Proactive Cyber Management for Financial Services

The financial services industry was built upon security and privacy. As cyber-attacks become more sophisticated, a strong vault and a guard at the door won’t offer any protection against phishing, DDoS attacks and IT infrastructure breaches.
In this new age of cyber warfare, financial services institutions must understand the entire threat landscape and employ the right people, technologies and processes to ensure business continuity and proper risk management.

Prevent unarmed robbery

The financial services industry has undergone massive upheaval in recent years. Mobile banking, cloud computing, and new compliance mandates for vendor management have escalated the information-risk profile of most financial services institutions. The Financial Industry Regulatory Authority (FINRA) has published guidance on cybersecurity practices that broker-dealers, investment firms and advisors should adopt.

To compete in this evolving marketplace, financial services institutions face the overwhelming task of securing data that often resides outside their walls. Basic compliance is not enough. To truly secure data, today’s financial institutions must go beyond compliance to:

  • Define risk
  • Meet compliance mandates
  • Assess the strengths of IT controls
  • Identify vulnerabilities
  • Improve employee training
  • Conduct business impact analysis
  • Test security from within the organization
  • Prepare for and resolve security incidents quickly

Coalfire’s audit, assessment, and advisory services plus cloud-based automation solutions help financial institutions balance their compliance and risk management programs with improved business performance. Our flexible risk management and compliance services allow organizations to more efficiently adapt to changing regulations, enhance data quality, and create better operational efficiency.

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