The FSCA and the Prudential Authority (PA) this month published the principles with which financial institutions must comply to achieve sound practices and processes when managing information technology (IT) risks.
According to Joint Standard 1 of 2023: Information Technology Governance and Risk Management, financial institutions are expected to implement IT controls that are commensurate with their risk appetite, based on the nature and size of an institution’s operations.
Financial institutions have 12 months to comply with the Joint Standard.
One of the principles is the requirement for financial institutions “to develop a robust set of IT service management policies, standards, processes, and procedures (framework) which is essential for supporting IT systems, services and operations, managing changes, incidents and problems as well as ensuring the stability of the production IT environment”.
Read: Joint standard on how financial institutions should manage their risks
Figuring out where to begin is a challenge that has now fallen squarely in the lap of discretionary FSPs and administrative FSPs.
Moonstone Business School of Excellence’s upcoming cybersecurity webinar on artificial intelligence (AI) and its impact on cybersecurity controls is an excellent starting point for those wanting to equip themselves with knowledge to navigate the cyber maze confidently.
On Wednesday, 29 November, presenter Justin Westcott, the chief technology officer of DataGr8, will break down the complexities of AI and cybersecurity into digestible insights.
Watch: Embark on a journey into the heart of cybersecurity with our webinar
“This webinar isn’t just about technology; it’s a call to foster a culture of security awareness, where ongoing training and proactive policies can significantly reduce human error – a notorious culprit in security breaches,” he says.
Get up to speed on cybersecurity
DataGr8, a South African-based company, provides data-focused technology and services to customers across Africa. Earlier this year, MBSE partnered with DataGr8 to develop a series of cybersecurity courses that provide a comprehensive security awareness training programme to individuals and organisations.
The webinar forms part of MBSE’s series of cybersecurity courses, with content created by DataGR8, available on its online CPD course platform.
Click here to choose an online CPD course that suits your needs.
The cybersecurity series consists of three courses, six newsletters, and two webinars.
The first two courses, “Understanding the Cloud” and “Cyber Leadership and Strategy” are available on the MBSE online platform with “SMMEs’ Approach to Self-assessing Cybersecurity” set to follow in due course.
The six newsletters will equip subscribers with the knowledge and tools necessary to protect their personal and business information from cyber threats.
Click here for more information on the newsletters.
Participants have until Monday, 27 November, to register for the first of the two webinars.
The “AI and the Impact on Current Cybersecurity Controls” retails at R250 and is accredited for 2 CPD points, pending an assessment.
A recording of the webinar will be available to the participants following the live event up until the expiration of the CPD points.
For those who are not able to attend the live event, the webinar will be made available on MBSE’s online CPD course platform at a later date.
For more information, email help@mbse.ac.za.
