Assignment Content
As the Chief Information Security Officer (CISO) at SafeBank Financial, you are tasked with developing a comprehensive cybersecurity framework to protect the institution’s sensitive data and financial systems.
Write a 3- to 4-page analysis on implementing a cybersecurity framework for SafeBank Financial.
- Define a Cybersecurity Framework: Start by defining a cybersecurity framework and its importance for financial institutions. Discuss the need for protecting financial data from both internal and external cyber threats and ensuring regulatory compliance.
- Assess Current Cybersecurity Posture: Evaluate the existing cybersecurity measures at SafeBank, including firewalls, encryption, intrusion detection systems, and access control. Determine if these measures meet industry standards and are sufficient to protect the bank’s assets.
- Identify Cybersecurity Risks: Identify specific cybersecurity risks faced by financial institutions, such as data breaches, ransomware attacks, insider threats, and phishing. Explain how these risks could affect SafeBank’s operations, customers, and reputation.
- Propose a Cybersecurity Strategy: Develop a cybersecurity strategy based on industry best practices, such as the NIST Cybersecurity Framework or ISO/IEC 27001. Include measures like multi-factor authentication, endpoint protection, employee training, and regular security audits to minimize risks.
- Compliance with Financial Regulations: Discuss the importance of complying with financial regulations like PCI DSS, GLBA (Gramm-Leach-Bliley Act), and FFIEC (Federal Financial Institutions Examination Council) guidelines. Emphasize how compliance ensures the protection of sensitive financial information and avoids legal penalties.
- Monitoring and Incident Response: Propose a monitoring and incident response plan that includes real-time threat detection, incident response protocols, and regular penetration testing to identify vulnerabilities and enhance security.
Ensure all sources are cited in APA format.
