Financial Industry Cybersecurity Services
The Financial Industry is under intense pressure to provide fast and reliable products and services to their customers while ensuring security controls are implemented to protect sensitive data and adhere to rigorous regulatory scrutiny. The most prevalent cybersecurity challenges for Financial Institutions include satisfying evolving compliance mandates, managing Third-Party risk, ensuring the protection of sensitive information, data security, and protecting against emerging threats. Our cybersecurity services tailored specifically for the Financial Industry include:
Governance and Compliance
Whether it is establishing an Enterprise Risk Management (ERM) foundation or performing continuous monitoring and risk mitigation, many Financial Institutions struggle to balance priorities associated with the prevention, detection and response to an evolving cyberspace threat landscape. MindPoint Group can assist you with establishing a comprehensive cybersecurity program to safeguard your assets and sensitive information. Our Governance and Compliance services include:
- Regulatory Compliance – Implement enterprise cybersecurity and privacy program policies, procedures, and guidelines that meets regulatory compliance requirements, i.e. Gramm-Leach-Bliley Act (GLBA), Control Objectives for Information and Related Technologies (COBIT), National Institute of Standards and Technology (NIST), Sarbanes Oxley (SOX), and Payment Card Industry Data Security Standard (PCI DSS), Identity Credential and Access Management (ICAM) – Conducting privileged access reviews of internal applications, platforms, and databases for the enterprise.
- Security Assessments – Perform security assessments and develop security control test plan, execute test objectives, conduct risk analysis, and develop corrective actions plans.
Third-Party Risk Management
The breadth and complexity of Third-Party vendor relationships is steadily growing, and the potential impact for poor governance and oversight could be catastrophic. At MindPoint Group, we are highly experienced with developing and supporting a robust third-party risk management program. Our services include:
- Third-Party Risk Management Program – Establish a quantitative risk management methodology to better identify inherent risk and have an eye towards risk scenarios with discrete loss outcomes.
- Third-Party Risk and Control Assessments – Support more effective third-party vendor governance through the execution of risk and control assessments.
- Third-Party Program Maturity Model Assessments – Evaluate a Financial Institution’s ability to meet the criteria provided by regulatory bodies (FFIEC Cybersecurity Assessment Tool, FFIEC IT Exam handbooks, OCC guidance).
Privileged Access and Identity Management
Technical security expertise to assist Financial Sector Clients with conducting privileged access reviews on its internal applications, platforms, and databases for the enterprise. We support Financial Sector Clients with enhancing access control policy, process and compliance, establishing requirements for implementing password vaulting with Privileged Identity Management (PIM) Technology, and developing documentation to support the installation of an enterprise PIM tool (Cyber-Ark), support an enterprise PIM tool deployment, and conduct a Proof of Concept with PIM tool.
Proactive Security Services
Evaluate current security posture of financial sector clients to reduce the risk of compromise.
- Technical Security Assessment – High-level discovery and inspection of vulnerabilities across the enterprise
- Application Security – Analyze source code and live applications to uncover vulnerabilities and ensure secure coding practices are followed
- Penetration Testing – Simulate tools and techniques hackers utilize to gain unauthorized access
- Social Engineering – Gain valuable insight to employee security awareness and susceptibility to external threats
Security Engineering and Architecture
Effective security architecture and engineering in your organization means deploying systems with appropriate security mechanisms built-in. MindPoint Group can design the security of your infrastructure and systems, identify security best practices and secure alternatives, and deploy solutions and technologies to enhance security of networks and endpoints across your enterprise. Our Security Engineering and Architecture services include:
- Security Architecture – Develop Reference Architectures aligning cybersecurity requirements with established financial sector control frameworks.
- Platform Hardening – Develop and implement secure configuration baselines for applications, platforms, and infrastructures.
- Proof of Concept – Engineering emerging technologies to demonstrate how systems and networks can minimize risk within the environment.
- Develop, Deploy and Manage Enterprise Technologies – Develop security best practices blueprint based on proven technology concepts and provide secure solutions to protect the confidentiality, integrity, and availability of sensitive information.
Reduce Your Risk
Regardless of the cybersecurity drivers affecting your organization, our experienced subject matter experts can assist you with developing and maintaining a robust cybersecurity program.