FS-ISAC works with our members to increase diversity in cybersecurity across the industry. Further, some of our community’s top executives are women. Several became contributors to FS-ISAC Insights in 2020, with a variety of takes on cybersecurity’s evolving role in financial services.

With digitization accelerating across all industries in the post COVID-19 era, Standard and Poor’s CISO Laura Deaner outlines how cyber risk is growing in importance to credit ratings. As the frequency and severity of cyber incidents increases, so does the potential for rapid deterioration in credit profiles. This is especially true for financial services, whose stock prices drop more than other industries following a breach due to their confidence-sensitive nature.

Cybersecurity is increasingly integrated into the business. Principal CISO Meg Anderson describes how business information security officers (BISOs) ensure ongoing dialogue between the enterprise security team’s overall cyber posture and a more granular understanding of individual business strategies, technology plans, local regulatory requirements and continually evolving cyber threats.

For Lloyds CSO Sharon Barber, the pandemic has validated a firm-wide commitment to developing and cross-skilling in-house talent. With cybersecurity a key area of focus for the bank, Sharon is prioritizing developing skills in security operations, third party risk assessment, and cloud.

As security teams reckon with new and expanding uses of data and the resultant risks, automation is helping us process huge volumes of data at ever faster speeds. Still, Koral Anderson (formerly of Deutsche Bank, now at Barclays) says neglecting the human factor in cybersecurity would be a mistake. Arming consumers and employees through education is no longer a nice-to-have, but a necessary part of a robust cyber defense strategy.

The Insight

As cybersecurity moves to the forefront of business considerations like never before, FS-ISAC Insights is on a mission to keep providing powerful insights like these, to help financial institutions navigate and adapt to continuous change. Stay tuned for more in 2021.

January 2021

© 2021 FS-ISAC, Inc. All rights reserved.

GL-Article_Sidebar
NavigatingCyber2021_Twitter

As we've seen recently, even strong cybersecurity defenses can still be vulnerable, especially through third party suppliers. With nation-states and cyber criminals collaborating (wittingly or not), these new well-funded threats are impossible to tackle alone.

Download our latest FinCyber Report

FS-ISAC members around the world receive trusted and timely expert information that increases sector-wide knowledge of cybersecurity threats.

Learn More