Florida’s Citizens Property Insurance Information Technology Committee Report References FFIEC Release Update to Cybersecurity Assessment Tool
Jun 5, 2017
The May 31, 2017 update to the Federal Financial Institutions Examination Council (“FFIEC”), Cybersecurity Assessment Tool (“Assessment Tool”) will be discussed as part of an information technology security and risk mitigation update made to Florida’s Citizens Property Insurance Corporation’s Information Systems Advisory Committee this Wednesday, June 7, 2017.
To access the presentation and meeting materials, click here.
In light of the increasing volume and sophistication of cyber-based threats, the FFIEC Assessment Tool was created to help institutions determine their risk profile, inherent risks and cybersecurity preparedness. It provides a repeatable and measurable process that may be used to measure cybersecurity preparedness over time. Use of the tool is voluntary, and a company’s management may choose to use the Assessment Tool or another framework, or another risk assessment process to identify inherent risk and cybersecurity preparedness. The process is intended to complement, not replace, an institution’s risk management process and cybersecurity program.
The FFIEC update to the Assessment Tool addresses changes to the FFIEC IT Examination Handbook by providing a revised mapping in Appendix A to the updated Information Security and Management booklets.
FFIEC posts the latest information about cybersecurity risk management at www.ffiec.gov/cybersercurity.htm
Additional FFIEC resources are reprinted below:
Overview for Chief Executive Officers and Boards of Directors (PDF)
Cybersecurity Assessment Tool (PDF) (Update May 2017)
- User’s Guide (PDF) (Update May 2017)
- Inherent Risk Profile (PDF) (Update May 2017)
- Cybersecurity Maturity (PDF) (Update May 2017)
Appendix A: Mapping Baseline Statements to the FFIEC IT Handbook (PDF) (Update May 2017)
FFIEC Cybersecurity Assessment Tool Presentation View Slides (PDF) | View Video
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