The FFIEC Cybersecurity Assessment Tool (CAT) was developed by the Federal Financial Institutions Examination Council (FFIEC) to help financial institutions identify their cybersecurity risks and determine their preparedness. The tool was created in response to the increasing volume and sophistication of cyber threats, providing a standardized method for institutions to assess and improve their cybersecurity posture.
The CAT was designed to offer a repeatable and measurable process for financial institutions to evaluate their cybersecurity readiness. By using this tool, institutions can gain insights into their risk levels and maturity, enabling them to make informed decisions about their cybersecurity strategies. The tool helps institutions align their cybersecurity practices with regulatory expectations and industry standards, ultimately enhancing their ability to protect sensitive information and maintain operational resilience.
Evaluates the institution's current cybersecurity practices and controls, identifying gaps and areas for improvement to ensure robust security measures.
Assesses the institution's exposure to cybersecurity risks based on factors like technologies, connection types, delivery channels, and external threats.
Evaluates maturity levels across key domains like Cyber Risk Management, Threat Intelligence, Cybersecurity Controls, and Incident Management.
Gain a comprehensive understanding of cybersecurity risks and take proactive measures to mitigate them.
Improve cybersecurity practices and controls, aligning them with regulatory expectations and industry standards.
Simplify the process of demonstrating compliance with cybersecurity regulations and guidelines.
Use assessment results to make informed decisions about cybersecurity investments and strategies.
In summary, the FFIEC Cybersecurity Assessment Tool (CAT) is a valuable resource for financial institutions seeking to enhance their cybersecurity readiness and resilience. By assessing their inherent risks and maturity levels, institutions can develop effective strategies to protect their information assets and maintain compliance with regulatory requirements.