Cyber Security and your Financial Institution: Are you ready for the increased scrutiny related to cyber risks?

Save this PDF as:

Size: px
Start display at page:

Download "Cyber Security and your Financial Institution: Are you ready for the increased scrutiny related to cyber risks?"

Transcription

1 Cyber Security and your Financial Institution: Are you ready for the increased scrutiny related to cyber risks? August 27, 2014 Presented by: Terry Ammons, Partner, Porter Keadle Moore Tim Davis, Senior, Porter Keadle Moore

2 Agenda Overview of the cybersecurity landscape The expected approaches of regulators How to prepare for the increased scrutiny The importance of threat awareness The impact of third parties and vendor management Tips for using a risk assessment as a practical discovery tool How to effectively respond to a cybersecurity event

3 Overview of the cybersecurity landscape What is cybersecurity? Cyber security is a body of technologies, processes and practices designed to protect networks, computers, programs and data from attack, damage and unauthorized access. One of the most problematic elements of cyber security is the quickly and constantly evolving nature of security risks.

4 Overview of the cybersecurity landscape What does the cybersecurity landscape look like? Current controls in place are inadequate to protect against cybersecurity attacks on financial infrastructure. Bank regulators and security officials have expanded their focus from fraud detection to cybersecurity prevention.

5 Overview of the cybersecurity landscape The Federal Financial Institutions Examination Council (FFIEC) has taken three initial steps to increase awareness in the US financial system: Launched a web page to consolidate cybersecurity sources that can be easily accessed by banks; Hosted webinars for bank CEOs, senior management, and audit committees to make them aware of cyber threats and their role in mitigating them; and Created a pilot program to conduct cybersecurity risk assessments.

6 Polling Question #1 Did you attend the recent FFIEC Webinar on Cybersecurity? Yes No I m not sure what that is

7 The expected approaches of regulators Cybersecurity Risk Assessment Pilot Program The federal government s first large-scale initiative, Targeted more than 500 community financial institutions, Overseen by the Federal Financial Institutions Examination Council (FFIEC). The program consisted of three broad elements: Educating financial institutions about the pilot program and holding bank executives and audit committees responsible for identifying, managing, and mitigating risks Identifying action steps banks can take to ensure their cybersecurity strategy will meet current and evolving government regulations Conducting cybersecurity risk assessments to test the awareness and readiness of community banks and credit unions

8 The expected approaches of regulators Cybersecurity risk assessments Initial steps will be data gathering only Verbal feedback, but no written examination findings or recommendations Focus on documenting current state The target state will involve additional regulatory expectations

9 FDIC Required Elements of a Cybersecurity Risk Management Program Threat intelligence and collaboration Internal & External Resources Third -party service provider and vendor risk management Governance risk management and oversight Incident response and resilience

10 Polling Question #2 Did your financial institution take part in the Cybersecurity Pilot Program? Yes No I Don t Know

11 Threat Intelligence Source External Hackers Motivation Challenge Ego Game Playing Threat System hacking Social engineering Dumpster diving Internal Hackers Terrorist Poorly trained employees Deadline Financial problems Disenchantment Revenge Political Unintentional errors Programming errors Data entry errors Backdoors, Fraud, Poor documentation System attacks Social engineering Letter bombs Viruses Denial of service Corruption of data Malicious code introduction System bugs Unauthorized access

12 Threat Intelligence and Collaboration Internal & External Resources Regulators expect all financial institutions to: Identify and monitor cyber-threats to their organization, and to the financial sector as a whole. Make sure this real-world information is factored into your risk assessment Monitoring Tools: Financial Services Information Sharing and Analysis Centers (ISACs) - U.S. Secret Service Electronic Crimes Task Force (ECTF) - FBI InfraGard - NCUA Cyber Security Resources - FDIC Cyber Challenge: A Community Bank Cyber Exercise

13 Threat Intelligence Impact Triangle My Institution My Vendors My Customers

14 Polling Question #3 What percentage of cyber attacks target businesses with fewer than 500 employees? 20% 40% 60% 80%

15 Threat Intelligence The Threat Environment Businesses with fewer than 500 employees* 40% do not have an incident response plan 48% do not have a cybersecurity plan 77% do not have a formal, written Internet security policy * National Small Business Study by the National Cyber Security Alliance and Symantec

16 Third-party Service Provider and Vendor Risk Management Managing cybersecurity relies on managing the risk originating at third-parties Focus on vendors with access to your network, customer data and/or other sensitive information Pay particular attention to the following: Pre-contract planning and negotiation Review of current contracts with critical vendors Ongoing monitoring of vendor practices Prompt notification of material incidents Termination/disengagement with noncompliant vendors

17 Governance Risk Management And Oversight Virtually all FFIEC IT Handbooks list proper governance as the first and most important item necessary for compliance! What does proper governance entail? Update & Test your Policies, Procedures and Practices. Assess your Cybersecurity Risk Adjust your Policies, Procedures and Practices as needed based on the risk assessment results. Use your IT Steering Committee (or equivalent) to manage the process. Provide periodic Board updates.

