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Risk Management

How to Manage Cyber Risk Like a Boss

October 15, 2020 | Posted by Michael Berman
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8 Minute Read

October is National Cybersecurity Awareness Month. Promoted by the U.S. Cybersecurity & Infrastructure Security Agency (CISA), it’s an annual reminder of how organizations—including financial institutions—need to do their part to ensure cyber defenses are strong.

You may not feel like you need a reminder—after all data breaches, including at FIs and their third-party vendors, regularly make the news. Examiners make cybersecurity a high priority.

But just in case, we put together a collection of our top cybersecurity blogs for 2020 to help refresh you on the latest cybersecurity trends and best practices. From enforcement to regulatory insights, our freshest takes on managing cyber risk are all in one place so you can more confidently manage cyber risk at your institution—even if you’re not an IT expert.

Which FI’s Cyber Mismanagement Got Them in Trouble This Year?

Find out so you don’t make the same mistake.

policies for banks

An Ounce of Cyber Prevention is Worth a Pound of Cure

Cybersecurity goes way beyond the IT department. It involves the entire risk management team. Make sure yours is up to the task with these best practices for cybersecurity risk management.

  • When Customers Invite Third-Party Risk
    Risk management, including careful risk assessments and controls, will continue to be an FI's best defense while waiting for fintech regulation to catch up. Make sure your FI’s risk and vendor management platforms have the structure and tools to recognize and assess the risks presented by fintech partnerships—including those initiated by consumers.

What Are the Regulatory Agencies Saying?

In a year of heightened cyberattacks, in part due to the new risks and vulnerabilities introduced by the COVID-19 pandemic, the agencies have offered valuable insights.

 

Want to learn more? 

Register for our upcoming webinar co-presented with ABA, Cyber Risk Management in 2020: What You Need to Know Now to be held on
October 28, 2020 | 2 - 3 PM ET.

 

Michael Berman

Michael Berman

Michael Berman is the founder and CEO of Ncontracts, a leading provider of risk management solutions. His extensive background in legal and regulatory matters has afforded him unique insights into solving operational risk management challenges and drives Ncontracts’ mission to efficiently and effectively manage operational risk.