Is your Organisation FSC Compliant?

Financial Services Commission (FSC) has set out the guiding principles with regards to Cyber Security Risk Governance that request Management Companies to comply with these whilst carrying out their business activities.

FSC expects a minimum Cyber Security Risk Governance covering IT Audit, Vulnerability Assessment & Penetration Testing and Contingency Planning.  

With a strong team of security professionals having experience working with Management Companies, BIRGER. has tailored a Cyber Security Risk Assessment Approach to be FSC Compliant. 

As detailed in the Circular Letter reference CL210819, FSC will expect the following from Management Companies:

• understanding of the cyber risks, vulnerabilities and impact associated in running their businesses, with supporting documentation; 
• putting into place appropriate policies and procedures duly approved by the board to mitigate the risks; 
• carrying out an annual cyber security risk assessment which is reported to the board; 
• conducting regular IT audit and addressing identified loopholes accordingly; 
• conducting penetration testing to ensure that their systems are not vulnerable or susceptible to cyber-attacks; 
• putting in place appropriate contingency arrangements that they can be deployed in the event of a cyber-attack, including but not limited, maintaining service levels for clients and informing relevant parties and authorities about the attack and its impact; and 
• running a comprehensive technology risk and cyber security training programme at all levels.

Source: FSC

With a strong team of security professionals having experience working with Management Companies, BIRGER. has tailored a Cyber Security Risk Assessment Approach to to be FSC Compliant. 

Click here for more details on our Cyber Security Services.

For more information on the topic and our Cyber Security Solutions & Services, please contact us by mail security@birger.technology.