18 Risks to the Financial Institution Financial Loss Reputation Risk Legal Liability

19 Example Risk Assessment Commercial Internet Banking Business Internet Banking/ Cash Management Account compromise/ Account take over High Medium User ID Passwords Network hardening IPS/IDS Acceptable

20 Information and Decision Flows within an Organization

21 Incident Response and Resilience Whether it originates internally or externally, a security incident is a virtual certainty. Be Prepared: Update your incident response program (IRP) to include cybersecurity events. Ensure your IRP contains the following elements: The incident response team members A method for classifying the severity of the incident A response based on severity, to include internal escalation, and external notification. Periodic testing and Board reporting

22 Threat Management and Incident Response Understand your Risk Position Where is my data? What types of systems do I have? What controls are in place? Will this threat affect me?

23 Threat Management and Incident Response Heartbleed Business Internet Banking/ Cash Management High High User ID s High and passwords Network hardening IPS/IDS

24 Threat Management and Incident Response Heartbleed Business Internet Banking/ Cash Management High High User ID s Low and passwords Network hardening IPS/IDS Multi factor authentication

25 NIST Framework Core Regulators are following the National Institute of Standards and Technology (NIST) cybersecurity framework that provides a common mechanism for organizations to: Describe their current cybersecurity posture; Describe their target state for cybersecurity; Identify and prioritize opportunities for improvement within the context of a continuous and repeatable process; Assess progress toward the target state; and Communicate among internal and external stakeholders about cybersecurity risk.

26 NIST Framework Core

27 So What Do You Need To Do Now? Ensure that procedures are in place to secure customer and confidential data and recover critical business processes Regardless of the source or nature of the threat. Policies should be impact-based, not threat-based. Update your risk assessments if they don t specifically account for cybersecurity threats. Vendor Risk Assessment--for their exposure to, and protection from, cybersecurity threats BCP Risk Assessment--should account for the impact and probability of cybersecurity threats Controls should be adjusted accordingly (i.e. audit reports, NVAs, Pen tests, etc.).

28 Polling Question #4 How prepared do you believe your financial institution is for the increased regulatory scrutiny related to cyber risks? A. Very Prepared B. Prepared C. Needs Improvement D. Unsure

29 Questions? Terry Ammons Systems Partner (404) Timothy Davis Systems Senior (404)

30 Sign up for our next Webinar! Corporate Governance in Today s Environment Wednesday, October 8 th 2014 (3:00-4:00 pm EST) Register:

AUDIT TAX SYSTEMS ADVISORY

AUDIT TAX SYSTEMS ADVISORY AUDIT TAX SYSTEMS ADVISORY Presented by: Jim Rumph Introduction JIM RUMPH, CISA Systems Manager Jim is a graduate of the University of Georgia with a Bachelor of Business Administration in Accounting and

More information

Ed McMurray, CISA, CISSP, CTGA CoNetrix

Ed McMurray, CISA, CISSP, CTGA CoNetrix Ed McMurray, CISA, CISSP, CTGA CoNetrix AGENDA Introduction Cybersecurity Recent News Regulatory Statements NIST Cybersecurity Framework FFIEC Cybersecurity Assessment Questions Information Security Stats

More information

FFIEC Cybersecurity Assessment Tool Overview for Chief Executive Officers and Boards of Directors

FFIEC Cybersecurity Assessment Tool Overview for Chief Executive Officers and Boards of Directors Overview for Chief Executive Officers and Boards of Directors In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council 1 (FFIEC) developed

More information

Cybersecurity: What CFO s Need to Know

Cybersecurity: What CFO s Need to Know Cybersecurity: What CFO s Need to Know William J. Nowik, CISA, CISSP, QSA PCIP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2014 Wolf & Company, P.C. Today s Agenda Introduction

More information

Cybersecurity Issues for Community Banks

Cybersecurity Issues for Community Banks Eastern Massachusetts Compliance Network Cybersecurity Issues for Community Banks Copyright 2014 by K&L Gates LLP. All rights reserved. Sean P. Mahoney sean.mahoney@klgates.com K&L Gates LLP State Street

More information

Cybersecurity. Are you prepared?

Cybersecurity. Are you prepared? Cybersecurity Are you prepared? First Cash, then your customer, now YOU! What is Cybersecurity? The body of technologies, processes, practices designed to protect networks, computers, programs, and data

More information

THE EVOLUTION OF CYBERSECURITY

THE EVOLUTION OF CYBERSECURITY THE EVOLUTION OF CYBERSECURITY Identifying Best Practices June 2, 2015 Cerone F. Cy Sturdivant Managing Consultant Nashville, TN 1 TO RECEIVE CPE CREDIT Participate in entire webinar Answer polls when

More information

Cybersecurity. Regional and Community Banks. Inherent Risks and Preparedness. www.bostonfed.org

Cybersecurity. Regional and Community Banks. Inherent Risks and Preparedness. www.bostonfed.org Cybersecurity Inherent Risks and Preparedness Regional and Community Banks www.bostonfed.org Disclaimer The opinions expressed in this presentation are intended for informational purposes, and are not

More information

Cyber Risks in the Boardroom

Cyber Risks in the Boardroom Cyber Risks in the Boardroom Managing Business, Legal and Reputational Risks Perspectives for Directors and Executive Officers Preparing Your Company to Identify, Mitigate and Respond to Risks in a Changing

More information

NIST Cybersecurity Framework & A Tale of Two Criticalities

NIST Cybersecurity Framework & A Tale of Two Criticalities NIST Cybersecurity Framework & A Tale of Two Criticalities Vendor Management & Incident Response Presented by: John H Rogers, CISSP Advisory Services Practice Manager john.rogers@sagedatasecurity.com Presented

