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Cyber risk management

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Definitions Edit

Financial market Edit

Cyber risk management is

[t]he process used by an FMI to establish an enterprise-wide framework to manage the likelihood of a cyber attack and develop strategies to mitigate, respond to, learn from and coordinate its response to the impact of a cyber attack. The management of an FMI's cyber risk should support the business processes and be integrated in the FMI's overall risk management framework.[1]

General Edit

Cyber risk management

seeks to influence human behaviour and norms, as well as technical controls and machine-to-machine interactions, and aims to coordinate activities and processes to prevent unwanted consequences.[2]

References Edit

  1. Guidance on Cyber Resilience for Financial Market Infrastructures, App. A, at 24.
  2. Partnering for Cyber Resilience: Risk and Responsibility in a Hyperconnected World-Principles and Guidelines, at 14.

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