Financial Cybersecurity Risk Management

About the Course

Financial institutions face unprecedented challenges in safeguarding sensitive data and maintaining operational resilience against evolving cyber threats. This 5-day intensive Financial Cybersecurity Risk Management training course equips delegates with essential knowledge and strategies to navigate this complex terrain effectively. It explores cybersecurity's critical aspects specific to financial services, offering insights into the latest threats, regulatory requirements, and best practices. Delegates will gain a deep understanding of the cybersecurity threat landscape in finance, including prevalent risks such as data breaches, ransomware attacks, and insider threats. By exploring various frameworks and standards like NIST Cybersecurity Framework, ISO 27001, and PCI DSS, they will learn how to align organisational cybersecurity practices with industry benchmarks and regulatory mandates. Emphasis is placed on developing robust risk assessment methodologies, implementing tailored risk management strategies, and establishing proactive measures to mitigate vulnerabilities.

This training program emphasizes the importance of cybersecurity governance, performance measurement, and continuous improvement within financial institutions. Delegates will explore the role of governance structures in overseeing cybersecurity initiatives, measuring cybersecurity effectiveness through key metrics, and fostering a culture of security awareness and incident response readiness. Through practical insights and case studies, it equips professionals with the skills needed to navigate cybersecurity challenges confidently, ensuring the integrity, confidentiality, and availability of critical financial data. Delegates will be prepared to contribute effectively to their organisations' cybersecurity posture, adept at implementing proactive measures and responding swiftly to emerging cyber threats in the dynamic financial services landscape.

Core Objectives

The delegates will achieve the following objectives:

• Understand the cybersecurity threat landscape specific to the financial industry, including emerging risks and threat actors
• Apply frameworks and standards such as the NIST Cybersecurity Framework, ISO 27001, and PCI DSS to ensure compliance and robust cybersecurity practices within financial institutions
• Develop and implement effective risk assessment methodologies to identify, prioritise, and manage cybersecurity risks based on business impact and likelihood
• Evaluate and enhance cybersecurity governance structures to ensure effective oversight and accountability in managing cybersecurity risks
• Measure cybersecurity effectiveness through key metrics and performance indicators to continuously monitor and improve cybersecurity posture.
• Design and implement incident response plans to mitigate the impact of cybersecurity incidents and ensure swift recovery of critical financial systems and data
• Promote a culture of cybersecurity awareness throughout the organisation

Training Approach

This training course employs a blend of interactive lectures, case studies, and hands-on simulations. Delegates engage in real-world scenarios to apply theoretical knowledge, reinforcing understanding through practical exercises and group discussions. This approach ensures that they grasp theoretical concepts and develop practical skills essential for effective cybersecurity risk management in financial settings.

The Attendees

This training course represents a diverse group of professionals deeply involved in safeguarding financial systems against cyber threats. They bring expertise in cybersecurity, risk management, and regulatory compliance, essential for fortifying financial institutions against evolving cyber risks and ensuring resilience in an increasingly digital financial landscape.

Likewise, it will be valuable to the professionals but not limited to the following:

• Cybersecurity Managers and Analysts
• IT Security Professionals in Financial Services
• Compliance Officers and Risk Managers
• Audit and Internal Control Personnel
• Chief Information Security Officers (CISOs)
• Financial Regulators and Policy Makers
• Technology and Operations Managers in Financial Institutions

Daily Discussion

DAY ONE: UNDERSTANDING FINANCIAL CYBERSECURITY RISK

• Cybersecurity Threat Landscape in Finance
• Regulatory Landscape and Compliance Requirements
• Vulnerability Assessment and Threat Modeling
• Risk Identification and Classification
• Security Controls Frameworks
• Incident Response Basics
• Cybersecurity Risk Communication
• Risk Mitigation Strategies

DAY TWO: FRAMEWORKS AND STANDARDS IN FINANCIAL CYBERSECURITY

• Overview of NIST Cybersecurity Framework
• ISO 27001 and its Application in Financial Services
• PCI DSS Requirements for Payment Security
• SOC 2 Compliance for Service Providers
• GDPR and Data Protection in Finance
• Cybersecurity Governance Models
• Third-Party Risk Management
• Cybersecurity Policy Development

DAY THREE: RISK ASSESSMENT AND MANAGEMENT TECHNIQUES

• Quantitative vs Qualitative Risk Assessment
• Threat Intelligence and Information Sharing
• Risk Treatment Strategies
• Business Impact Analysis (BIA)
• Security Awareness Training Programs
• Vulnerability Management Lifecycle
• Asset Management and Inventory
• Penetration Testing and Red Teaming

DAY FOUR: SECURING FINANCIAL SYSTEMS AND NETWORKS

• Network Security Best Practices
• Application Security in Financial Services
• Cloud Security Considerations for Financial Institutions
• Mobile Device Management (MDM)
• Endpoint Security Solutions
• Insider Threat Detection and Prevention
• Identity and Access Management (IAM)
• Security Operations Center (SOC) Functions

DAY FIVE: CYBERSECURITY GOVERNANCE AND PERFORMANCE MANAGEMENT

• Role of Governance in Cybersecurity Risk Management
• Cybersecurity Metrics and Performance Measurement
• Continuous Monitoring and Adaptive Security Practices
• Regulatory Compliance Audits
• Incident Response Plan Testing
• Cybersecurity Training and Awareness Programs
• Threat Hunting and Cyber Threat Intelligence
• Security Incident Management Framework