More information

2015 CEO & Board University Cybersecurity on the Rise. Matthew J. Putvinski, CPA, CISA, CISSP

2015 CEO & Board University Cybersecurity on the Rise. Matthew J. Putvinski, CPA, CISA, CISSP 2015 CEO & Board University Cybersecurity on the Rise Matthew J. Putvinski, CPA, CISA, CISSP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2011 Wolf & Company, P.C. About Wolf

More information

Cybercrime and Regulatory Priorities for Cybersecurity

Cybercrime and Regulatory Priorities for Cybersecurity NRS Technology and Communication Compliance Forum Cybercrime and Regulatory Priorities for Cybersecurity Copyright 2014 by K&L Gates LLP. All rights reserved. Sean P. Mahoney sean.mahoney@klgates.com K&L

More information

By: Gerald Gagne. Community Bank Auditors Group Cybersecurity What you need to do now. June 9, 2015

By: Gerald Gagne. Community Bank Auditors Group Cybersecurity What you need to do now. June 9, 2015 Community Bank Auditors Group Cybersecurity What you need to do now June 9, 2015 By: Gerald Gagne MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2015 Wolf & Company, P.C. Cybersecurity

More information

White Paper on Financial Industry Regulatory Climate

White Paper on Financial Industry Regulatory Climate White Paper on Financial Industry Regulatory Climate According to a 2014 report on threats to the financial services sector, 45% of financial services organizations polled had suffered economic crime during

More information

FFIEC Cybersecurity Assessment Tool

FFIEC Cybersecurity Assessment Tool Overview In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council 1 (FFIEC) developed the Cybersecurity Tool (), on behalf of its members,

More information

CYBERSECURITY HOT TOPICS

CYBERSECURITY HOT TOPICS 1 CYBERSECURITY HOT TOPICS Secure Banking Solutions 2 Presenter Chad Knutson VP SBS Institute Senior Information Security Consultant Masters in Information Assurance CISSP, CISA, CRISC www.protectmybank.com

More information

Cybersecurity Governance Update: New FFIEC Requirements cliftonlarsonallen.com

Cybersecurity Governance Update: New FFIEC Requirements cliftonlarsonallen.com Cybersecurity Governance Update: New FFIEC Requirements cliftonlarsonallen.com Overview Up To Date Cybersecurity and Fraud Risks Current threat environment Industry examples and case studies FFIEC Cybersecurity

More information

What is Management Responsible For?

What is Management Responsible For? What is Management Responsible For? Matthew J. Putvinski, CPA, CISA, CISSP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2011 Wolf & Company, P.C. About Wolf & Company, P.C Regional

More information

PACB One-Day Cybersecurity Workshop

PACB One-Day Cybersecurity Workshop PACB One-Day Cybersecurity Workshop WHAT IS CYBERSECURITY? PRESENTED BY: JON WALDMAN, SBS CISA, CRISC 1 Contact Information Jon Waldman Partner, Senior IS Consultant CISA, CRISC Masters of Info Assurance

More information

What Directors need to know about Cybersecurity?

What Directors need to know about Cybersecurity? What Directors need to know about Cybersecurity? W HAT I S C YBERSECURITY? PRESENTED BY: UTAH BANKERS ASSOCIATION AND JON WALDMAN PARTNER, SENIOR IS CONSULTANT - SBS 1 Contact Information Jon Waldman Partner,

More information

ICBA Summary of FFIEC Cybersecurity Assessment Tool

ICBA Summary of FFIEC Cybersecurity Assessment Tool ICBA Summary of FFIEC Cybersecurity Assessment Tool July 2015 Contact: Jeremy Dalpiaz Assistant Vice President Cyber Security and Data Security Policy Jeremy.Dalpiaz@icba.org www.icba.org ICBA Summary

More information

CYBERSECURITY: PROTECTING YOUR ORGANIZATION AGAINST CYBER ATTACKS. Viviana Campanaro CISSP Director, Security and Compliance July 14, 2015

CYBERSECURITY: PROTECTING YOUR ORGANIZATION AGAINST CYBER ATTACKS. Viviana Campanaro CISSP Director, Security and Compliance July 14, 2015 CYBERSECURITY: PROTECTING YOUR ORGANIZATION AGAINST CYBER ATTACKS Viviana Campanaro CISSP Director, Security and Compliance July 14, 2015 TODAY S PRESENTER Viviana Campanaro, CISSP Director, Security and

More information

Cybersecurity Awareness. Part 2

Cybersecurity Awareness. Part 2 Part 2 Objectives Discuss the Evolution of Data Security Define and Discuss Cybersecurity Review Threat Environment Part 1 Discuss Information Security Programs s Enhancements for Cybersecurity Risks Threat

More information

Click to edit Master title style

Click to edit Master title style EVOLUTION OF CYBERSECURITY Click to edit Master title style IDENTIFYING BEST PRACTICES PHILIP DIEKHOFF, IT RISK SERVICES TECHNOLOGY THE DARK SIDE AGENDA Defining cybersecurity Assessing your cybersecurity

More information

Data Breach Response Planning: Laying the Right Foundation

Data Breach Response Planning: Laying the Right Foundation Data Breach Response Planning: Laying the Right Foundation September 16, 2015 Presented by Paige M. Boshell and Amy S. Leopard babc.com ALABAMA I DISTRICT OF COLUMBIA I FLORIDA I MISSISSIPPI I NORTH CAROLINA

