we created and posted a ffiec Cybersecurity Assessment Tool xls into action by tracking your responses
Overview for Chief Executive Officers and Boards of Directors
In light of this increasing quantity and sophistication of cyber threats, the Federal Financial
Institutions Evaluation Council1 created the FFIEC Cybersecurity Assessment Tool xls.
(Assessment) on behalf of its members, to assist institutions in identifying their risks and deciding
Their cybersecurity preparedness. The Assessment provides a repeatable and quantifiable Procedure.
For institutions to quantify their cybersecurity preparedness as time passes. The Assessment
Integrates cybersecurity-related principles in the FFIEC Information Technology (IT)
Evaluation competencies and regulatory advice, and theories from other business standards,
Such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework.2
Benefits to the Institution
For institutions with the Assessment, the direction will Have the Ability to improve their supervision and
Management of this institution’s cybersecurity by performing the following:
- We are identifying variables contributing to determining the institution’s total cyber threat.
- We are assessing the institution’s cybersecurity preparedness.
- It is assessing whether the organization’s cybersecurity preparedness is matched with its dangers.
- Deciding risk management controls and practices that are needed or desire enhancement
- And activities should be taken to attain the desired condition.
- We are informing hazard management plans.
WORKBOOK UPDATE: FFIEC Cybersecurity Assessment Tool xls
The FFIEC Cybersecurity Assessment Tool xls (CAT) is a diagnostic test that is helping establishments identify their chance stage and resolve the maturity of their cybersecurity systems.
In 2017 the FFIEC upgraded their instrument to incorporate the choice “Yes, using compensating controls” while replying to the risk adulthood declarative statements. Watkins’ newest Excel workbook contains this operation. This version also has upgraded, as indicated by people utilizing the workbook. We love the comments, so please tell us how we can assist you.
This Excel Workbook, model 3.4.2, was published on 11/12/19. It’s free to be used and may be downloaded from our site — link to FFIEC CAT Excel workbook page.
