Federal Financial Institutions Examination Council’s new cybersecurity assessments for community banking institutions will be incorporated into the usual IT examination process, regulators say. Industry associations and analysts say banking leaders should be preparing for more stringent oversight of cybersecurity awareness and initiatives. Community banks and credit unions likely will have to prove they have strategic plans in place to ensure ongoing cyberthreat awareness and an understanding of cybersecurity threats at the board and executive levels. One banking institution executive says regulators are already setting times for cybersecurity-related exams with select banking institutions to coincide with their regular IT exams.”]
Source: https://www.cuinfosecurity.com/ffiec-cyber-assessments-what-to-expect-a-6831