More information

Cybersecurity: Considerations for Internal Audit. IIA Atlanta Chapter Meeting January 9, 2015

Cybersecurity: Considerations for Internal Audit. IIA Atlanta Chapter Meeting January 9, 2015 Cybersecurity: Considerations for Internal Audit IIA Atlanta Chapter Meeting January 9, 2015 Agenda Key Risks Incorporating Internal Audit Resources for Internal Auditors Questions 2 Key Risks 3 4 Key

More information

CYBERSECURITY INVESTIGATIONS

CYBERSECURITY INVESTIGATIONS CYBERSECURITY INVESTIGATIONS Planning & Best Practices May 4, 2016 Lanny Morrow, EnCE Managing Consultant lmorrow@bkd.com Cy Sturdivant, CISA Managing Consultant csturdivant@bkd.com Michal Ploskonka, CPA

More information

SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry

SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry DATA BREACH A FICTIONAL CASE STUDY THE FIRST SIGNS OF TROUBLE Friday, 5.20 pm :

More information

CORE Security and GLBA

CORE Security and GLBA CORE Security and GLBA Addressing the Graham-Leach-Bliley Act with Predictive Security Intelligence Solutions from CORE Security CORE Security +1 617.399-6980 info@coresecurity.com www.coresecurity.com

More information

Managing Cyber Risk through Insurance

Managing Cyber Risk through Insurance Managing Cyber Risk through Insurance Eric Lowenstein Aon Risk Solutions This presentation has been prepared for the Actuaries Institute 2015 ASTIN and AFIR/ERM Colloquium. The Institute Council wishes

More information

TESTIMONY OF VALERIE ABEND SENIOR CRITICAL INFRASTRUCTURE OFFICER OFFICE OF THE COMPTROLLER OF THE CURRENCY. Before the

TESTIMONY OF VALERIE ABEND SENIOR CRITICAL INFRASTRUCTURE OFFICER OFFICE OF THE COMPTROLLER OF THE CURRENCY. Before the For Release Upon Delivery 10:00 a.m., December 10, 2014 TESTIMONY OF VALERIE ABEND SENIOR CRITICAL INFRASTRUCTURE OFFICER OFFICE OF THE COMPTROLLER OF THE CURRENCY Before the COMMITTEE ON BANKING, HOUSING,

More information

Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder

Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder Ten Questions Your Board Should be asking about Cyber Security Eric M. Wright, Shareholder Eric Wright, CPA, CITP Started my career with Schneider Downs in 1983. Responsible for all IT audit and system

More information

Briefly describe the #1 problem you have encountered with implementing Multi-Factor Authentication.

Briefly describe the #1 problem you have encountered with implementing Multi-Factor Authentication. Polling Question Briefly describe the #1 problem you have encountered with implementing Multi-Factor Authentication. Please type in your response. This poll will close promptly at 1:00 pm CDT Getting the

More information

Cyber Resilience Implementing the Right Strategy. Grant Brown Security specialist, CISSP @TheGrantBrown

Cyber Resilience Implementing the Right Strategy. Grant Brown Security specialist, CISSP @TheGrantBrown Cyber Resilience Implementing the Right Strategy Grant Brown specialist, CISSP @TheGrantBrown 1 2 Network + Technology + Customers = $$ 3 Perfect Storm? 1) Increase in Bandwidth (extended reach) 2) Available

More information

MANAGING Cybersecurity Risk AND DISCLOSURE OBLIGATIONS

MANAGING Cybersecurity Risk AND DISCLOSURE OBLIGATIONS MANAGING Cybersecurity Risk AND DISCLOSURE OBLIGATIONS RRD Donnelley SEC Hot Topics Institute May 21, 2014 1 MANAGING CYBERSECURITY RISK AND DISCLOSURE OBLIGATIONS Patrick J. Schultheis Partner Wilson

More information

Remarks by Thomas J. Curry Comptroller of the Currency Before the New England Council Boston, Massachusetts May 16, 2014

Remarks by Thomas J. Curry Comptroller of the Currency Before the New England Council Boston, Massachusetts May 16, 2014 Remarks by Thomas J. Curry Comptroller of the Currency Before the New England Council Boston, Massachusetts May 16, 2014 It s a pleasure to be with you back home in Boston. I was here just six weeks ago

More information

Cybersecurity The role of Internal Audit

Cybersecurity The role of Internal Audit Cybersecurity The role of Internal Audit Cyber risk High on the agenda Audit committees and board members are seeing cybersecurity as a top risk, underscored by recent headlines and increased government

More information

www.sharedassessments.org 2015 The Shared Assessments Program - All Rights Reserved 2

www.sharedassessments.org 2015 The Shared Assessments Program - All Rights Reserved 2 The Significance of Information Security and Privacy Controls on Law Firms as Third Party Service Providers and Collaborative Opportunities for Resolution April 2015 Abstract As regulators increase pressure

More information

Cybersecurity Workshop

Cybersecurity Workshop Cybersecurity Workshop February 10, 2015 E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. 150 West Main Street, Suite 2100 Norfolk, VA 23510 (757) 624-3153

More information

Information Technology

Information Technology Information Technology Information Technology Session Structure Board of director actions Significant and emerging IT risks Practical questions Resources Compensating Controls at the Directorate Level

More information

Into the cybersecurity breach

Into the cybersecurity breach Into the cybersecurity breach Tim Sanouvong State Sector Cyber Risk Services Deloitte & Touche LLP April 3, 2015 Agenda Setting the stage Cyber risks in state governments Cyber attack vectors Preparing

More information

DON T BE A VICTIM! IS YOUR ORGANIZATION PROTECTED FROM CYBERSECURITY THREATS?

