FFIEC's Cybersecurity Assessment Tool: Guidance For CEOs And Boards

Christopher G. Cwalina is a Partner and Kaylee A. Cox is an Associate in our Washington, D.C. office.

HIGHLIGHTS:

• The Federal Financial Institutions Examination Council (FFIEC) released a Cybersecurity Assessment Tool (CAT) on June 30, 2015, to assist organizations in identifying cyber risks and assessing their cybersecurity preparedness.
• A critical point regarding the CAT is that it is intended to complement – not replace – an institution's risk management process and cybersecurity program.
• By addressing a letter directly to CEOs and board members, the FFIEC has made clear exactly what it believes are the responsibilities of those in the "C-Suite" and board rooms.