With the FFIEC Cybersecurity Assessment Tool (CAT) being sunset, financial institutions are evaluating their next move. Finosec’s modernized Cyber Assessment Tool offers a streamlined alternative that builds on the foundation of your existing work, without starting from scratch. Step 1 of transitioning to the Finosec CAT focused on modernizing inherent risk by streamlining and updating the inherent risk questions you’re familiar with. Step 2 of this journey is all about documenting your information security controls, and we’ve built this phase to be both intelligent and banking-specific.
A Seamless Transition: Powered by Regi Ranger
One of the most common concerns from financial institutions is, “Will we lose credit for all the work we’ve done in our CAT?” The answer, thankfully, is no. Finosec’s approach starts by importing your existing FFIEC CAT responses and mapping them to a more actionable, modern control framework. This step is guided by our secure information security assistant, Regi Ranger, ensuring speed, accuracy, and compliance without exposing data to the open internet.
What Happens in Step 2?
Step 2 focuses on documenting and strengthening your institution’s information security controls. It’s designed to mimic the FFIEC CAT format while delivering more clarity, alignment, and efficiency.
Here’s how it works:
- Import Your Existing FFIEC CAT
- Instead of reinventing the wheel, we begin by importing your current FFIEC CAT results.
- This ensures your historical efforts are not only recognized but leveraged as a launchpad for the new assessment model.
- Control Mapping with CIS
- We utilize the Center for Internet Security (CIS) Controls, a globally recognized, easy-to-implement framework.
- CIS Controls are split into 18 sections, offering a clear “Yes/No” approach for each control.
- Because they’re specific and prescriptive, these controls are ideal for institutions that want clarity and consistency.
- Making It Banking-Specific
- While CIS Controls provide a strong foundation, they weren’t built with banks in mind.
- That’s where Finosec’s Governance 360 controls come in.
- We’ve added 27 additional banking-specific controls to the standard tier and 4 more to the intermediate tier; ensuring your institution’s cybersecurity governance is fully aligned with financial industry expectations.
- Updated Implementation Tiers
- Instead of the traditional Implementation Groups (IG1, IG2, IG3), we’ve renamed these tiers to Standard, Intermediate, and Advanced.
- This terminology is more intuitive and easier to communicate across internal teams, auditors, and boards.
- Built-In Intelligence
- The transition isn’t just manual mapping, it’s powered by intelligent automation that streamlines the experience.
- Regi Ranger assists in interpreting existing responses, assigning control tiers, and identifying any gaps that may need to be addressed.
Why This Matters
Replacing the FFIEC CAT isn’t just about compliance, it’s about making your cybersecurity program more effective, auditable, and easier to manage. With Finosec’s approach, you not only retain your existing documentation but also build upon it using a modern control structure that’s tailored for banks.
This method transforms what could be a chaotic switch into a controlled, prescriptive process that respects your time and your team’s prior efforts.
Bottom Line: Documenting Controls Makes the Transition Actionable
Finosec takes your existing FFIEC CAT answers and turns them into a dynamic, banking-specific cybersecurity control framework. By leveraging CIS and Governance 360, you gain a smarter and more deliberate way to manage your information security program—ready for your next audit, exam, or board meeting.
Join us for our upcoming webinar to learn more about the FINOSEC CAT.