DON T BE A VICTIM! IS YOUR ORGANIZATION PROTECTED FROM CYBERSECURITY THREATS? HEALTH WEALTH CAREER DON T BE A VICTIM! IS YOUR ORGANIZATION PROTECTED FROM CYBERSECURITY THREATS? FREEMAN WOOD HEAD OF MERCER SENTINEL NORTH AMERICA GREGG SOMMER HEAD OF OPERATIONAL RISK ASSESSMENTS MERCER

More information

CYBER SECURITY. ADVISORY SERVICES Governance Risk & Compliance. Shemrick Rodney IT Specialist Consultant Antigua & St. Kitts

CYBER SECURITY. ADVISORY SERVICES Governance Risk & Compliance. Shemrick Rodney IT Specialist Consultant Antigua & St. Kitts CYBER SECURITY ADVISORY SERVICES Governance Risk & Compliance Shemrick Rodney IT Specialist Consultant Antigua & St. Kitts The Financial Services Industry at Crossroads: Where to From Here? WELCOME What

More information

WILLIS SPECIAL REPORT: 10K DISCLOSURES HOW RETAIL COMPANIES DESCRIBE THEIR CYBER LIABILITY EXPOSURES

WILLIS SPECIAL REPORT: 10K DISCLOSURES HOW RETAIL COMPANIES DESCRIBE THEIR CYBER LIABILITY EXPOSURES WILLIS SPECIAL REPORT: 10K DISCLOSURES HOW RETAIL COMPANIES DESCRIBE THEIR CYBER LIABILITY EXPOSURES This special report examines the cyber risk disclosures made by the retail sector of the Fortune 1000.

More information

Five keys to a more secure data environment

Five keys to a more secure data environment Five keys to a more secure data environment A holistic approach to data infrastructure security Compliance professionals know better than anyone how compromised data can lead to financial and reputational

More information

www.pwc.com Cybersecurity and Privacy Hot Topics 2015

www.pwc.com Cybersecurity and Privacy Hot Topics 2015 www.pwc.com Cybersecurity and Privacy Hot Topics 2015 Table of Contents Cybersecurity and Privacy Incidents are on the rise Executives and Boards are focused on Emerging Risks Banking & Capital Markets

More information

Integrating Cybersecurity with Emergency Operations Plans (EOPs) for Institutions of Higher Education (IHEs)

Integrating Cybersecurity with Emergency Operations Plans (EOPs) for Institutions of Higher Education (IHEs) Integrating Cybersecurity with Emergency Operations Plans (EOPs) for Institutions of Higher Education (IHEs) Amy Banks, U.S. Department of Education, Center for School Preparedness, Office of Safe and

More information

Continuous Network Monitoring

Continuous Network Monitoring Continuous Network Monitoring Eliminate periodic assessment processes that expose security and compliance programs to failure Continuous Network Monitoring Continuous network monitoring and assessment

More information

Integrating Cybersecurity with Emergency Operations Plans (EOPs) for K-12 Education

Integrating Cybersecurity with Emergency Operations Plans (EOPs) for K-12 Education Integrating Cybersecurity with Emergency Operations Plans (EOPs) for K-12 Education Amy Banks, U.S. Department of Education, Center for School Preparedness, Office of Safe and Healthy Students Hamed Negron-Perez,

More information

Cyber Security Auditing for Credit Unions. ACUIA Fall Meeting October 7-9, 2015

Cyber Security Auditing for Credit Unions. ACUIA Fall Meeting October 7-9, 2015 Cyber Security Auditing for Credit Unions ACUIA Fall Meeting October 7-9, 2015 Topics Introduction Cyber Security Auditing Program Discuss an effective and compliant Cyber Security Auditing Program from

More information

Cybersecurity: Protecting Your Business. March 11, 2015

Cybersecurity: Protecting Your Business. March 11, 2015 Cybersecurity: Protecting Your Business March 11, 2015 Grant Thornton. All LLP. rights All reserved. rights reserved. Agenda Introductions Presenters Cybersecurity Cybersecurity Trends Cybersecurity Attacks

More information

Appendix J: Strengthening the Resilience of Outsourced Technology Services

Appendix J: Strengthening the Resilience of Outsourced Technology Services Appendix J: Strengthening the Resilience of Outsourced Technology Services Background and Purpose Many financial institutions depend on third-party service providers to perform or support critical operations.

More information

www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit March 6, 2014 (4:30-5:30) Draft v8 2-25-14

www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit March 6, 2014 (4:30-5:30) Draft v8 2-25-14 www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit (4:30-5:30) Draft v8 2-25-14 Common Myths 1. You have not been hacked. 2. Cyber security is about keeping the

More information

Current Trends in Cyber Crime & Payments Fraud cliftonlarsonallen.com

Current Trends in Cyber Crime & Payments Fraud cliftonlarsonallen.com Current Trends in Cyber Crime & Payments Fraud cliftonlarsonallen.com Our perspective CliftonLarsonAllen Started in 1953 with a goal of total client service Today, industry specialized CPA and Advisory

More information

Remarks by. Thomas J. Curry Comptroller of the Currency. Before a Meeting of CES Government. Washington, DC April 16, 2014

