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FFIEC Mobile Services Guidance Review

Thursday, May 10th, 2018

10:00 am - 12:00 pm CT

Length: 2 hours                    Sponsored by Bank Webinars

Click Here to register $265.00

Click Here to register and receive CD recording $395.00

According to a Federal Reserve Board Report, 87% of Americans utilize a mobile phone. Of those with a bank account, 43% of mobile users have utilized mobile banking in the previous year. Within mobile banking, 58% move money between accounts, 48% deposit checks, and 47% conduct Bill Pay.

They also see the growth of mobile banking and payment solutions continuing to rise. Apple Pay, Android Pay, and Samsung Pay taking on more transactions, with 33% of mobile users saying they have conducted an instore purchase with their device.

For financial institutions, the strategic value of mobile financial services must be balanced with appropriate risk management. This needs to occur during the strategic planning stages, product selection, and ongoing monitoring of existing solutions.

In 2016, the FFIEC released Appendix E: Mobile Financial Services in an update to the Retail Payments Booklet. It brings clear risk identification, measurement, and management expectations to financial institutions. We will discuss the expectations within the FFIEC Retail Payments Booklet.

In addition to the guidance, we will explore applied risk management concepts for mobile banking solutions. Focus will include Mobile Risk Assessments, integration into Information Security Programs, Third Party Risk Management, and effective IT Auditing.

Topics Will Include:

  • Mobile Financial Services Technologies
  • Risk Identification
  • Risk Measurement
  • Risk Mitigation
  • Monitoring and Reporting

Who Should Attend?

Fundamental background information for the Executive team involved in mobile initiatives. Information Security Officer, IT Auditor, Risk Officers, Compliance Officers, and IT Management looking to understand or improve current risk management practices around mobile banking.

Instructor

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.