Cyber Risk Management

Develop your integrated cyber security strategy & control framework and respond rapidly to meet regulatory requirements, mitigating today’s fast-evolving risks and threats.

Three steps to elevate cyber risk management

Align cyber risk & regulatory expectations

Compliance with regulatory requirements (NYDFS, GLBA, SEC Cyber security Disclosure, FCA, NIS2, DORA) and industry frameworks (FFIEC, NIST, CRI) are a key obligation, and you also need to prepare for horizontal reviews. Defining and implementing a sustainable cyber program ensures regulatory compliance, supports the management of cyber risks and facilitates alignment with operational resilience frameworks.

Undertake comprehensive risk management

Effective cyber risk management is predicated on the regular evaluation of cyber threats, vulnerabilities and business impact. This demands a robust cyber risk and control assessment methodology that is fully aligned with industry standards.

Prove & report on compliance to all stakeholders

Maintaining trust and confidence across your customers and shareholders is paramount, not least for financial institutions . Regularly measuring the performance of your defenses and controls, and adapting your strategies as required, are key to achieving that goal.

We partner with you to enhance your cyber risk management by:

Understanding heightened your compliance requirements

Increasingly stringent obligations around cyber regulatory compliance, coupled with regulators’ heightened focus on the effectiveness of cyber risk programs and controls, present a very real challenge. To achieve compliance, you need to quickly understand any gaps and implement holistic solutions. We help you identify cyber risk management weaknesses, assess compliance with specific regulations and build, and implement solutions to enhance your cyber program maturity.

Defining your path to regulatory compliance

It is vital that you can efficiently navigate complex and overlapping remediation programs arising from internal audit or regulator examinations. We provide advisory support and benchmarking for remediation, as well as developing roadmaps and building solutions in alignment with industry frameworks.

Building sustainability and scalability into cyber programs

Regulations are evolving to establish closer alignment across international standards, in turn strengthening cyber security protection and resilience globally. However, this requires you to continuously update your cyber programs and adopt emerging technologies, such as AI, to better respond to emerging threats and regulatory requirements. We support you in developing sustainable cyber programs, operating models and control frameworks – ensuring you can meet regulatory expectations while also maintaining scalability and alignment with operational resilience frameworks.

Sub-services

Our cyber resilience offering encompasses the following sub-services:

Cyber regulatory advisory & remediation

Cyber governance risk & compliance

Cyber program & target operating model

Cyber risk and control framework design & implementation

Risk modelling & risk assessment

Cyber control testing

Highlights key insights of the ‘NYDFS Part 500 compliance’ success story

Success Stories

NYDFS Part 500 compliance

Our client wanted to comply with NYDFS Part 500’s requirements on information systems and meet their regulatory deadlines. In partnership, we took the following steps:

Reviewing our client’s cyber security program, placing a heightened focus on key domains covered by NYDFS Part 500
Identifying gaps, prioritizing risks and developing action plans and project roadmaps to remediate risk
Defining a methodology to demonstrate compliance in preparation for the regulator’s review.

Following the completion of this project, our client completed its remediation programme and met the NYDFS’s deadlines.

Highlights key insights of the ‘Cyber risk assessment framework’ success story

Cyber risk assessment framework definition

Our bank client sought our support to build a repeatable cyber risk assessment methodology to maintain compliance with regulations. We worked together with our client across the following areas:

Developing a cyber risk management lifecycle and governance framework
Defining a cyber risk taxonomy and assessment framework in alignment with industry standards
Identifying a list of cyber risk scenarios and evaluating the residual risk and opportunities for improvement.

The client was able to achieve a comprehensive view of both the inherent and residual cyber risks for each of its entities.