Mobile banking usage by
consumers has become a common
process for Americans and an
expected offering from a financial
institution. Apps for mobile
banking have become some of the
most widely-used applications,
according to Citi's 2018 Mobile
Banking Study. Mobile banking
usage has increased by over 50%
from the previous year's survey.
In addition to mobile banking,
more and more FinTech solutions
are coming to the market for
consumers to leverage. All of this
creates both opportunity and risk
for financial institutions. Mobile
Banking, Mobile Payments, and
FinTech solutions are top of mind
as financial institutions evaluate
which mobile financial services
are right for their customers.
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.
What You Will Learn:
- 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.
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