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FFIEC cybersecurity priorities include tools for institutions
The Federal Financial Institutions Examination Council on Tuesday gave an overview of its 2015 cybersecurity priorities, which include providing a cybersecurity self-assessment tool to help financial institutions evaluate their cybersecurity risk.
The FFIEC said its lists of priorities include seven "workstreams" that came out of last year's pilot program of cybersecurity readiness at more than 500 financial institutions.
Along with providing a cybersecurity self-assessment tool, the council's priorities include:
- incident analysis in which FFIEC members will better their processes for sharing information with each other;
- crisis management, including the testing of emergency systems in the event of a cyber-incident;
- training programs for member staff on cyber threats;
- policy development to reflect current trends in cyber threats and system vulnerabilities;
- an increased focus on technology service provider strategies; and
- better collaboration with law enforcement and intelligence agencies.
The FFIEC includes representatives from the Federal Reserve Board, FDIC, NCUA, the Office of the Comptroller of the Currency, CFPB and the State Liaison Committee. NAFCU is working with its members to develop tools and resources for credit union cybersecurity.
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