Finosec Selected for ICBA ThinkTECH Accelerator

Why Spreadsheets Are Risky for Managing Cybersecurity and Risk Management

by Zach Duke | Jan 24, 2025

In the world of cybersecurity and third-party risk management, spreadsheets have become a popular tool. Institutions often use them for tasks such as tracking exceptions from audits, managing access rights, and conducting risk assessments. Despite their frequency of...

Why Management’s FDICIA Attestation Must Include an Understanding of Access Reviews

by Zach Duke | Dec 17, 2024

For financial institutions subject to FDICIA, the Federal Deposit Insurance Corporation Improvement Act, the annual management attestation is a critical declaration of compliance. It signifies that the institution’s internal controls over financial reporting (ICFR) are effective. One key control to validate is how user access reviews are performed.

The Critical Link Between Third-Party Risk Management (TPRM) and Access Management

by Zach Duke | Nov 7, 2024

As highlighted in a recent article from the Federal Reserve, managing third-party relationships and the access associated with those relationships is a critical component of Third-Party Risk Management (TPRM). The associated access third party vendors have to banking systems is known as Access Management and is foundational for mitigating risks associated with third-party relationships. Access Management may be easy to overlook because it does not always reside with the same person or team as TPRM; making it difficult to provide critical oversight.

With increased regulatory focus, how should institutions be thinking of Access Management? Here are five steps your institution can take today to strengthen your third-party governance.

The Evolving Role of Access Management: What Financial Institutions Need to Know About the New FFIEC Guidance

by Beth Sumner | Oct 30, 2024

With all eyes focused on AI regulations and the sunset of the Cybersecurity Assessment Tool (CAT), the recently released FFIEC Development, Acquisition, and Maintenance (DA&M) has almost slid under the radar. However, this new booklet is a complete rewrite...

FFIEC Authentication Guidance: Are You Meeting the Expectation?

by Zach Duke | Oct 10, 2024

The FFIEC has updated their expectations for access management with the Authentication and Access to Financial Institution Services and Systems Guidance. This guidance expands beyond traditional customer authentication and places a significant emphasis on...

The Critical Foundation of Managing Access to Banking Systems

by Zach Duke | Sep 26, 2024

Managing access to banking systems has become increasingly complex as financial institutions navigate legacy reporting systems, API access, and cloud solutions. These challenges, along with the risks posed by unmanaged systems, emphasize the need for maintaining a...

Finosec Selected for ICBA ThinkTECH Accelerator

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