Financial services are consistently the target of threats and attacks.
Finance professionals need fundamental cybersecurity training to protect better and defend client data. As more transactions occur through mobile applications and virtual banks, security is critical to sustaining a client’s overall positive user experience and, most importantly, trust.
Training business executives, compliance and audit professionals, branch managers, tellers, and all others on basic cybersecurity controls as it applies to their position can help better preserve confidentiality and maintain the integrity of client data.
Clients and organizations are at greater risk for IT and cybersecurity breaches during the COVID-19 pandemic. Therefore, an effective cybersecurity risk management strategy is essential for business operations in the current environment and future preparedness.
This course covers fundamental cybersecurity concepts and skills relevant to the day-to-day responsibilities of a variety of finance professionals.
The Federal Financial Institutions Examination Council (FFIEC) is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. The level of cybersecurity inherent risk varies significantly across financial institutions. It is essential for management to understand the financial institution’s inherent risk to cybersecurity threats and vulnerabilities when assessing cybersecurity preparedness.
The areas of cyber importance include Risk Management and Oversight, Threat Intelligence and Collaboration, Cybersecurity Controls, External Dependency Management, and Cyber Incident Management and Resilience. The protection of US residents’ data is regulated by laws enacted on both the national and state levels. Federal laws include GLBA, HIPAA, FTC, DPPA, FCRA, COPPA, TCPA, etc. States have their privacy laws, e.g., California Consumer Privacy Act (CCPA), Protections for Consumer Data Privacy, Florida Regulation of Trade, Commerce, Investments, Solicitations, Biometric Information Privacy Act, etc.