Observations from over 500 financial institutions . . .

During the summer of 2014, FFIEC members piloted a cybersecurity assessment at more than 500 community institutions to evaluate the institutions’ preparedness to mitigate cybersecurity risks.

The assessment supplemented regularly scheduled exams and built upon key supervisory expectations contained within existing FFIEC information technology handbooks and other regulatory guidance. The “FFIEC Cybersecurity Assessment General Observations,” released today, provides themes from the assessment and suggests questions that chief executive officers and boards of directors may consider when assessing their institutions’ cybersecurity preparedness.

The observations are located here.  The five page document is a good quick read if you’re wanting to know what your examiners might be asking about when they return.

The above is what we call an “Article Review.”  It is part of our attempt to help our readers find excellent reading materials to back up important technology risk management concepts.  We try not to include articles that are merely news or additional news about mainstream issues.  Instead, we try to highlight articles that our “typical clients” should be sure to read, or that are about concepts “outside the mainstream media.”  infotex does not intend to endorse views representated by the writers of the articles we review, nor do we try to keep our Clients aware of EVERYTHING.  For example, if a particular story concept is being reported upon in many different media sources, infotex usually chooses to ignore the story concept altogether, unless we can find a “unique take” on the story concept.