Regulatory Alerts2024-11-18
Added · Updated
Management of IT, Information Security, and Cyber Defense Risks
The Banking Supervision Department issued this directive to mandate that banking corporations integrate IT, information security, and cyber defense risk management into their overall corporate governance and operational risk frameworks. The regulation requires institutions to establish robust risk management processes, define clear roles for senior management and CISOs, and implement comprehensive controls to protect the confidentiality, integrity, and availability of information assets. It further obligates banks to maintain operational resilience through effective incident management, third-party risk oversight, and business continuity planning to withstand technological disruptions and cyber attacks.
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