The NY DFS cybersecurity regulation calls upon New York’s financial services industries to establish and maintain a cyber security program that will protect both customers’ private data and the technology that supports this – within a 180-day time line.
Consequently, business executives at financial services institutions are asking:
- Does our information security program align to the DFS regulation?
- Can we review our systems, identify where changes need to be made and implement the required modifications within the 180-day deadline date?
- Do we have an effective incident response plan in place?
How the ISF can help you:
We have created a mapping between the NY DFS regulation and the ISF’s research, tools and methodologies. The mapping aids NY DFS compliance by showing which elements of the ISF’s comprehensive library of good practice can be deployed to satisfy each of the NY DFS requirements. This comprises of:
- A business-driven approach for identifying information risk in a manner that reflects risk appetite and recognizes compliance requirements (such as the NY DFS regulation), using Information Risk Assessment Methodology 2 (IRAM2)
- Detailed guidance on specific controls that can be applied to mitigate information risk and enhance cyber resilience (including those specifically referenced by the NY DFS regulation, such as enhanced Access Control), captured in one place – The Standard of Good Practice for Information Security (the Standard)
- Topic-specific ‘deeper dive’ material that provides further implementation guidance in areas of particular importance to cyber security, such as threat intelligence and application security.
ISF Consultancy Services:
We recognise that many organizations lack the time, resource or in-house expertise to deliver this business essential project. Our Consultants provide independent and objective guidance and can assist you with the on-site implementation of ISF deliverables in a way that is both pragmatic and cost-efficient.
NY DFS & Consultancy Services Executive Summaries & Press Release
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