FFIEC Compliance & Financial Regulations

Uniformity and Consistency

Financial industry regulations are predominantly prescribed and managed by the Federal Financial Institutions Examination Council (FFIEC). FFIEC cybersecurity guidelines can be complicated, and their updates and reports are frequent because the threats they address are constantly mutating.

How do you recognize where your network is most vulnerable? How do you assure your customers that their information is private, secure, and protected? You do so by identifying risk and implementing mitigating controls in order to abide by best practices and compliance requirements.

Your information security program must adhere to industry standards like the FFIEC and GLBA. We can help your financial organization meet these standards. We offer services that mitigate risk around the clock while adhering to the latest industry regulations, and a compliant and up-to-date program to assist you in measuring, monitoring, and reporting on your information security risk.

Did You Know?

$243 billion in fines have been issued to banks since the financial crisis.

– Market Watch

Gramm-Leach-Bliley Act (GLBA)

The GLBA prioritizes disclosure and transparency. It requires financial institutions to:

  • Protect consumer information
  • Explain to their customers their rights and options for information sharing
  • Develop and disclose their information security programs to their customers
  • Discuss with customers the information that’s shared, the institutions it’s shared with, and the steps taken to protect the information when it’s shared

GLBA presents intrinsic challenges: how to balance transparency, security, and efficacy. To help you find a balance, we assess GLBA components with your operations in mind. We analyze GLBA to guarantee your financial organization’s compliance.

FFIEC Regulations

The FFIEC releases and updates a variety of tools, including a Cybersecurity Assessment Tool. With this, they detail regulatory demands and best practices such as:

  • How to assess your organization’s cybersecurity risk level
  • How to test and scan your network for vulnerable points of entry
  • Our compliance experts analyze the FFIEC updates and reports. We compare FFIEC best practices to the nuances of your operations. Then we recommend, based on that knowledge, practical policies and services.

We also analyze another cybersecurity regulation: the Gramm-Leach-Bliley Act (GLBA). The GLBA mandates security standards for financial institutions, such as how to disclose your security practices to customers and how to protect their information.