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FFIEC Releases Tool to Help FIs Identify Risks
Wednesday, July 1, 2015 6:40 AM

On Tuesday, the Federal Financial Institutions Examination Council released a tool for helping financial institutions of all sizes identify risks and assess cybersecurity preparedness.

The tool will be updated accordingly as threats, vulnerabilities, and operational environments evolve and contains an overview for institution executives, resources for connection to the FFIEC IT Handbook and the National Institute of Standards and Technology Cybersecurity Framework, and a step-by-step process for using the assessment.

The FFIEC is encouraging financial institutions to comment on the assessment tool through an upcoming Paperwork Reduction Act notice in the Federal Register.

The council also provides a number of other resources intended to help institutions improve their cybersecurity practices.