Cyber Risk For The Financial Sector A Framework For Quantitative Assessment
DOWNLOAD eBooks
Download Cyber Risk For The Financial Sector A Framework For Quantitative Assessment PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Cyber Risk For The Financial Sector A Framework For Quantitative Assessment book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Cyber Risk For The Financial Sector A Framework For Quantitative Assessment
DOWNLOAD eBooks
Author : Antoine Bouveret
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-22
Cyber Risk For The Financial Sector A Framework For Quantitative Assessment written by Antoine Bouveret and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-22 with Computers categories.
Cyber risk has emerged as a key threat to financial stability, following recent attacks on financial institutions. This paper presents a novel documentation of cyber risk around the world for financial institutions by analyzing the different types of cyber incidents (data breaches, fraud and business disruption) and identifying patterns using a variety of datasets. The other novel contribution that is outlined is a quantitative framework to assess cyber risk for the financial sector. The framework draws on a standard VaR type framework used to assess various types of stability risk and can be easily applied at the individual country level. The framework is applied in this paper to the available cross-country data and yields illustrative aggregated losses for the financial sector in the sample across a variety of scenarios ranging from 10 to 30 percent of net income.
Sweden
DOWNLOAD eBooks
Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-04-05
Sweden written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-05 with categories.
Sweden: Financial Sector Assessment Program-Technical Note on Cybersecurity Risk Supervision and Oversight
Financial Cybersecurity Risk Management
DOWNLOAD eBooks
Author : Paul Rohmeyer
language : en
Publisher: Apress
Release Date : 2018-12-13
Financial Cybersecurity Risk Management written by Paul Rohmeyer and has been published by Apress this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-13 with Computers categories.
Understand critical cybersecurity and risk perspectives, insights, and tools for the leaders of complex financial systems and markets. This book offers guidance for decision makers and helps establish a framework for communication between cyber leaders and front-line professionals. Information is provided to help in the analysis of cyber challenges and choosing between risk treatment options. Financial cybersecurity is a complex, systemic risk challenge that includes technological and operational elements. The interconnectedness of financial systems and markets creates dynamic, high-risk environments where organizational security is greatly impacted by the level of security effectiveness of partners, counterparties, and other external organizations. The result is a high-risk environment with a growing need for cooperation between enterprises that are otherwise direct competitors. There is a new normal of continuous attack pressures that produce unprecedented enterprise threats that must be met with an array of countermeasures. Financial Cybersecurity Risk Management explores a range of cybersecurity topics impacting financial enterprises. This includes the threat and vulnerability landscape confronting the financial sector, risk assessment practices and methodologies, and cybersecurity data analytics. Governance perspectives, including executive and board considerations, are analyzed as are the appropriate control measures and executive risk reporting. What You’ll Learn Analyze the threat and vulnerability landscape confronting the financial sector Implement effective technology risk assessment practices and methodologies Craft strategies to treat observed risks in financial systemsImprove the effectiveness of enterprise cybersecurity capabilities Evaluate critical aspects of cybersecurity governance, including executive and board oversight Identify significant cybersecurity operational challenges Consider the impact of the cybersecurity mission across the enterpriseLeverage cybersecurity regulatory and industry standards to help manage financial services risksUse cybersecurity scenarios to measure systemic risks in financial systems environmentsApply key experiences from actual cybersecurity events to develop more robust cybersecurity architectures Who This Book Is For Decision makers, cyber leaders, and front-line professionals, including: chief risk officers, operational risk officers, chief information security officers, chief security officers, chief information officers, enterprise risk managers, cybersecurity operations directors, technology and cybersecurity risk analysts, cybersecurity architects and engineers, and compliance officers
Cyber Risk And Financial Stability
DOWNLOAD eBooks
Author : Frank Adelmann
language : en
Publisher: International Monetary Fund
Release Date : 2020-12-07
Cyber Risk And Financial Stability written by Frank Adelmann and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-07 with Business & Economics categories.
The ability of attackers to undermine, disrupt and disable information and communication technology systems used by financial institutions is a threat to financial stability and one that requires additional attention.
Operational Risk Modeling In Financial Services
DOWNLOAD eBooks
Author : Patrick Naim
language : en
Publisher: John Wiley & Sons
Release Date : 2019-03-28
Operational Risk Modeling In Financial Services written by Patrick Naim and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-28 with Business & Economics categories.
