The FFIEC Cybersecurity Assessment Tool (CAT), developed by the Federal Financial Institutions Examination Council (FFIEC), is a diagnostic test designed to help financial institutions identify, gauge, and improve on cybersecurity risks.
The CAT consists of two parts:
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An inherent risk profile, which identifies an institution’s inherent risk based on factors like size, complexity, and business activities.
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Cybersecurity maturity, assessing the current state of cybersecurity preparedness across five domains:
- Governance and Risk Management
- Data Security
- Identity and Access Management
- Security Awareness and Training
- Incident Response and Resiliency
The FFIEC CAT is not a compliance tool that guarantees compliance with specific regulations. It is just a tool that helps assess the risks, and its use is voluntary.
Strong cybersecurity requires a collective effort. Talk to the team today to discover how Finite State can help you improve your security posture.
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