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Does your institution still have outdated processes in place?

Jun 29, 2022 12:30:00 PM / by Finosec

In a video released to FINOSEC Academy, Co-Founder and CEO, Zach Duke, poses some questions around the processes you currently have in place at your institution. Regardless of which department you think of first, it is likely that some outdated processes are still in place, and your information security and cyber security teams are no exception.

 When it comes to assessments, tracking exceptions, and user access, upholding those processes tends to be a highly manual endeavor, relying on legacy systems and heroic effort from the team. 

Your Information Security Risk Assessment is no different. While the regulators and examiners expect to see complete and robust risk assessments, the exact methodology is rather nebulous and undefined, leaving you and your team working to complete thousands of individual assessments as it relates to the systems in your institution to provide an overall assessment of your information security program. 

FINOSEC has created an Information Security Risk Assessment that is highly automated and walks you through every step of the process. Completing this assessment consists of 3 simple steps. 

  1. Fill out the System Map. This is a snapshot of the systems in place at your institution and what purpose each one serves. 

  2. Answer your Information Security Controls. Answer which safeguards are currently at your institution and easily determine which controls you may want to pursue next. 

  3. Assign Risk Categories, MFA implementation, and UAR frequency. After the System Map has been filled out, you will then assign a risk category (such as Cloud Based System, Core Provider, Anti-Virus, etc.) and answer the level of MFA implementation and how often user access reviews are performed. 

After these three steps have been completed, your Risk Assessment is finished. The FINOSEC calculations have undergone thousands of assessments and reviews to ensure accuracy and reliability, and the system is built in such a way that you can even tailor those calculations to more accurately depict the nuances of your institution. 

Whether you are looking to increase the efficiency of reporting your GLBA compliance, your user access reporting, or your risk assessments, FINOSEC can come alongside you and your institution to help automate the processes and provide a simple approach to cybersecurity. If you would like to learn more, schedule a call by clicking the link below: 

Request a Call

Tags: Cybersecurity, Innovation, board training, Exam Readiness, preparedness, Security, information security, Information Security Officer

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