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FFIEC Authentication Guidance: How to Prepare for Your Next Exam

FFIEC Authentication Guidance: How to Prepare for Your Next Exam
Upon issuing its 2011 update to online authentication guidance, the FFIEC put banking institutions on notice: Examiners will assess how institutions satisfy these enhanced expectations starting in January 2012. So, how best should banking/security leaders go about meeting these new directives and ensuring the security of their retail and commercial customers?

Join a veteran banking/security leader for advice on:

  • How to assess your institution's current level of compliance with the new directives;
  • What "layered security" means in practical terms;
  • Conducting effective risk assessments and customer awareness campaigns;
  • How to differentiate security controls between commercial and consumer accounts.

See Also: Key Trends in Payments Intelligence: Machine Learning for Fraud Prevention

The entire FFIEC Guidance series:

Background

The Federal Financial Institutions Examination Council has formally released the long-awaited supplement to its "Authentication in an Internet Banking Environment" guidance, which was first issued by the FFIEC in October 2005. Formal assessments for compliance with the new guidance will begin in January 2012.

The purpose of the supplement is to reinforce the risk-management framework described in the original guidance and update the FFIEC member agencies' supervisory expectations regarding customer authentication, layered security, and other controls in the increasingly hostile online environment.

The official supplement highlights the need for:

  • Better risk assessments;
  • Effective strategies for mitigating known online risks;
  • Improved customer and employee fraud awareness.

In this exclusive session, Matthew Speare of M&T Bank will outline a strategy for how to prepare for your next regulatory examination. Among his points of discussion:

  • An overview of the FFIEC update - highlighted items that banks should be concerned about;
  • Which technology solutions you should consider to bolster your case for complying with the guidelines;
  • Positioning yourself for success with the regulators. (ie, how to "prove" you are in compliance).

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