FFIEC Authentication Guidance: FDIC on Understanding and Conforming with the 2011 Update

Presented by ISMG 90 Minutes

In the wake of devastating cyber attacks and fraud losses to banking institutions and customers, the FFIEC has issued its first online authentication guidance since 2005. Banking regulators will begin assessing institutions by this new guidance in 2012, so it's imperative to attend this session and gain expert insight from one of the supplement's key authors, Jeff Kopchik of the FDIC, on:

How the 2011 guidance differs from 2005's;
The core elements of the new guidance, including risk assessments, layered security, multifactor authentication and customer awareness;
Strategies for protecting commercial/retail customers and satisfying the guidance.

Following the main presentation, Kopchik will join Matthew Speare of M&T Bank for an open discussion of what this new guidance means for banking institutions.

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, Jeff Kopchik of the FDIC - one of the primary authors of the new guidance - will detail the document's key tenets and the new expectations for banking institutions. Among his points of discussion:

The FFIEC's intent behind this supplement;
New expectations for banking institutions;
What to expect from your examiner in 2012.

Following the main presentation, Kopchik will join Matthew Speare of M&T Bank for an open discussion of what this new guidance means for banking institutions.