WASHINGTON—The Federal Financial Institutions Examination Council (FFIEC) plans to issue a self-assessment tool this year to assist institutions in evaluating their cybersecurity risk and their risk management capabilities.
The FFIEC made the announcement as it provided an overview of its cybersecurity priorities for the remainder of 2015.
The priorities include seven workstreams that stem from last year’s FFIEC pilot assessment of cybersecurity readiness at more than 500 financial institutions.
In addition to the self-assessment tool, the FFIEC said it will also enhance its incident analysis, crisis management, training, and policy development and expand the council’s focus on technology service providers’ cybersecurity preparedness.
The FFIEC, as well, will continue to “improve its collaboration with other agencies and communicate on the importance of cybersecurity awareness and best practices among financial industry participants and regulators,” the council stated in a release.