Training on Cybersecurity Audit in Banking

About the Course

Large-scale data breaches are flooding headlines, as major security incidents like ransomware and supply chain attacks become more strategic by the day. Organizations that fail to address their cybersecurity blind spots in such a volatile threat landscape will inevitably suffer a data breach.

Recent studies and statistics highlight the growing severity of cyber risks to businesses. For example, according to a report by Cybersecurity Ventures, it is estimated that cybercrime will cost the global economy a staggering $10.5 trillion annually by 2025. This projection showcases the massive financial impact that businesses could face if they fail to address cyber risks effectively.

Gaining complete visibility over your entire cybersecurity program is the most effective way of addressing security gaps, identifying threats, and solidifying prevention and defense measures against cyber-attacks. To access this level of insight, you must perform a cybersecurity audit. Audits assess the effectiveness of your organization’s current cybersecurity program and ensure you’ve implemented or will implement the measures required to improve your security posture.

Target Participants

This course designed to equip bank supervisors with comprehensive knowledge and skills to conduct effective cybersecurity audits within a banking environment. Participants will delve into the intricacies of cybersecurity frameworks, risk assessment methodologies, regulatory compliance, and best practices specific to financial institutions.

What You Will Learn

By the end of this course the participants will be able to:

• Understand Banking-Specific Cyber Risks
• Apply relevant cybersecurity frameworks and compliance standards specific to banking
• Develop the skills to conduct thorough risk assessments within a banking context
• Identify and evaluate potential cybersecurity risks and establishing risk mitigation strategies
• Acquire practical techniques and methodologies to plan, conduct, and document cybersecurity audits
• Understand the compliance requirements pertinent to banking cybersecurity
• Gain hands-on experience using audit tools and technologies relevant to assessing cybersecurity measures within banking systems.

Course Duration

Online      7 Days

Classroom-based      5 Days

Course Outline

Introduction to Cybersecurity Audits

• Benefits of Cybersecurity Audits
• Types of Cybersecurity Audits
• Internal vs External Cybersecurity Audits
• Fundamentals of Information Security

Cybersecurity Audits in Banking

• Understanding the importance of cybersecurity audits in financial institutions
• Overview of regulatory frameworks and standards (e.g., FFIEC, NIST, GDPR) relevant to banking cybersecurity
• Role of a bank supervisor in overseeing cybersecurity audits

Cyber Threat Landscape for Banks

• Analysis of current cyber threats and trends impacting banking systems
• Identifying common attack vectors targeting financial institutions (e.g., phishing, ransomware, insider threats)
• Case studies of cyber-attacks on banks and their implications

Authorization Processes & Governance

• Application of access control technologies (e.g., firewalls, VPNs, identity and access management solutions) in banking cybersecurity
• Role-based access control (RBAC) Implementation
• Policies, Procedures, and Guidelines to govern Access Control

Threat/ Risk Assessment Audits and Management

• Risk assessment methodologies tailored for banking cybersecurity audits
• Evaluating inherent risks in a banking context
• Risk Mitigation Strategies and Incident Response Plans
• Recovery Plans – Protection of Financial Institution’s Assets and Services

Regulatory Compliance and Reporting

• Compliance requirements for banking cybersecurity audits (e.g., GLBA, PCI DSS)
• Reporting mechanisms and documentation standards for audit findings
• Engaging with regulatory bodies and maintaining compliance
• Testing of Cyber Resilience Framework

Conducting Cybersecurity Audits

• Tools for conducting cybersecurity audits in banks
• Developing audit plans and checklists
• Hands-on exercises and simulations of audit scenarios in a banking environment

Case Studies

• Current Trends and Practical Cases of Cyber Crimes
• Analyzing real-world cybersecurity audit scenarios in banking
• Situational Awareness
• Learning and Evolving

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in their respective fields of practice. The course is taught through a mix of practical activities, presentations, group works and case studies.

Training notes and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide needs.