WASHINGTON–The Federal Financial Institutions Examination Council (FFIEC), of which NCUA is a member, has issued a frequently asked questions (FAQ) guide related to the Cybersecurity Assessment Tool (Assessment).
The FAQ guide answers questions and clarifies points in the Assessment and supporting materials based on questions received by the FFIEC members over the course of the last year.
The FFIEC said its members developed the Assessment to help financial institutions’ management determine their risk profile and determine the institutions’ inherent risks and cybersecurity preparedness.
“The Assessment provides a repeatable and measurable process that financial institutions’ management may use to measure their cybersecurity preparedness over time,” the FFIEC said in a statement. “Use of the tool is voluntary, and financial institution management may choose to use the Assessment or another framework, or another risk assessment process to identify inherent risk and cybersecurity preparedness.
For more info: www.ffiec.gov/cybersercurity.htm
CUToday.info recently featured an NCUA official who provided additional information on the CAT and why and how to use it. That story is here. http://cutoday.ssd.thinkcreativeinternal.net/Fresh-Today/CUNA-OpSS-Tech-Coverage-FFIEC-CAT-Overview