SITUATION
A leading global financial services group wanted to ensure their compliance with cybersecurity and operational resilience laws, rules, regulations, and applicable guidance issued within their operating jurisdictions, especially in the context of the European DORA regulation. The firm engaged FTI Cybersecurity to support with developing a Cyber and Operational Resilience program, and to develop a strategy and process for a full threat-led penetration test and red team assessment to validate control and process effectiveness.
OUR ROLE
FTI Cybersecurity leveraged industry-leading standards to support the firm in developing a program that leveraged asset criticality and existing security processes. The FTI Cybersecurity team conducted meetings with key internal departments, including cyber threat intelligence, vulnerability management, the Security Operations Center, and crisis simulation leads, to define a valuable program that not only helped the business meet compliance requirements but also aligned to effective internal risk management processes. The program included a redesign of the red team simulation and penetration test planning and reporting process and defined a risk-based approach to carry out follow up and remediation activities, including an internal process update.
OUR IMPACT
The new assessment program developed by FTI Cybersecurity defined the overall governance structure for the firm and identified drivers to build business cases for testing based on the criticality of assets, value to the business, and regulatory requirements. The program outlined test methodology, tools, scope statements, and management control processes, and revised the minimum reporting requirements for internal stakeholders. These updates enabled the effective management of vulnerability remediation across a variety of tests, from crisis simulations to vulnerability assessments.