Transform your approach to oprisk modelling with a proven, non-statistical methodology Operational Risk Modeling in Financial Services provides risk professionals with a forward-looking approach to risk modelling, based on structured management judgement over obsolete statistical methods. Proven over a decade’s use in significant banks and financial services firms in Europe and the US, the Exposure, Occurrence, Impact (XOI) method of operational risk modelling played an instrumental role in reshaping their oprisk modelling approaches; in this book, the expert team that developed this methodology offers practical, in-depth guidance on XOI use and applications for a variety of major risks. The Basel Committee has dismissed statistical approaches to risk modelling, leaving regulators and practitioners searching for the next generation of oprisk quantification. The XOI method is ideally suited to fulfil this need, as a calculated, coordinated, consistent approach designed to bridge the gap between risk quantification and risk management. This book details the XOI framework and provides essential guidance for practitioners looking to change the oprisk modelling paradigm. Survey the range of current practices in operational risk analysis and modelling Track recent regulatory trends including capital modelling, stress testing and more Understand the XOI oprisk modelling method, and transition away from statistical approaches Apply XOI to major operational risks, such as disasters, fraud, conduct, legal and cyber risk The financial services industry is in dire need of a new standard — a proven, transformational approach to operational risk that eliminates or mitigates the common issues with traditional approaches. Operational Risk Modeling in Financial Services provides practical, real-world guidance toward a more reliable methodology, shifting the conversation toward the future with a new kind of oprisk modelling.
Cyber Risk Market Failures And Financial Stability
DOWNLOAD eBooks
Author : Emanuel Kopp
language : en
Publisher: International Monetary Fund
Release Date : 2017-08-07
Cyber Risk Market Failures And Financial Stability written by Emanuel Kopp and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-07 with Computers categories.
Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk.
Managing Cyber Risk In The Financial Sector
DOWNLOAD eBooks
Author : Ruth Taplin
language : en
Publisher: Routledge
Release Date : 2016-01-22
Managing Cyber Risk In The Financial Sector written by Ruth Taplin and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-22 with Computers categories.
Cyber risk has become increasingly reported as a major problem for financial sector businesses. It takes many forms including fraud for purely monetary gain, hacking by people hostile to a company causing business interruption or damage to reputation, theft by criminals or malicious individuals of the very large amounts of customer information (“big data”) held by many companies, misuse including accidental misuse or lack of use of such data, loss of key intellectual property, and the theft of health and medical data which can have a profound effect on the insurance sector. This book assesses the major cyber risks to businesses and discusses how they can be managed and the risks reduced. It includes case studies of the situation in different financial sectors and countries in relation to East Asia, Europe and the United States. It takes an interdisciplinary approach assessing cyber risks and management solutions from an economic, management risk, legal, security intelligence, insurance, banking and cultural perspective.
South Africa Financial Sector Assessment Program Technical Note On Cybersecurity Risk Supervision And Oversight
DOWNLOAD eBooks
Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-17
South Africa Financial Sector Assessment Program Technical Note On Cybersecurity Risk Supervision And Oversight written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-17 with Business & Economics categories.
Cybersecurity risk continues to grow both in complexity and severity and is a function of an increasingly open and interconnected cyber and financial ecosystem. The South African financial system has a long history of incorporating technology and as for many financial systems across the globe, digitalization has become a strategic priority. For risk management to keep pace with the dynamic nature of cyber threats and threat agents, systemically important financial institutions (SIFIs) have made substantial investments in cyber resilience programs (e.g., establishing cyber strategies, frameworks, and governance structures). Consistent with many jurisdictions, and partly a result of widespread remote working arrangements implemented in response to the global pandemic, cybersecurity threats to financial stability increased. However, high standards of risk management meant threats did not materialize into significant losses and/or disruptions.
Cybersecurity Risk Supervision
DOWNLOAD eBooks
Author : Christopher Wilson
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-24
Cybersecurity Risk Supervision written by Christopher Wilson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-24 with Computers categories.
This paper highlights the emerging supervisory practices that contribute to effective cybersecurity risk supervision, with an emphasis on how these practices can be adopted by those agencies that are at an early stage of developing a supervisory approach to strengthen cyber resilience. Financial sector supervisory authorities the world over are working to establish and implement a framework for cyber risk supervision. Cyber risk often stems from malicious intent, and a successful cyber attack—unlike most other sources of risk—can shut down a supervised firm immediately and lead to systemwide disruptions and failures. The probability of attack has increased as financial systems have become more reliant on information and communication technologies and as threats have continued to evolve.
2021 Financial Sector Assessment Program Review Background Paper On Quantitative Analysis
DOWNLOAD eBooks
Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-28
2021 Financial Sector Assessment Program Review Background Paper On Quantitative Analysis written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-28 with Business & Economics categories.
This paper reviews quantitative tools of financial stability assessments under the Financial Sector Assessment Program (FSAP). A key focus of FSAPs is on methodologies to gauge risks on a system-wide level and propose mitigating measures. Therefore, the paper concentrates on the main elements of the FSAP’s macroprudential stress testing framework:(i) the interaction among solvency, liquidity, and contagion risks in the banking sector, (ii) the assessment of the health of nonbank financial institutions (NBFIs), their interactions with banks and their impact on financial markets, (iii) the assessment of the health of nonfinancial sectors and their links to the financial sector, and (iv) macroprudential policy analysis. The paper also reviews recent improvements in microprudential bank solvency stress testing—an important foundation for the macroprudential stress testing framework—and discusses new tools for emerging risks (climate change, fintech, and cyber).