Pub. 5 2015-2016 Issue 4

18 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S FEATURE ARTICLE CoNetrix developed a free, online automated tool that can help banks perform and report on their cybersecurity assessments. LETICIA SAIID, SECURITY+ CONETRIX I f you have ever been in a field that involves cus- tomer service, you learn toexpect certainques- tions. You may even be able to predict some. For example, if you are demonstrating a prod- uct, one question you can typically count on is: “How long does it take to do this?” And, as you probably suspect, the tried-and-true answer is, “It depends.” The same question and answer routine is understandable. We all want to know what everyone else is doing. I ama software support specialist and I am frequently asked, “How do you see other banks handling issue XYZ?” We depend on each other to understand the world around us. We want to know, what are other people doing to get it right? In the spirit of that question, I’d like to give you some insight into what other institutions are struggling with most in light of the recent Cybersecurity Assessment Tool released by the FFIEC. Some of the key issues highlighted by the assessment are areas of non-compliance. In the tool, if a Baseline statement is answered “No,” then the bank is considered non-compli- ant, since each Baseline statement is already required by guidance and regulation. In response to the FFIEC’s PDF document, CoNetrix developed a free, online automated tool that can help banks perform and report on their cybersecurity assessments. The free tool features an optional peer analysis to allow financial institutions to anonymously share and view information about how other banks are doing in the field of cybersecurity. An ag- gregation of anonymous peer responses from more than 250 financial institutions across the United States identified a common theme. Here are the top three items currently causing Do You Match up to Your Peers in Cybersecurity?