6-Hour Program

See Credit Details Below

Overview

Why You Should Attend

The Financial Services Industry is one of the most heavily regulated industries and the regulations are constantly changing.  The Dodd-Frank Wall Street Reform and Consumer Protection Act changed the landscape and companies must maintain their vigilance to comply with its requirements, even four years after it was enacted.  The last six months has yielded further regulations.  In October 2013, the OCC implemented compliance requirements for banks  for managing risks associated with third-party relationships, and in December 2013 the FFIEC issued a "Final Guidance on Social Media" which the FFIEC is encouraging state regulators to adopt.  Also in December 2013, the Federal Reserve issued a "Guidance on Managing Outsourcing Risk".  The Consumer Financial Protection Bureau ("CFPB") has stated that it expects financial institutions to be held responsible for the actions of the companies with which they contract.

There are also cybersecurity risks that require constant monitoring with off-shore and domestic criminals pinging every financial website hundreds of times daily looking for a soft spot in the fire wall.  In February, 2014, NIST issued a Cybersecurity Framework which may become the de facto standard for private sector cybersecurity as viewed by regulators and U.S. lawyers  The Department of Homeland Security has been monitoring cyber breaches.  California, which has been a leader in cyber security regulation, has recently amended its data breach statute.  Added to that are the normal daily issues of the development of mission critical software and outsourcing, insourcing and rightsourcing deals and strategic alliances.  Additionally, in January 2014, the CFTC announced a public meeting of the Technology Advisory Committee to discuss automated and high frequency trading environments and data standards.

This seminar will help you catch up on these developments.

What You Will Learn

  • OCC Compliance Requirements for Financial Institutions
  • FFIEC Final Guidance on Social Media
  • Impact of Dodd-Frank Act
  • NIST Cybersecurity Requirements
  • California Regulatory Environment
  • Federal Information Security Management Act
  • Information Security Issues
  • Mobile Apps Considerations
  • Strategic Alliances -- ownership of IP and data
  • Risks of Social Media
  • A look at the future of IT in the financial services industry

Credit Details