an institution.
In this presentation, learn more about the NCUA’s expectations, the FFIEC Cybersecurity Assessment Guidance, and how to effective implement the assessment and mitigate risks in your institution.
- Cybersecurity Overview
- FFIEC Cybersecurity Assessment Tool Details
- NCUA Examination Expectations
- Management’s Responsibility for Cybersecurity
- Driving Real Value from Risk Assessments
Who Should Attend?This webinar will benefit the CEO, Information Security Officer, Network Administrator, Risk Officer, or other management team members involved in information security.
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