FFIEC Cyber Assessment Tool Services

DIGIGUARD helps community banks, credit unions and financial institutions use the FFIEC Cybersecurity Assessment Tool (CAT) to identify their risk level and determine the maturity of their cybersecurity programs. Considered the industry standard for financial institutions, this comprehensive assessment tool will signal cybersecurity diligence to auditors and examiners. The assessment may help you avoid additional scrutiny arising from cybersecurity gap discovery. Our expert consultants can help you remediate cyber threats and get your organization audit-ready. Here are some of the ways our team can help:

• Complete the FFIEC Cybersecurity Assessment Tool (CAT) with input from all departments
• Prepare cybersecurity reports for compliance auditors and examiners
• Create a custom and comprehensive cybersecurity risk management program
• Develop, update and test cybersecurity policies and procedures
• Manage your cybersecurity risk program with periodic assessment and monitoring
• Perform gap analysis and risk remediation
• Conduct training for employees, departments or management teams
• Present and interpret assessment findings to board or C-level executives

Inherent Risk Profile Assessment

The FFIEC CAT is divided into two main sections. The first section, Inherent Risk Profile, determines an organization's current level of cybersecurity risk. DIGIGUARD consultants will gather information from key personnel and perform an on-site scan and review to measure cyber risk across these five categories:

1. Technologies and connection types – Connections from third parties and ISPs, unsecured connections and internal and outsourced hosting
2. Delivery channels – Websites, web and mobile applications and ATMs
3. Online, mobile and tech services – Payment services and transaction services such as credit cards, wire transfers, person-to-person payments
4. Organizational characteristics – Number of employees, security staff changes, users with elevated security privileges, locations of data centers
5. External threats – The number and type of attacks sustained by an organization

Cybersecurity Maturity Assessment

The second section of the FFIEC CAT is the Cybersecurity Maturity Assessment. Our consultants can enhance compliance monitoring and management to meet cybersecurity and other compliance goals. With expertise in IT and procedural compliance, DIGIGUARD identifies an organization's current cybersecurity preparedness level with information from these five categories:

1. Cyber risk management and oversight – Strategy, policies, risk management program strength, staffing and budgeting of the program, culture, and training
2. Threat intelligence and collaboration – Threat intelligence, monitoring, analyzing, and relationships that facilitate or hinder cyber threat information sharing
3. Cybersecurity controls – Detective, preventive, and corrective controls
4. External dependency management – Oversight and management of third-party relationships and external connections that have access to information and technology assets
5. Cyber incident management resilience – Response to cyber threat events, planning and testing to recover normal operations after a cyberattack

Information Security Services

DIGIGUARD can provide information security roles for smaller banks with limited security resources. Engaging DIGIGUARD to address and fulfill increasing security requirements and expectations may be beneficial for your organization. Our cybersecurity experts can prioritize and address your risk assessment and mitigation needs. We are aware of current threats and industry cybersecurity trends. Here are some of the areas we can help with:

• Information protection – Ensure protection of private information and data with technical and physical cybersecurity controls
• Regulatory compliance – Understand and support key regulations and compliance requirements for financial industry cybersecurity including GLBA and FFIEC, monitor updates and forecasts
• FFIEC CAT proficiency – Demonstrated proficiency with the FFIEC IT Examination Handbook and cybersecurity standards, business continuity planning, IT and information security policies, audit, incident response planning
• Incident response and proactive cybersecurity – Responding to cyber attacks, interacting with legal and insurance investigations, strategic planning for infrastructure, service changes, security controls
• Cybersecurity maintenance and monitoring – Periodic reviews of IT security systems and measures, cybersecurity practices and controls

Contact DIGIGUARD today to learn more about cybersecurity services for your financial institution.