WASHINGTON—The Conference of State Bank Supervisors (CSBS) has released two new tools aimed at helping nonbank financial services companies improve their cybersecurity posture.
“The Baseline Nonbank Cybersecurity Exam Program and the Enhanced Nonbank Cybersecurity Exam Program are tools used by state examiners nationwide to assess the cyber preparedness of nonbank entities,” the FTC said. “The release of these tools provides these institutions the ability to improve their cybersecurity posture and better prepare for cybersecurity exams conducted by state examiners. A multi-state team of cybersecurity examination experts developed these exam procedures and tools.”
“Supervisory clarity is essential to increasing industry awareness and making our financial system more resilient to cyber-attacks,” said CSBS Senior Vice President of Nonbank Supervision Chuck Cross in a statement. “The Nonbank Cybersecurity Exam Procedures released today provide nonbank institutions additional optional tools to guard against cyber-attacks, data breaches or lapses in management oversight in this crucial area.”
In the coming months, CSBS said it intends to provide additional tools tailored to the needs of smaller nonbank financial institutions.
CSBS also provides nonbanks with a Ransomware Self-Assessment Tool and a Cybersecurity 101 Guide for executives.