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New FedLine Security Requirements – What You and Your Institution Need to Know

The Federal Reserve began notifying financial institutions in early 2021 regarding new FedLine security requirements.

OnDemand
Recorded Wednesday,
October 6th, 2021
Presented by Chad Knutson
1h 30m total length
2 CEU Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Risk Management/Legal
  • Board Member
  • Compliance Officer
  • Internal Auditor
  • IT Professional
  • Privacy Officer/Information Security Professional
  • Risk Manager
  • Security Officer
  • Senior Management

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The Federal Reserve began notifying financial institutions in early 2021 regarding new FedLine security requirements. FedLine Solutions have been identified as a critical component of the U.S. electronic payments system and efforts to secure this system are increasing as cybercrimes continue to increase in complexity and frequency. The Federal Reserve has many layered controls and embedded security components in the FedLine service, but each organization plays a vital role in safeguarding the payment messages and information that are transmitted over FedLine. The Federal Reserve Security and Resiliency Assurance Program “Assurance Program” consists of two major components:

  • Assessing your compliance with FedLine security requirements
  • Submit an attestation of your compliance

Organizations will need to complete these components during the 2021 calendar year. Moving forward financial institutions are required to complete the program annually.

What You'll Learn

  • Detailed requirements required to complete in 2021
  • Compliance preparation into 2022
  • Review of specific “FedLine Security Requirements”
  • Understanding of when institutions must have their controls independently audited
  • Observation around current regulatory comments and actions

We will also be providing attendees a toolkit which will provide guidance of the Federal Reserve FedLine Assurance Program.

Who Should Attend

Your institution’s End User Authorized Contacts (EUACs), Information Security Officer, IT Manager, Risk Officer, Internal Auditor, Board members, or other management team members looking for a solid understanding of the assessment process and how it will improve security around the FedLine system.

Chad Knutson

Instructor Bio

Chad Knutson is a co-founder and Senior Information Security Consultant for SBS CyberSecurity, a premier cybersecurity consulting and audit firm dedicated to making a positive impact on the banking and financial services industry, and has served as President of the SBS Institute since 2013. Chad maintains his CISSP, CISA, and CRISC certifications, and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance from Dakota State University.

Chad is dedicated to educating industry professionals about cybersecurity. While consulting with financial institutions, he saw the need to empower employees to be better prepared to confidently handle cybersecurity threats, create and manage strong information security programs, and understand ever-changing regulations at their institution. He was a driving force in the development of the SBS Institute certification program, which is uniquely designed to serve the banking industry by providing banking specific, role-based certifications cyber education. The SBS Institute has grown to include over ten certifications and State Association partners in over 30 states.

Continuing Education Credit Information

Recommended for 2 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.

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