Increasing compliance requirements
“The dependency of core and value-added processes on the IT infrastructure and the IT systems operated there is constantly increasing at banks. The associated compliance requirements are increasing almost to the same extent”. In an article recently published on the specialist platform “Security Insider”, SRC expert Dagmar Schoppe explains the various regulatory and legal requirements that determine the day-to-day business of credit institutions and how IT compliance can be improved by introducing an ISMS.
Value creation processes are under threat
Protecting these value creation processes by complying with regulatory and legal requirements, e.g. from BAIT, MaRisk or the IT Security Act, is a very topical issue. After all, the risk of hacker attacks is a real and present danger. This is another reason why IT security is one of BaFin’s key audit priorities. The TIBER-EU program, which aims to strengthen the resilience of the financial world against cyber attacks, is also aimed in this direction.
Holistic information security management system creates security
For a holistic approach to protecting company assets, the various organizational and technical aspects must be combined into a holistic concept. This leads to the introduction of an information security management system, e.g. on the basis of ISO 27001.
The experts in SRC’s Banking Compliance division will be happy to advise you on regulatory and legal requirements and their implementation, e.g. by introducing an information security management system (ISMS) or carrying out TIBER tests. SRC is a member of the Cyber Alliance.
