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FFIEC Issues Cybersecurity Assessment FAQs
Wednesday, October 19, 2016 6:45 AM

The Federal Financial Institutions Examination Council (FFIEC) has issued frequently asked questions related to the Cybersecurity Assessment Tool (Assessment). According to NCUA's press release, the FAQ guide answers questions and clarifies points in the assessment and supporting materials based on questions received by the FFIEC members over the course of the last year. 

The FAQs answer questions such as:

  • Why did the FFIEC release the Assessment?
  • Does my institution have to use the Assessment?
  • What is the value of the Assessment to management?
  • How do I determine my institution's Inherent Risk Profile?
  • How do I determine my institution's Cybersecurity Maturity?
  • Can the Assessment be used as part of my institution's oversight of third parties?
  • How are FFIEC member agencies using the Assessment?

The 7-page document contains a total of 18 FAQs.