ISA understands that the Financial Services industry is both one of the major targets of cyber attacks and one of the greatest resources of expertise for fighting cyber crime.
Two of ISA’s past Board Chairmen have been from the financial services industry: Paul Smocer, VP of Mellon Financial (now BNY Mellon), and Ty Sagalow of Zurich Insurance.
ISA has historically focused on the financial aspects of cyber security as well as the technical and public policy issues. Following the publication of the “Financial Impact of Cyber Risk: 50 Questions Every CFO Should Ask” (link to location on “Publications” page), ISA was asked to brief the Federal Deposit Insurance Corporation (FDIC) on the ISA approach to cyber security.
ISA is currently extending this analysis through a series of nationwide workshops on the financial management of cyber risk, with an event in New York City that is being scheduled for January 2013 that focuses specifically on what can be learned from the financial services industry.