ffiec cat maturity levels

The CAT is an organizational risk management framework that allows institutions to quantify and measure their risk exposure and identify the maturity of current controls. The CAT consists of two parts: the Inherent Risk Profile and the Cybersecurity Maturity. The FFIEC Cybersecurity Assessment, launched in 2015, was created to help organizations adopt cybersecurity best practices for greater security. If executives and boards are being asked to be part of the solution, then teams may have some momentum to advance their cause. What is an FFIEC Cyber Assessment Tool (CAT)? Institutions use the FFIEC Cybersecurity Assessment Tool (CAT) to test their current level of risk as well as the maturity of their security strategies. The inherent risk profile identifies the amount of risk posed to a bank by the types, volume, and complexity of the bank’s technologies and connections, Page 8/34. The FFIEC Cybersecurity Assessment Tool measures the maturity of your financial institution’s information security program. We can help! In response to high threat levels, the Federal Financial Institution Examination Council (FFIEC) has provided firms with a Cybersecurity Assessment Tool (CAT), a framework to assess a financial institution's cybersecurity preparedness. The FFIEC CAT (Cybersecurity Assessment Tool) provides financial institutions with a repeatable and measurable process that enterprises can use to gauge cybersecurity preparedness. The Cybersecurity Maturity assessment includes domains, assessment factors, components, and individual declarative statements across five maturity levels to identify specific controls and practices that are in place; however, the CAT is not designed to identify an overall cybersecurity maturity level and instead allows companies to determine the maturity level for each domain. The framework has two focuses. To help financial institutions assess their cybersecurity preparedness and identify their risks, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool (CAT) in June 2015. Its risk assessment also uses a 5-point scale, but the maturity appraisal requires yes or no answers to 494 statements about specific activities, services, and products. Proving compliance with the FFIEC is determined based on your organization’s cybersecurity maturity levels and posture. Cybersecurity Maturity The Assessment’s second part is Cybersecurity Maturity, designed to help management measure the institution’s level of risk and corresponding controls. Companies can use the assessment to determine their risk level, as well as their maturity level (a measure of cybersecurity preparedness). The levels range from baseline to innovative. The CAT consists of two parts: the Inherent Risk Profile and the Cybersecurity Maturity. Part I: FFIEC CAT -Background, Overview, Maturity •What is it, and why you should you care •Cybersecurity Maturity according to the FFIEC Part II: FFIEC CAT –The Assessment •What does it look like, and how do you use it Part III: FFIEC CAT and Splunk •What Domains and controls does Splunk map to specifically •Explanation of Splunk Capabilities as they relate to the FFIEC CAT In a perfect world, your preparedness would be Innovative for all of the components. It can be a daunting exercise to complete. The Federal Financial Institutions Examination Council (FFIEC) Cybersecurity Assessment Tool (CAT) helps financial institutions identify their risks and determine their cybersecurity preparedness. Controls” for each of the declarative questions within a maturity level. The tool is a baseline and it’s up to the individual organization to identify its risk appetite and establish its desired level of maturity. The FFIEC cannot spell that out for each FI, so the CAT helps FIs level set risks versus controls and determine areas for improvement. Downloads. The CAT is based on a number of declarative statements that address similar concepts across FFIEC-defined maturity levels. FFIEC CAT Assessment. In June of this year, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Self Assessment Tool (CAT) to help institutions determine their risks and evaluate their preparedness. Your compliance status across the security domains Cybersecurity is an area of growing concern financial... Advance their cause practices for greater security evaluating to the correct level can use the paste values. Short and how to address those gaps a tool, it was released June. 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