Oct 17, 2024 - Preparing for a Cybersecurity Attack Webinar

Join CompassMSP vCISO and Cybersecurity Advisory & Compliance Leader, Jim Ambrosini, as he guides you through your cybersecurity assessment based on proven best practices and procedures relied upon by businesses across the country.

Financial institutions face unprecedented cyber risks and challenges. Every day, we hear about new data breaches, and it seems community banks and credit unions are next in line. Federal regulations prescribe bank protocols and protections, but are these requirements enough? Are community banks being targeted? Can banks and credit unions prevent attacks by being proactive? Are they using the right resources? These are questions that can only be truly answered once a cyberattack has occurred.

To defend against cybersecurity attacks, it is crucial to understand the dynamic landscape of cybersecurity, focusing on the latest emerging threats and effective defense mechanisms. This requires analyzing the current state of cybersecurity, highlighting key statistics, expanding attack surfaces, and understanding the real challenges faced by your chief information security officer. Financial institutions must focus on emerging threats like deep fakes and ransomware and analyze high-profile breaches for lessons learned. Additionally, practical strategies and steps must be implemented to strengthen cybersecurity defenses. Jim Ambrosini, a cybersecurity consultant with over 25 years of experience, will guide you through a comprehensive cybersecurity assessment based on proven best practices and procedures used by organizations nationwide.

What You'll Learn

• The changing nature of cybersecurity
• Emerging cybersecurity threats and effective defenses
• Specific financial institution cybersecurity threats
• Actual bank case studies
• Practical steps and strategies that financial institutions can implement to increase their defenses against cybersecurity threats
• How the growing importance of AI in banks can affect cybersecurity
• The role of senior management and the board of directors in the fight to improve cybersecurity
• Important cybersecurity-related policies and procedures
• How to identify potential cybersecurity threats
• How to identify vulnerabilities and respond to a breach
• Future trends in bank cybersecurity risks
• An actual bank case study—what was done correctly and what was done incorrectly

A. Introduction and Cybersecurity Overview

B. Current Cybersecurity Trends

• Statistics on cybersecurity breaches
• Number and impact of breaches in recent years
• Business sectors most affected
• Anatomy of recent high-profile breaches
• Examples of banking-related breaches
• Vulnerabilities and responses

• Expanding attack surfaces
• IoT devices and remote work
• Third-party vendor risks
• Fintech-related risks
• Cybersecurity budgets and their allocation
• Complexity and the challenge of full protection
• Chief Information Security Officer burnout and implications
• Over-reliance on frameworks without practical adaptation
• Prevalence of careless risk management

• How technology has evolved attack methods
• Deep fakes and ransomware

E. Artificial Intelligence (AI) and the Implications for Bank Cybersecurity

F. How Banks Can Manage Cybersecurity Risks

• Roles of senior management and the board of directors
• Key bank policies, including cybersecurity and AI policies

G. Identifying Potential Cybersecurity Risks Within the Institution

• Foundational security measures
• Employee awareness programs
• Leveraging advanced technologies

H. Correcting Potential Cybersecurity Vulnerabilities

I. Responding to a Bank Breach

• Continuous monitoring requirements
• Steps to mitigate damage during a breach
• Resolution processes for breaches
• Damage containment and assessment
• Insurance claims and customer notifications
• Law enforcement and regulatory considerations

• Review of an actual case: successes and areas for improvement

Click here for more information: Preparing for a Cybersecurity Attack Webinar