Remarks by. Thomas J. Curry Comptroller of the Currency. Before a Meeting of CES Government. Washington, DC April 16, 2014 Remarks by Thomas J. Curry Comptroller of the Currency Before a Meeting of CES Government Washington, DC April 16, 2014 Good afternoon. It s a pleasure to finally be here with you. I had very much hoped

More information

Franchise Data Compromise Trends and Cardholder. December, 2010

Franchise Data Compromise Trends and Cardholder. December, 2010 Franchise Data Compromise Trends and Cardholder Security Best Practices December, 2010 Franchise Data Security Agenda Cardholder Data Compromise Overview Breach Commonalities Hacking Techniques Franchisee

More information

Cybersecurity and Data Security

Cybersecurity and Data Security Cybersecurity and Data Security Richard Cook Director IT Audit & Security May 2015 Elliott Davis Decosimo, PLLC Cybersecurity and Data Security This material was used by Elliott Davis Decosimo during an

More information

Data Breaches and Cyber Risks

Data Breaches and Cyber Risks Data Breaches and Cyber Risks Carolinas Credit Union League Leadership Conference Presented by: Ken Otsuka Business Protection Risk Management CUNA Mutual Group CUNA Mutual Group Proprietary Reproduction,

More information

Remarks by. Thomas J. Curry. Comptroller of the Currency. Before the. Chicago. November 7, 2014

Remarks by. Thomas J. Curry. Comptroller of the Currency. Before the. Chicago. November 7, 2014 Remarks by Thomas J. Curry Comptroller of the Currency Before the 10 th Annual Community Bankers Symposium Chicago November 7, 2014 Good morning, it s a pleasure to be here today and to have this opportunity

More information

Defending Against Data Beaches: Internal Controls for Cybersecurity

Defending Against Data Beaches: Internal Controls for Cybersecurity Defending Against Data Beaches: Internal Controls for Cybersecurity Presented by: Michael Walter, Managing Director and Chris Manning, Associate Director Protiviti Atlanta Office Agenda Defining Cybersecurity

More information

Top 10 Baseline Cybersecurity Controls Banks Aren't Doing

Top 10 Baseline Cybersecurity Controls Banks Aren't Doing Top 10 Baseline Cybersecurity Controls Banks Aren't Doing SECURE BANKING SOLUTIONS 1 Contact Information Chad Knutson President, SBS Institute Senior Information Security Consultant Masters in Information

More information

GALLAGHER CYBER LIABILITY PRACTICE. Tailored Solutions for Cyber Liability and Professional Liability

GALLAGHER CYBER LIABILITY PRACTICE. Tailored Solutions for Cyber Liability and Professional Liability GALLAGHER CYBER LIABILITY PRACTICE Tailored Solutions for Cyber Liability and Professional Liability Are you exposed to cyber risk? Like nearly every other business, you have probably capitalized on the

More information

Information Technology. A Current Perspective on Risk Management

Information Technology. A Current Perspective on Risk Management Information Technology A Current Perspective on Risk Management Topics Covered Information Security Program Common Examination Findings Existing and Emerging Risks ACH/Wire Fraud and Corporate Account

More information

CYBERSECURITY & EXPECTATIONS FOR INDEPENDENT GROCERS

CYBERSECURITY & EXPECTATIONS FOR INDEPENDENT GROCERS October 21, 2015 CYBERSECURITY & EXPECTATIONS FOR INDEPENDENT GROCERS Cerone F. Cy Sturdivant Managing Consultant csturdivant@bkd.com 1 TO RECEIVE CPE CREDIT Participate in entire webinar Answer polls

More information

Cybersecurity Awareness

Cybersecurity Awareness Awareness Objectives Discuss the Evolution of Data Security Define Review Threat Environment Discuss Information Security Program Enhancements for Cyber Risk Threat Intelligence Third-Party Management

More information

Payment Card Industry Data Security Standard Training. Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc.

Payment Card Industry Data Security Standard Training. Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc. Payment Card Industry Data Security Standard Training Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc. March 27, 2012 Agenda Check-In 9:00-9:30 PCI Intro and History

More information

Cybersecurity. WBA Bank Executives Conference February 2 4, 2015 Milwaukee, WI

Cybersecurity. WBA Bank Executives Conference February 2 4, 2015 Milwaukee, WI Cybersecurity WBA Bank Executives Conference February 2 4, 2015 Milwaukee, WI Dr. Kevin Streff Founder: Secure Banking Solutions, LLC www.protectmybank.com Goals Understand IT cybersecurity law and regulation

More information

Cyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day

Cyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day Lloyd s of London (Reuters) May 8, 2000 Cyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day Rivers Casino, Pittsburgh November 17, 2014

More information

State of Security Survey GLOBAL FINDINGS

State of Security Survey GLOBAL FINDINGS 2011 State of Security Survey GLOBAL FINDINGS CONTENTS Introduction... 4 Methodology... 6 Finding 1: Cybersecurity is important to business... 8 Finding 2: The drivers of security are changing... 10 Finding

More information

CYBERSECURITY BEST PRACTICES FOR SMALL AND MEDIUM PENNSYLVANIA UTILITIES. second edition

CYBERSECURITY BEST PRACTICES FOR SMALL AND MEDIUM PENNSYLVANIA UTILITIES. second edition CYBERSECURITY BEST PRACTICES FOR SMALL AND MEDIUM PENNSYLVANIA UTILITIES second edition The information provided in this document is presented as a courtesy to be used for informational purposes only.

