In recent years, we have seen a significant amount of new guidance on third party risk management within financial institutions. FFIEC Cybersecurity Assessments Tool (CAT) encourages financial institutions to expand questioning around third party risk management practices and suggests more rigorous oversight.

Regulators also suggest that the FFIEC CAT can be leverage against Third Parties; not just financial institutions. There has also been discussion that the FFIEC may release a version of CAT for Third Parties to complete.

The FFIEC coined the term "External Dependencies" in CAT guidance. This expands requirements beyond vendors, to include any third-party relationship, including customers. We will explore best practices for Vendor Management, Third Party Risk Management, and Customer Risk Management.

Covered Topics:

This discussion will help improve your process by reviewing the following:

• Overview of industry breaches
• New regulatory expectations
• Risk Management practices for selecting new products/services
• Risk Management of existing relationships
• Integration of customers into management program
• Lessons learned from failed management programs

Who Should Attend

Information Security Officer, IT Manager, Risk Officer, Internal Auditor, CFO, and Executives looking to understand the risk around Third Party Management.

The Presenter:

Chad Knutson is a Senior Information Security Consultant and serves as President of the SBS CyberSecurity out of Madison, SD. SBS is a leader in information security consulting for the financial industry in the US. SBS works with more than 900 banks around the country on information security services such as the development of Information Security Programs, Policies, and Risk Assessments, along with performing IT Audits, Penetration Tests, Vulnerability Assessment and other security services.

Chad is a Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA) and Certified in Risk and Information Security Controls (CRISC), and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance with an emphasis in Banking and Finance Security from Dakota State University. Chad has been with SBS since 2004 and has consulted with many financial institutions during this time.