Cyber regulations prompt banks to elevate Ciso role
OpRisk North America: Information security increasingly seen as a risk management function
New cyber risk regulations are forcing banks to give their chief information security officers (Cisos) a more senior role in risk management.
The New York State Department of Financial Services’ Cybersecurity Regulation, which became effective in March 2017, requires Cisos to update the board of directors at least annually on banks’ cyber security programmes and vulnerabilities.
“Our friends at the NYDFS have made life even busier for organisations by prescribing different points that have to
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