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Financial Services Sector must remain resilient to cyber attack
Financial Service
Managing Cyber Risk Across Financial sector's Digital Attack Surface
Put cyber risk on the executive agenda.
Use an enterprise risk management approach to articulate and share cyber risk related to business operations, customers and reputation.
Educate the executives
Workshops with executives to increase cyber knowledge. Use case studies and incidents reported to highlight potential risks and help executives link these risks to their business.
Management information in useful formats
Present a simple dashboard to executives that illustrates what is good, what needs improvement and what is inadequate.
FINANCIAL DIGITAL LANDSCAPE HAS EVOLVED
Understand who could target your business, why, and how.
Understand what data is valuable to which malicious actors. Creating profiles for groups such as hostile nation states, organized criminals, activists, and amateur hackers helps understand their goals and capabilities.
Be aware of your vulnerabilities
Know your weaknesses
Know your digital footprint
Prioritize and fix
Not all vulnerabilities can be fixed
No need to re-invent the wheel
Ensure there is a link between risk and controls.
Controls exist to mitigate risk. Create metrics and indicators for critical controls to understand whether they are functioning effectively. Without understanding the effectiveness of controls, it is difficult to know if risks are being managed.