Financial Services Cyber Security Assessment - YourCyberNerdsYourCyberNerds

Financial Services Cyber Security Assessment

The financial services industry is a prime target for cybercriminals due to the sensitive financial data it handles. With regulations such as GDPR and PCI-DSS, it's imperative for institutions to uphold stringent cybersecurity measures. This questionnaire will help identify potential vulnerabilities within your cybersecurity framework, ensuring the protection of customer data and maintaining the integrity of financial transactions.

How frequently are cybersecurity risks reviewed and updated in your risk management plan?

Monthly or more frequently

Quarterly

Semi-Annually or less

Annually

Does your organization have an organizational cybersecurity policy established?

No policy in place

Documented, regularly updated policy

Policy exists but not formally documented

Documented policy, but not regularly updated

Is this policy communicated to personnel? How?

Regularly communicated through email and meetings

Communicated, but not regularly or effectively

Comprehensive communication strategy including training, intranet, and meetings

Not communicated

How are cybersecurity roles and responsibilities coordinated and aligned with internal roles and external partners?

Defined roles internally, limited external coordination

Informally coordinated, not consistent

Well-defined roles both internally and with external partners

No formal coordination

Are legal and regulatory requirements regarding cybersecurity and privacy documented, understood, and managed?

Fully understood and managed with dedicated compliance team

Partial understanding, inconsistent management

Requirements not understood or managed

Mostly understood and regularly managed

How are these requirements managed?

Regular reviews and assessments

No formal management process

Continuous monitoring and proactive management

Managed ad hoc as issues arise

Does your organization's Governance and Risk Management processes address industry-specific cybersecurity risks?

Generally addressed, with some gaps

Fully addressed with tailored risk management strategies

Not addressed

Partially addressed but not comprehensive

Are roles in the supply chain identified and communicated?

Not identified or communicated

Identified and communicated, but not regularly updated

Clearly identified, communicated, and regularly reviewed

Partially identified but not well communicated

Does your organization understand the cybersecurity risk to its organizational operations, assets, and individuals?

Comprehensive understanding and regular updates

Limited understanding

Good understanding with some areas for improvement

Basic understanding, but not comprehensive

Are threats, vulnerabilities, likelihoods, and impacts to organizational assets and critical resources, both internal and external, identified and documented?

Partially identified, not well documented

Not identified or documented

Regularly identified, documented, and updated

Identified and documented, but not regularly updated

Does your organization receive cybersecurity threat intelligence from information sharing forums? Are risk responses identified and prioritized?

Limited participation, ad hoc risk response

Active participation and well-structured risk response strategy

Active participation, some risk responses identified

No participation in forums, no risk response strategy

Describe the process for granting, reviewing, and revoking access to systems and data.

Periodically reviewed, manual process

Regularly reviewed, partially automated process

Ad hoc, no formal process

Continuously monitored and fully automated process

What mechanisms are in place for detecting and responding to cybersecurity threats?

Advanced threat intelligence tools with automated response capabilities

Automated threat detection with some manual intervention

Basic antivirus and firewall only

Regular system scans and manual threat hunting

How is sensitive data identified, classified, and protected in your organization?

No formal data classification or protection

Regular data classification and protection, with some manual intervention

Fully integrated data classification and protection mechanisms

Data classification policy exists but is inconsistently applied

What network security measures are in place at your organization?

Basic firewall only

Comprehensive network security including next-gen firewall, IDS/IPS, and regular security audits

Firewall and anti-virus

Advanced firewall, anti-virus, and intrusion detection system

How does your organization manage endpoint security?

Anti-virus plus device management and encryption

Basic anti-virus on endpoints

No formal endpoint security strategy

Comprehensive endpoint protection with EDR, encryption, and regular device assessments

How comprehensive is your business continuity and disaster recovery plan?

Basic plan covering only key systems

No formal plan in place

Comprehensive, regularly tested plan covering all systems and data, with offsite backups

Detailed plan with regular testing for critical systems

Describe your organization's incident response capability.

Formal response plan with designated team and periodic drills

Advanced incident response with a dedicated team, regular training, and integration with external experts

Basic response plan with limited scope

No formal incident response plan

What level of security monitoring and analysis is implemented?

Basic monitoring of key systems

Active monitoring with periodic security analysis

No ongoing monitoring

Continuous monitoring and real-time analysis with advanced security analytics tools

How does your organization handle vulnerability management and remediation?

Regular scans and manual patching

Scheduled vulnerability scans and automated patch management for critical systems

Ad hoc handling of vulnerabilities

Comprehensive vulnerability management program with automated scanning and remediation across all systems

What security measures are integrated into the application development lifecycle?

Security is a core part of the entire development lifecycle

Periodic security reviews during development

Security integrated into certain phases of development

Security is considered post-development

How does the organization manage cloud access and identity security?

Role-based access controls

Two-factor authentication

Basic password protection

Advanced identity management and adaptive access controls

How often is cybersecurity training provided to employees?

Regular and ongoing training

No regular training

Annual training

Semi-annual training

How does the organization assess and manage cybersecurity risks posed by third-party vendors?

Periodic reassessments

No formal assessment

Continuous monitoring and assessment

Assessment at the time of contract initiation

What physical security measures are in place to protect IT infrastructure and data centers?

Basic locks and physical barriers

Biometric access controls

Comprehensive physical security management

Surveillance cameras and alarm systems

Fear not, we’ve got your back! Your final score will be on the next page.

Enter your contact information below to receive a comprehensive breakdown of your score, along with practical guidance to improve your organizational cybersecurity posture.

Rest assured, your privacy is our top priority. We guarantee that your information will be kept confidential and will not be shared with any third parties. It's strictly used to deliver the personalized results and insights you need to bolster your cybersecurity defenses.