Banks, credit unions, broker-dealers, RIAs, fintechs, and insurance organizations operate under one of the densest regulatory frameworks in any industry — and the cybersecurity component of that framework has expanded rapidly. From FFIEC examination guidance to NYDFS Part 500 to state-level data breach notification rules, financial institutions are expected to demonstrate mature, documented, continuously improving cybersecurity programs.
Cleared Systems supports financial institutions in building examiner-ready compliance programs, conducting risk assessments aligned to FFIEC and NIST frameworks, and providing fractional CISO advisory for organizations that need senior security leadership without a full-time hire.
Key Compliance Challenges
- NYDFS Part 500 compliance: Meeting the cybersecurity program, CISO, risk assessment, multi-factor authentication, and 72-hour incident reporting requirements imposed on covered entities operating in New York.
- FFIEC examination readiness: Demonstrating to examiners that the institution's cybersecurity program is appropriate for its size, complexity, and risk profile — and that it is operating as documented.
- GLBA Safeguards Rule: Implementing the FTC's updated Safeguards Rule requirements, including written information security programs and qualified individual designation.
- Third-party and fintech risk: Managing the cybersecurity risk introduced by core processors, fintech partnerships, API integrations, and outsourced service providers.
Regulatory Frameworks
- NYDFS 23 NYCRR Part 500 — New York cybersecurity regulation
- FFIEC IT Examination Handbook — Federal examiner guidance
- FFIEC Cybersecurity Assessment Tool (CAT)
- GLBA Safeguards Rule (16 CFR Part 314) — Updated 2023
- NIST Cybersecurity Framework — Financial services profile
- SOX (for public companies) — IT general controls
- PCI DSS — Where card data is handled
How We Help
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We work with Financial Institutions organizations to navigate their unique regulatory landscape.
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