SBS Presenter: Chad Knutson
Description: In recent years, we have seen a significant amount of new guidance on third-party risk management within financial institutions. FFIEC Cybersecurity Assessments Tool (CAT) encourages financial institutions to expand questioning around third-party risk management practices and suggests more rigorous oversight. Regulators also suggest that the FFIEC CAT can be leverage against Third Parties; not just financial institutions. There has also been discussion that the FFIEC may release a version of CAT for Third Parties to complete.
The FFIEC coined the term “External Dependencies” in CAT guidance. This expands requirements beyond vendors, to include any third-party relationship, including customers. We will explore best practices for Vendor Management, Third Party Risk Management, and Customer Risk Management.
This discussion will help improve your process by reviewing the following:
- Overview of industry breaches
- New regulatory expectations
- Risk Management practices for selecting new products/services
- Risk Management of existing relationships
- Integration of customers into management program
- Lessons learned from failed management programs
Who should attend? Information Security Officer, IT Manager, Risk Officer, Internal Auditor, CFO, and Executives looking to understand the risk around Third Party Management.
Presented in partnership with TTS.
Hacker Hour webinars are a series of free webinars hosted by SBS CyberSecurity. Unlike paid webinars, Hacker Hours are aimed to meet on a monthly basis to discuss cybersecurity issues and trends in an open format. Attendees are encouraged to join the conversation and get their questions answered. SBS will also offer products and services to help financial institutions with these specific issues.