Cybersecurity Focus Areas for Banks

This document is a guide that outlines four important cybersecurity focus areas for banks, as identified by the Northcross Group (NCG). The first focus area addresses the increasing regulatory scrutiny on bank cybersecurity risks, emphasizing the need for banks to assess their security programs in light of guidance from the Office of the Comptroller of the Currency (OCC) and the Federal Financial Institutions Examination Council (FFIEC). The second area discusses the implementation of an enterprise cyber risk management process, highlighting the importance of aligning risk management with the bank's culture and capabilities. The third focus area emphasizes the need for enhanced incident response capabilities to manage evolving internal and external threats effectively. Lastly, the document addresses the alignment of budget, processes, and resources between security and solution development, advocating for a proactive integration of security objectives within project management practices. Each area includes next steps for banks to improve their cybersecurity posture.