Bank Cybersecurity Risk Assessment and Controls Checklist

This comprehensive bank cybersecurity risk assessment and controls checklist ensures regulatory compliance with FFIEC, FDIC, OCC, NIST, GLBA. Annual cybersecurity risk assessment and control validation for financial institutions covering network security, endpoint protection, incident response, vendor risk, and regulatory compliance per FFIEC Cybersecurity Assessment Tool (CAT), NIST CSF, GLBA Safeguards Rule (16 CFR Part 314), and NY DFS 23 NYCRR 500 cybersecurity requirements.. Complete all se

  • Industry: Financial Services & Banking
  • Frequency: Monthly / Quarterly
  • Estimated Time: 60 minutes
  • Role: Compliance Officer / Branch Manager
  • Total Items: 19
  • Compliance: FFIEC, FDIC, OCC, NIST, GLBA

Cybersecurity Governance

Verify governance per FFIEC CAT Governance Domain.

  • Is a qualified Chief Information Security Officer (CISO) or equivalent designated per GLBA and NY DFS requirements?
  • Does board of directors receive cybersecurity risk reports at least annually with meaningful metrics?
  • Is written Information Security Program in place meeting GLBA Safeguards Rule 16 CFR Part 314 requirements?
  • Is cybersecurity risk assessment conducted at least annually and when significant changes occur?
  • Are cybersecurity policies reviewed and approved by senior management annually?

Technical Security Controls

Verify technical controls per NIST CSF and FFIEC CAT.

  • Is multi-factor authentication required for all remote access, privileged accounts, and customer-facing banking per FFIEC?
  • Is customer financial data encrypted at rest and in transit using NIST-approved cryptographic algorithms?
  • Is vulnerability/patch management program in place applying critical security patches within 30 days?
  • Is endpoint detection and response (EDR) deployed on all employee devices to detect malicious activity?
  • Are email security controls (SPF, DKIM, DMARC, anti-phishing) deployed to prevent email-based attacks?

Incident Response Preparedness

Verify incident response per FFIEC and NY DFS requirements.

  • Is written Incident Response Plan current and tested with tabletop exercise within past 12 months?
  • Is process in place to notify OCC/FDIC/Federal Reserve within 36-72 hours of a significant cyber incident per OCC guidelines?
  • If NY-regulated, is NY DFS 72-hour cybersecurity event notification procedure documented per 23 NYCRR 500.17?
  • Is customer breach notification procedure in place meeting GLBA and state notification law timeframes?
  • Is forensic investigation capability available (internal or contracted) for incident investigation?

Third-Party and Vendor Risk

Verify vendor risk per FFIEC IT Examination Handbook.

  • Are all critical technology vendors subject to cybersecurity risk assessment before engagement?
  • Are core banking and payment system providers required to provide SOC 2 Type II or equivalent annual reports?
  • Do vendor contracts include cybersecurity requirements, incident notification, right to audit, and data return/deletion?
  • Is fourth-party (subcontractor) risk assessed for critical vendors per FFIEC guidance?

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Why Use This Bank Cybersecurity Risk Assessment and Controls Checklist?

This bank cybersecurity risk assessment and controls checklist helps financial services & banking teams maintain compliance and operational excellence. Designed for compliance officer / branch manager professionals, this checklist covers 19 critical inspection points across 4 sections. Recommended frequency: monthly / quarterly.

Ensures compliance with FFIEC, FDIC, OCC, NIST, GLBA, NY DFS 23 NYCRR 500. Regulatory-aligned for audit readiness and inspection documentation.

Frequently Asked Questions

What does the Bank Cybersecurity Risk Assessment and Controls Checklist cover?

This checklist covers 19 inspection items across 4 sections: Cybersecurity Governance, Technical Security Controls, Incident Response Preparedness, Third-Party and Vendor Risk. It is designed for financial services & banking operations and compliance.

How often should this checklist be completed?

This checklist should be completed monthly / quarterly. Each completion takes approximately 60 minutes.

Who should use this Bank Cybersecurity Risk Assessment and Controls Checklist?

This checklist is designed for Compliance Officer / Branch Manager professionals in the financial services & banking industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.

Can I download this checklist as a PDF?

Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.

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