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FFIEC Releases Cybersecurity Assessment Tool for Financial Institutions to Test Cybersecurity Preparedness

Posted on 7/1/2015

The Federal Financial Institutions Examination Council (FFEIC), yesterday announced the release of a free cybersecurity assessment tool to "help institutions identify their risks and determine their cybersecurity preparedness."

The Assessment will consist of two parts: Inherent Risk Profile and Cybersecurity Maturity. The Assessment will first accesses an intuition's risk based profile on five categories: Technologies and Connection Types; Delivery Channels; Online/Mobile Products and Technology Services; Organizational Characteristics; and External Threats. The Assessment then evaluates an institution's cybersecurity maturity in five categories: Cyber Risk Management and Oversight; Threat Intelligence and Collaboration; Cybersecurity Controls; External Dependency Management; and Cyber Incident Management and Resilience.

"The Assessment is based on a 2014 pilot cybersecurity assessment of more than 500 financial institutions."

To read more visit: http://www.ffiec.gov/pdf/cybersecurity/FFIEC_CAT_June_2015_PDF2.pdf

To view the assessment tool visit: http://www.ffiec.gov/pdf/cybersecurity/Cybersecurity%20Assessment%20Tool%20Slides_June_30_2015.pdf



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