More information

Who s Regulating Whom & What are the Requirements: Banks As Payment Services Providers

Who s Regulating Whom & What are the Requirements: Banks As Payment Services Providers Who s Regulating Whom & What are the Requirements: Banks As Payment Services Providers Tony DaSilva, AAP, CISA S&R Senior Technical Expert Federal Reserve Bank of Atlanta Disclaimer The opinions expressed

More information

Diane Honeycutt National Institute of Standards and Technology (NIST) 100 Bureau Drive, Stop 8930 Gaithersburg, MD 20899

Diane Honeycutt National Institute of Standards and Technology (NIST) 100 Bureau Drive, Stop 8930 Gaithersburg, MD 20899 Submitted via email: cyberframework@nist.gov April 8, 2013 Diane Honeycutt National Institute of Standards and Technology (NIST) 100 Bureau Drive, Stop 8930 Gaithersburg, MD 20899 Re: Developing a Framework

More information

Cyber R &D Research Roundtable

Cyber R &D Research Roundtable Cyber R &D Research Roundtable 2 May 2013 N A T I O N A L S E C U R I T Y E N E R G Y & E N V I R O N M E N T H E A L T H C Y B E R S E C U R I T Y Changing Environment Rapidly Evolving Threat Changes

More information

Risky Business. Is Your Cybersecurity in Cruise Control? ISACA Austin Chapter Meeting May 5, 2015

Risky Business. Is Your Cybersecurity in Cruise Control? ISACA Austin Chapter Meeting May 5, 2015 Risky Business Is Your Cybersecurity in Cruise Control? ISACA Austin Chapter Meeting May 5, 2015 What We ll Cover About Me Background The threat Risks to your organization What your organization can/should

More information

New York State Department of Financial Services. Report on Cyber Security in the Banking Sector

New York State Department of Financial Services. Report on Cyber Security in the Banking Sector New York State Department of Financial Services Report on Cyber Security in the Banking Sector Governor Andrew M. Cuomo Superintendent Benjamin M. Lawsky May 2014 I. Introduction Cyber attacks against

More information

The FDIC s Supervisory Approach to Cyberattack Risks

The FDIC s Supervisory Approach to Cyberattack Risks Why We Did The Evaluation Executive Summary Information is one of a financial institution s (FI) most important assets. Protection of information is critical to establishing and maintaining trust between

More information

VENDOR MANAGEMENT. General Overview

VENDOR MANAGEMENT. General Overview VENDOR MANAGEMENT General Overview With many organizations outsourcing services to other third-party entities, the issue of vendor management has become a noted topic in today s business world. Vendor

More information

ASSUMING A STATE OF COMPROMISE: EFFECTIVE DETECTION OF SECURITY BREACHES

ASSUMING A STATE OF COMPROMISE: EFFECTIVE DETECTION OF SECURITY BREACHES ASSUMING A STATE OF COMPROMISE: EFFECTIVE DETECTION OF SECURITY BREACHES Leonard Levy PricewaterhouseCoopers LLP Session ID: SEC-W03 Session Classification: Intermediate Agenda The opportunity Assuming

More information

Application Intrusion Detection

Application Intrusion Detection Application Intrusion Detection Drew Miller Black Hat Consulting Application Intrusion Detection Introduction Mitigating Exposures Monitoring Exposures Response Times Proactive Risk Analysis Summary Introduction

More information

Maritime Insurance Cyber Security Framing the Exposure. Tony Cowie May 2015

Maritime Insurance Cyber Security Framing the Exposure. Tony Cowie May 2015 Maritime Insurance Cyber Security Framing the Exposure Tony Cowie May 2015 Table of Contents / Agenda What is cyber risk? Exposures - Should we be concerned about "Cyber"? Is Cyber covered under a Marine

More information

SECURING YOUR SMALL BUSINESS. Principles of information security and risk management

SECURING YOUR SMALL BUSINESS. Principles of information security and risk management SECURING YOUR SMALL BUSINESS Principles of information security and risk management The challenge Information is one of the most valuable assets of any organization public or private, large or small and

More information

Client Update NFA Adopts Interpretive Notice Regarding Information Systems Security Programs

Client Update NFA Adopts Interpretive Notice Regarding Information Systems Security Programs 1 Client Update NFA Adopts Interpretive Notice Regarding Information Systems Security Programs NEW YORK Byungkwon Lim blim@debevoise.com Gary E. Murphy gemurphy@debevoise.com Michael J. Decker mdecker@debevoise.com

More information

CYBERSECURITY BEST PRACTICES FOR SMALL AND MEDIUM PENNSYLVANIA UTILITIES

CYBERSECURITY BEST PRACTICES FOR SMALL AND MEDIUM PENNSYLVANIA UTILITIES CYBERSECURITY BEST PRACTICES FOR SMALL AND MEDIUM PENNSYLVANIA UTILITIES The information provided in this document is presented as a courtesy to be used for informational purposes only. This information

More information

THE NEW REALITY OF RISK CYBER RISK: TRENDS AND SOLUTIONS

THE NEW REALITY OF RISK CYBER RISK: TRENDS AND SOLUTIONS THE NEW REALITY OF RISK CYBER RISK: TRENDS AND SOLUTIONS Read the Marsh Risk Management Research Briefing: Cyber Risks Extend Beyond Data and Privacy Exposures To access the report, visit www.marsh.com.

