http://www.bankinfosecurity.com/ffiec-cyber-assessments-what-to-expect-a-6831
By Tracy Kitten
Bank Info Security
May 12, 2014
The Federal Financial Institutions Examination Council's new cybersecurity
assessments for community banking institutions will be incorporated into
the usual IT examination process, regulators say. Industry associations
and analysts say banking leaders should be preparing for more stringent
oversight of cybersecurity awareness and initiatives.
A new work program and assessment tool for cybersecurity will be used in
banking institutions' regularly scheduled IT exams, says Stephanie
Collins, spokeswoman for the Office of the Comptroller of the Currency,
one of the banking agencies that's part of the FFIEC.
"[This] will allow us to develop a baseline assessment across the sector
of how they are managing cybersecurity risks," she says. "In order to
ensure that we comprehensively assess the cybersecurity environment in
which financial institutions operate, we also plan to involve a number of
the most critical technology service providers."
On May 7 and 8, the FFIEC and the Office of the Comptroller of Currency
announced plans to launch a pilot program for new cybersecurity
assessments by the end of this year (see FFIEC Plans Cybersecurity
Assessments).
[...]
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