Cyber Threats to Banks and Financial Institutions: Regulatory Requirements and Bank Examinations
Leveraging FFIEC Cybersecurity Assessment, Navigating Board of Director Risks and Third-Party Vendor Management
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will discuss regulatory developments in the wake of increasing cyber threats for financial institutions, including the FFIEC’s Cybersecurity Assessment Tool. The program will look at how regulators assess cybersecurity and the recent increased focus on risk management by board of directors and third-party vendor management. The program will also address enforcement actions and litigation trends.
- Overview of the threat landscape, with emphasis on threats to financial institutions, including online banking and payment systems
- Key federal banking agency initiatives and regulatory developments
- FFIEC Cybersecurity Assessment Tool
- Potential NYDFS cybersecurity regulation requirements
- Consumer education and awareness regarding cyber threats, phishing, and protecting your identity online
- Managing third-party vendor relationships
- Regulatory examinations
- Board of director risk and managing fiduciary obligations
- Vendor contracting and management
- Cyber threat information sharing
- Litigation claims and trends
- Class actions
- PCI-related litigation
- Shareholder derivative litigation
- Regulatory enforcement actions (e.g.,SEC, FINRA, etc.)
The panel will review these and other key issues:
- Where are new sources of cyber attacks coming from, who are the suspects, what are their motivations and how are they gaining access?
- How can the FFIEC Cybersecurity Assessment Tool assist financial institutions in identifying and minimizing cyber risks?
- What are the regulators’ expectations of board of director oversight of cybersecurity and what liability risks do D&Os face in this arena?
- What are the trends in cybersecurity litigation and what lessons can be learned from litigation to date?
Jason M. Halper
Orrick Herrington & Sutcliffe
Mr. Halper is Co-Chair of the firm’s Financial Institutions Litigation Practice, and is a member of the... | Read More
Mr. Halper is Co-Chair of the firm’s Financial Institutions Litigation Practice, and is a member of the Securities Litigation, Investigations and Enforcement Practice Group. He is a seasoned litigator and trial lawyer with more than 20 years of experience representing financial institutions, Fortune500 companies and other clients in high-stakes litigation and regulatory matters. Mr. Halper is also an adjunct professor in corporate and securities law at the University of Pennsylvania Law School, and a frequent speaker and author.Close
Orrick Herrington & Sutcliffe
Mr. Swaminathan is a global Co-Chair of the firm's Cybersecurity & Data Privacy team. He is an... | Read More
Mr. Swaminathan is a global Co-Chair of the firm's Cybersecurity & Data Privacy team. He is an accomplished trial lawyer, litigator and former federal prosecutor with extensive experience in cybersecurity and data breaches, government and internal investigations, and privacy-related matters. Mr. Swaminathan advises clients in proactive assessment and management of internal and external cybersecurity risks, breach incident response planning, and corporate governance responsibilities related to cybersecurity.Close