Cyber Risk Management
Organizations around the world—especially in the financial industry—are now confronting increasingly complex cyber defense, preparedness, and compliance regulations. Having to answer to multiple regulators creates the complex challenge of meeting competing regulatory requirements while keeping up with evolving threats to sensitive customer data and transaction information, as well as internal processes and systems. A fully integrated, risk-based cybersecurity profile is essential to managing these threats and meeting regulator demands.
With an emphasis on the financial services industry and related regulatory requirements, K2 Integrity’s cyber risk management services team assists clients in reconciling their multifaceted cybersecurity regulatory obligations. Our blended approach maps the regulatory requirements from the New York Department of Financial Security (NYDFS) Part 500, the Financial Industry Regulatory Authority (FINRA), the Federal Financial Institutions Examination Council (FFIEC), the National Association of Insurance Commissioners (NAIC), the Financial Accounting Standards Board (FASB), the Committee on Payments and Market Infrastructures (CPMI) together with the International Organization of Securities Commissions (IOSCO), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) with leading cybersecurity frameworks such as the National Institute of Standards and Technology (NIST) and the International Standards Organization (ISO) frameworks.
We evaluate our clients’ enterprise and regulatory requirements to understand risks and determine the potential business impact. We assess the design and operational effectiveness of technology controls and develop a prioritized action plan for mitigation—identifying vulnerabilities to safeguard organizational data and assets. Our assessments, aligned with regulatory guidelines, result in prioritized, actionable intelligence so clients can focus on the most urgent issues.
Our comprehensive cyber risk services provide end-to-end solutions across three key areas:
- Cybersecurity Readiness: We provide our clients with a comprehensive review and gap assessment of the current state of their cybersecurity posture, and we provide advisory support and guidance on audit preparedness, and review and remediation of their third-party compliance effort. Part of this effort is ensuring that an organization’s personnel proactively identify and escalate any potential information security threats. K2 Integrity trains personnel to spot threats using fully customized and targeted campaigns through our managed phishing services and information security training options across all user personas with our end user awareness, cybersecurity staff, and executive leadership training courses.
- Risk Assessment: We assist with the development or enhancement of risk management practices and controls, and conduct or assist with annual risk assessments. We review our clients’ existing risk and control frameworks, data security standards, third-party risks, current network topology, and technology landscape to uncover priority and residual risk areas. As a result of our assessment, we provide our clients with prioritized action plans as well as remediation and mitigation assistance.
- Security Operations and Managed Services: We conduct independent assessments of mitigation plans and/or implementation for effective remediations. This includes fully managed vulnerability assessments, expert-driven penetration testing, and compromise assessments. Our managed detection and response center provides monitoring, alerting, and interactive and real-time customized dashboards and metrics for organizations of all sizes across industries.
Virtual Chief Information Security Officer: Strategic Vision and Thought Leadership
Some regulations, such as the NYDFS 500, explicitly mandate that organizations institute a cybersecurity leader. To assist in this effort, K2 Integrity provides a virtual chief information security officer (vCISO) as a subscription service to lead the organization and build a holistic and resilient cybersecurity program. The vCISO will also design and provide guidance on cybersecurity architecture, tools selection, and implementation, including quantifiable metrics and dashboards. Having strategic leadership and vision along with timely and actionable intelligence is paramount for a robust cybersecurity operation.