Financial Insitutions face a wide range of operational, strategic and regulatory challenges.In New York State, the New York State Department of Financial Services 23NYCRR500 Law requires any Person operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization under the Banking Law, the Insurance Law or the Financial Services Law of New York State to comply with the regulation. This includes Insurance Companies
This is important because it is not optional. You could lose your license to operate in New York State if you do not comply.
How can we help? We can perform a DFS Security Assessment
Identify Gaps in DFS Compliance
Develop a roadmap for remediating gaps in DFS compliance.
Pass an audit – Find problem areas so you can make adjustments before DFS sends auditors.
The DFS Security Assessment includes:
Internal & External Vulnerability Assessment – Identifies vulnerabilities in the technical environment and develops a prioritized remediation report with recommendations for how to remediate vulnerabilities.
What‐If Threat Simulation – We work with the Covered Entity to go over various attack scenarios. The goal is to ask “what would happen if…?” and identify areas in procedural security where the Covered Entity needs to bolster their controls.
Policy and Controls Review – We review existing policies and controls and looks for gaps that would result in failing DFS compliance. A roadmap for compliance will be provided and presented.
Risk Evaluation – We gather information about the business and how it operates. Workflows, data, and systems are mapped out and risk values and statements are assigned. An information security plan will be created to document initiatives for the upcoming year.
Security Plan – Based on the Risk Evaluation, we create a custom security plan designed to meet § 500.02 "Cybersecurity Program”. The document will serve as a roadmap built according to your unique risk, resources, and business environment.
Working together with you, we work to safeguard your assets, protect your reputations, and allow you to pursue your strategic and fiscal objectives with confidence.
Contact CDSystems so you can focus on the business of making money!