As part of the RIA compliance consultant usa services, I am sharing with you a very informative article prepared by Linda Conrad, Director of Strategic Risk Zurich Global Corporate North America on what your stress test should look like as you test your firm’s cyber security policies as well as your business continuity plan. Click here for the article titled Anatomy of a cyber risks stress test.
The key takeaways from the article are:
- A cyber stress test can identify weak points in business continuity and incident response plans.
- Organized properly, a cyber stress will have a C-Suite “sponsor” who can elevate findings to the board level for action, and drive mitigation changes at the operational level.
- Along with protecting data, bold scenario planning requires the test to include consideration of the broader impacts of a potential business blackout cyber event.
- You’ll find room for improvement in how you respond to cyber risks-and that’s the point of building resilience.
I encourage all registered investment advisors (RIA) to read through each of the points made in this informative article. It is a great road map for your RIA compliance services in determining if your investment advisory firm is in compliance with your cyber security policies and procedures as well as your business continuity plan. If you do not have a cyber security or business continuity plan in place, contact Registered Advisor Services today for our assistance!