Xamin: Growing Gap between Cybersecurity Guidelines and Initiatives Places Unfair Burdens on Financial Institution Leaders
WHAT: In response to the growing number of cyberattacks within the financial services industry, the Federal Financial Institutions Examination Council (FFIEC) developed its Cybersecurity Assessment Tool to help financial institutions better identify risks and determine cybersecurity preparedness.
While the tool serves as a comprehensive resource, the reality is that it fails to provide specific, clear direction for financial institutions’ senior management to follow. The onus of developing a strategy to address cybersecurity threats and mitigate them then falls to financial institutions’ C-level leadership and Boards of Directors, who may not have the time and bandwidth required to do so. Xamin is available to discuss the starting point for financial institution leaders to fortify IT systems and protect infrastructures, as well as provide expert guidance on:
Strategic evaluation of existing framework and IT environment to assess existing weaknesses;
Development and validation of proactive security strategies;
Implementation of an ongoing vulnerability verification and mitigation; and
Fundamental components to adapting with evolving cybersecurity risks.
WHO: Matthew Gardner is sales manager of Xamin, Inc. With nearly 30 years of IT expertise, he leveragesextensive knowledge of security systems and network technology standards and trends to consult with financial institutions on how to most appropriately safeguard critical data and information from existing vulnerabilities and evolving cyber threats. Gardner also has extensive experience in managing teams across the insurance, education, healthcare and e-commerce industries.