More information

2015 CEO & Board University Taking Your Business Continuity Plan To The Next Level. Tracy L. Hall, MBCP

2015 CEO & Board University Taking Your Business Continuity Plan To The Next Level. Tracy L. Hall, MBCP 2015 CEO & Board University Taking Your Business Continuity Plan To The Next Level Tracy L. Hall, MBCP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2015 Wolf & Company, P.C.

More information

The Emergence of the ISO in Community Banking Patrick H. Whelan CISA IT Security & Compliance Consultant

The Emergence of the ISO in Community Banking Patrick H. Whelan CISA IT Security & Compliance Consultant THE MARKET LEADER IN IT, SECURITY AND COMPLIANCE SERVICES FOR COMMUNITY FINANCIAL INSTITUTIONS The Emergence of the ISO in Community Banking Patrick H. Whelan CISA IT Security & Compliance Consultant Agenda

More information

Vendor Management. Outsourcing Technology Services

Vendor Management. Outsourcing Technology Services Vendor Management Outsourcing Technology Services Objectives Board and Senior Management Responsibilities Risk Management Program Risk Assessment Service Provider Selection Contracts Ongoing Monitoring

More information

Cybersecurity Risks, Regulation, Remorse, and Ruin

Cybersecurity Risks, Regulation, Remorse, and Ruin Financial Planning Association of Michigan 2014 Fall Symposium Cybersecurity Risks, Regulation, Remorse, and Ruin Shane B. Hansen shansen@wnj.com (616) 752-2145 October 23, 2014 Copyright 2014 Warner Norcross

More information

National Security & Homeland Security Councils Review of National Cyber Security Policy. Submission of the Business Software Alliance March 19, 2009

National Security & Homeland Security Councils Review of National Cyber Security Policy. Submission of the Business Software Alliance March 19, 2009 National Security & Homeland Security Councils Review of National Cyber Security Policy Submission of the Business Software Alliance March 19, 2009 Question # 1: What is the federal government s role in

More information

Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks

Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks Thank you for joining us. We have a great many participants in today s call. Your phone is currently

More information

INFOCUS. Five Questions to Guide Cybersecurity Risk Management BY EARL CRANE

INFOCUS. Five Questions to Guide Cybersecurity Risk Management BY EARL CRANE promontory.com INFOCUS JUNE 3, 2015 BY EARL CRANE Five Questions to Guide Cybersecurity Risk Management The quick transformation of cybersecurity risk management from obscure specialty to top-of-thehouse

More information

Compliance Guide ISO 27002. Compliance Guide. September 2015. Contents. Introduction 1. Detailed Controls Mapping 2.

Compliance Guide ISO 27002. Compliance Guide. September 2015. Contents. Introduction 1. Detailed Controls Mapping 2. ISO 27002 Compliance Guide September 2015 Contents Compliance Guide 01 02 03 Introduction 1 Detailed Controls Mapping 2 About Rapid7 7 01 INTRODUCTION If you re looking for a comprehensive, global framework

More information

CYBER SECURITY AND RISK MANAGEMENT. An Executive level responsibility

CYBER SECURITY AND RISK MANAGEMENT. An Executive level responsibility CYBER SECURITY AND RISK MANAGEMENT An Executive level responsibility Cyberspace poses risks as well as opportunities Cyber security risks are a constantly evolving threat to an organisation s ability to

More information

White Paper on Financial Institution Vendor Management

White Paper on Financial Institution Vendor Management White Paper on Financial Institution Vendor Management Virtually every organization in the modern economy relies to some extent on third-party vendors that facilitate business operations in a wide variety

More information

Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties

Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties Pamela Passman President and CEO Center for Responsible Enterprise And Trade (CREATe.org)

More information

October 24, 2014. Mitigating Legal and Business Risks of Cyber Breaches

October 24, 2014. Mitigating Legal and Business Risks of Cyber Breaches October 24, 2014 Mitigating Legal and Business Risks of Cyber Breaches AGENDA Introductions Cyber Threat Landscape Cyber Risk Mitigation Strategies 1 Introductions 2 Introductions To Be Confirmed Title

More information

Adopting a Cybersecurity Framework for Governance and Risk Management

Adopting a Cybersecurity Framework for Governance and Risk Management The American Hospital Association s Center for Healthcare Governance 2015 Fall Symposium Adopting a Cybersecurity Framework for Governance and Risk Management Jim Giordano Vice Chairman & Chair of Finance

More information

Report on CAP Cybersecurity November 5, 2015

Report on CAP Cybersecurity November 5, 2015 Agenda Number 7. Report on CAP Cybersecurity November 5, 2015 Phil Cook CISSP, CISM Manager, Information Technologies Risk #1 External Attacks PR 81 Protect and secure CAP's Information Technology assets

More information

CYBER & PRIVACY INSURANCE FOR FINANCIAL INSTITUTIONS

CYBER & PRIVACY INSURANCE FOR FINANCIAL INSTITUTIONS CYBER & PRIVACY INSURANCE FOR FINANCIAL INSTITUTIONS 1 As regulators around the world move to tighten compliance requirements for financial institutions, improvement in cyber security controls will become

More information

About the Survey Respondents

About the Survey Respondents SPECIAL REPORT Information Security & Cyber Liability Risk Management The Second Annual Survey of Enterprise-wide Cyber Risk Management Practices in Europe February 2013 SPECIAL REPORT Information Security

More information