Steve McNaught’s Post

ITDR, BCM and Crisis Management all must now be fully operational and in action. Let us see how capable those businesses impacted are at reacting, responding and recovering from this multi layer BI event. BFL CANADA #BFLRiskAdvisory

Could you have pictured today’s Security Operations Center (SOC) five years ago? While AI might have been something people knew about, the sudden growth of Generative AI probably shocked a lot of folks. To do well now and handle future problems, it's really important to change up the SOC. For a long time, the SOC has been like the central hub of an organization's cybersecurity efforts. Its job is to spot, understand, and deal with cyber threats as they happen. But things are getting more complicated. New technologies like cloud computing and AI are making cyber threats more sophisticated and harder to stop. One big problem is AI-powered attacks. These attacks use smart computer programs to find and exploit weaknesses in a system. They can steal data or even cause damage to a company's computer systems. Another challenge is that there are more places for cyber threats to hide. With so many different devices and systems connected to the internet, it's hard for the SOC to keep track of everything. This makes it easier for cybercriminals to sneak in and cause trouble. Upcoming technologies like AI and quantum computing are driving complex new regulations, adding pressure to already overburdened security teams. CISOs and security leaders face increased personal accountability for ensuring compliance. To make matters worse, there aren't enough people with the right skills to handle all these threats. Companies are struggling to find and keep cybersecurity experts who can help them stay safe. But there's hope. Security operations are changing to meet these challenges. Companies are using smarter tools and technology to spot threats before they become a problem. They're also training their staff to understand these threats better so they can stop them in their tracks. And remember, AuditCue is here to help you manage your SOC and tackle all those AI threats. Learn more about how we can support your security operations and keep your organization safe. Explore https://lnkd.in/gYB5FqDX and manage your SOC effectively! #rsac #security #cyberthreats #compliance #soc #regulatory #AI #AuditCue

Take testing of your BC/DR (Business Continuity/Disaster Recovery) plans seriously. Such things happen in the connected world. https://lnkd.in/d3inkjsn

⚠️ The biggest challenge for any secured finance business is RISK. ⚠️ Economic turbulence, cybersecurity threats, labor shortages...the list goes on, and it can be daunting trying to avoid them all. 📖 Our Risk Management eBook is the best resource for anyone looking for a trsuted reference guide. Find out how technology can take away all of the hard work - download your FREE copy: https://lnkd.in/epSRhEcn #saas #innovation #technology #fintech #factoring #workingcapital #wholesalefinance #leasingsoftware #automotivefinance #lendingplatform #openfinance #security #openfinanceplatform #banksoftware #cloud #equipmentfinance #workflows #automation #riskmanagement #softwaresolution

Must read by RAND's Jonathan Welburn with implications for cybersecurity risk management and resiliency in US critical infrastructure.

I'm excited to highlight the pivotal role of the Digital Operational Resilience Act (DORA) in revolutionizing the operational standards for over 22,000 financial entities and ICT service providers. With the January 2025 deadline on the horizon, understanding DORA's comprehensive approach to risk management, incident reporting, and resilience testing is critical for the industry. Explore Wheelhouse Advisors' RiskTech Journal for essential insights and strategies to ensure your organization is not just compliant, but also resilient in the digital age. #DORA #DigitalResilience #Compliance2025 #WheelhouseAdvisors #IRM

LAST CHANCE TO GET YOUR NAME DOWN FOR TODAY’S 3pm WEBINAR - 🎯 AIMED FOR FINANCIAL SECURITY LEADERS IN U.K. To comply with DORA, financial organisations should develop an information communication technology (ICT) governance, risk and compliance plan. Organisations must demonstrate continuous compliance with DORA, spanning visibility into ICT systems, vulnerability management, and conducting dynamic risk assessments. It requires organisations to address requirements across five pillars: ICT Risk Management, Incident Reporting, Digital Operational Resilience Testing, Third Party Risk, and Information Sharing. Join real-world practitioners as we discuss best practices on how organisations can develop robust roadmaps and strategies to comply with DORA. You will learn: • What’s DORA’s impact on the organisation? • How do you get started? • What changes might your organisation need to implement DORA? • How can AI and Automation help you fast-track DORA compliance? #vulnerabilitymanagement #finance #enterprise #financialservices #banking #soc #ciso #dora #chiefinformationsecurityofficer https://lnkd.in/dfM4BWAf

Empowering Financial Businesses: How MSPs Drive Risk and Compliance Success In today’s financial landscape, Managed Services Providers (MSPs) are more than just a number to call when a laptop is causing issues. They play a pivotal role in assisting with risk management, compliance, and strategic growth for financial firms. Reduced Exposure: By leveraging scalable technology and expertise, MSPs help manage risk more effectively. Whether it’s cyber services, model risk management, or regulatory reporting, they provide strategic value. Strategic Benefits: Long-Term Partnership: MSPs offer continuity and stability. Their tightly integrated approach fosters trust and confidence, allowing financial firms to focus on growth. Innovation and Talent: MSPs bring market-leading technologies and methodologies. They keep financial businesses ahead of the curve, adapting to changing customer expectations. Holistic Information Security:Compliance Programs: MSPs assist in establishing robust compliance programs. They conduct internal audits, manage vendor risk, and ensure alignment with industry standards. Risk Mitigation: By addressing vulnerabilities and enhancing security controls, MSPs help financial firms mitigate risks associated with data breaches, fraud, and operational disruptions. In summary, MSPs empower financial businesses by providing expertise, technology, and strategic support. #MSP #FinancialServices #RiskManagement #ComplianceExcellence #Innovation #BusinessGrowth

🌐 Navigating Financial Regulation and Digital Security: #DORA Insights! 🚀 In adapting to ICT and Cyber risks, adherence to two principles is vital: 1. Accountability Principle: Document and justify ICT and Cyber risk strategies. 2. Proportionality Principle: Choose measures aligned with business needs, scale, and resources. Certain provisions exclusively apply to non-micro enterprise financial entities, emphasizing governance, assessments after infrastructure changes, and regular risk analysis in existing ICT systems. 🌟 DORA Regulation Innovations: A Year In 🕰️ The regulatory framework, intricate and focused on key principles, challenges the financial sector to address the rising risks and threats tied to digital services. The DORA Regulation provides targeted guidance, emphasizing governance, third-party management, and information sharing. 🌐On January 17, the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA) have released the definitive technical standards, a strategic move to boost digital operational #resilience in finance. 📊 Key Standards: - Frameworks for ICT risk management. - Criteria for classifying ICT-related incidents. - Policies for critical ICT functions from third-party providers. - Standards for defining the information register. 🔗 Dive into the standards and consult them here: https://lnkd.in/daufxCfy Amidst the surge in cyber attacks, entities must establish effective policies and procedures. Stay resilient! 💼💻 #DORARegulation #FinancialSecurity #DigitalResilience #RiskManagement #CyberSecurity

With security software and services spending surging more quickly than budgets, CISOs are becoming risk management orchestrators with staff reshaping their focus on oversight, strategic planning, and integration, experts predict