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Enhancing the Cyber Resilience of the Financial Sector

Qualitative

10% early bird discount until 31 January 2020

Registration deadline: 11 May 2020

 
  • General description

    While technology brings new opportunities to the financial sector from efficiency gains to providing increased access and usage to financial services for individuals and entities, it is also true that explosion of digital financial services has exponentially expanded the attack surface that criminals can exploit. Within this context, cyber threat is borderless, and the capabilities of the adversaries are constantly evolving, readily scalable and increasingly sophisticated, threatening to disrupt the interconnected global financial systems. The cyber incidents suffered by financial services and infrastructure providers have resulted in severe financial, economic, operational and reputational loss for the targeted entity and the industry at large.

    The financial system is comprised of different types of entities, ranging from banks to financial market infrastructures to critical service providers. Given the potential impact of a cyber incident on the increasingly interconnected system, it is important that authorities develop and implement national cyber resilience strategies for their respective financial sector, encompassing a range of tools and initiatives, in an integrated and holistic manner.

    In recent years, authorities have increased their efforts on cyber resilience, developing regulations, guidance, tools, initiatives and capabilities to implement their respective national cyber resilience strategies. This course provides an overview of the cyber threat landscape; technical training on the basic principles of cybersecurity; the principles for developing cyber resilience strategies; the range of tools and initiatives to address cyber risk; and the future challenges facing the financial sector vis-a-vis cyber risk.

  • Topics covered

    • Cyber threat landscape in Europe and globally
    • Developing and implementing cyber resilience strategies in the financial sector
    • Technical training on cyber risk management and international cybersecurity frameworks
    • Cyber testing: Threat intelligence based ethical red-teaming
    • Systemic cyber risk
    • Public-private partnerships in cyber resilience
    • Fintech and innovative technology and cyber risks

  • What you will learn

    • You will learn about cyber risk and the threat it poses to the financial system
    • You will learn how to develop and implement a cyber resilience strategy for the financial system
    • You will get an understanding of the key principles and technical aspects of cybersecurity and resilience
    • You will get an understanding of the tactics, techniques and procedures of real-life threat actors and how they exploit weaknesses of financial institutions
    • You will learn how cyber risk can become systemic and the measures that can be taken to address the systemic risk
    • You will learn about fintech and innovative technology, and their implications on cyber risk

  • Meet the instructors

    Emran Islam is a Senior Market Infrastructure Expert at the European Central Bank (ECB). In his role, Emran co-ordinates the cyber resilience work for the Eurosystem. He was a part of the team that developed TIBER-EU, the Cyber Resilience Oversight Expectations (CROE), established the Euro Cyber Resilience Board, developed and operationalized the market-wide cyber exercise (UNITAS) and is currently developing the Cyber Incident and Information Sharing Initiative (CIISI-EU). Emran participates in various international groups, including the G7 Cyber Expert Group, the CPMI Task Force for Reducing the risk of wholesale payments fraud related to endpoint security, the FBS Cyber Lexicon Working Group, the CPMI-IOSCO Cyber Working Group, the ESRB Systemic Cyber Working Group and the World Bank FIGI. He was involved in the G10 Oversight of SWIFT and was the overseer of STEP2-T and EURO1. Prior to joining the ECB in 2015, Emran worked at the Bank of England for 5 years, where he was the supervisor of CHAPS, Bacs and FPS, as well as leading on the cyber work for UK FMIs.

    Klaus Martin Löber is Head of the Oversight Division of the European Central Bank, in charge of the oversight of financial markets infrastructures and payments instruments. The Eurosystem oversight requirements for their safety and efficiency, including cyber resilience, fall within this remit, in particular the recently issued Eurosystem Cyber Resilience Oversight Expectations. His areas or responsibility also encompass the ECB’s global regulatory policy activities with a focus on payments and market infrastructures. Furthermore, Mr Löber is contributing to the global fintech and digital innovations agenda, chairing the CPMI working group on digital currencies and co-chairing the CPMI-IOSCO working group on digital innovations looking into relevant developments. Prior to his current position, from 2012 to 2016, Mr Löber was Head of the Secretariat of the Committee on Payments and Market Infrastructures (CPMI) hosted by the Bank for International Settlements in Basel, Switzerland, a global regulatory standard setting body in the areas of payments, clearing and settlement. Earlier positions include the European Central Bank, the European Commission, Deutsche Bundesbank and private practice. Mr Löber regularly publishes on financial markets legal, regulatory and infrastructure issues.

  • Prerequisites

    A basic knowledge of the financial system is required to be able to follow the course.

  • Fees

    1750€ – Public Authorities (e.g. National Competent Authorities, Central Banks and European Institutions).

    1900€ – Private Sector.

    950€ – Academics (Full-time Professors, full-time PhD Students and full-time Research Associates). Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register.

    The course fee covers coffee and lunch breaks. Travel and hotel costs are not included.

    Please note that the payment must be settled two weeks before the start of the course.


    EARLY BIRD DISCOUNT

    Participants who register and settle the payment before 31 January 2020 will benefit from a 10% reduction of the course fees.


    CANCELLATION POLICY

    • In case a course is cancelled, registered participants will receive the full refund.
    • In case a course is moved to another date, registered participants may request a voucher to attend another FBF course.
    • Registered participants who have not yet paid the registration fee can cancel their participation until one month before the start of the course.
    • The registration fee is non-refundable, however it will be possible to transfer registration to another person or request a voucher for another FBF course up to 20 days before the start date of the course.

    For more details, please contact fbf@eui.eu
  • Practical information

    A certificate of attendance will be provided to all participants after the course.

    Accommodation 

    Please notice that the course dinner, and most of the social activities, will take place downtown.

    Recommended hotels nearby the EUI:

    Recommended hotels in downtown Florence:

    Suggested restaurants in Florence city centre

    Wi-Fi

    On arrival, participants will be provided with temporary wi-fi access for the whole duration of the course.

    Privacy Notice

    The personal information you have provided will be processed in compliance with the EUI Privacy Statement for conferences. For general queries: fbf@eui.eu

     

    General information on local transport

    From Florence airport:

    Florence airport is located 8 km from the city centre, approximately 30 minutes by taxi or bus. Taxis can be found outside the arrivals terminal; no reservation is needed. A taxi ride from the airport costs about €20 and takes approximately 25/30 minutes.

    A tramway (line T2) connects the airport to the city centre. Trains leave from the airport terminal and take 20 minutes to the main railway station. One-way tickets can be bought from vending machines for €1.50.

    The airport is also connected to the main railway station in Florence by a shuttle bus (‘Vola in bus’) that leaves every 30 minutes (on the hour and on the half-hour) and takes 25 minutes. Tickets are available on board for €6.00.

    From the central railway station:

    Take bus n. 7 at the bus stop Stazione Nazionale in the direction “Fiesole Piazza Mino”, get off at the stop ‘San Domenico 01’. For bus routes and timetables consult the official timetable.

    Bus tickets are sold outside the railway station, at ATAF ticket kiosks and vending machines, tobacconists (tabacchi), newspaper kiosks (edicole), and most cafès (bar). Bus tickets can be purchased also on board with a contactless credit card (Mastercard, Maestro, Visa and V PAY).

    Private car

    From the A1 Milano-Napoli (Autostrada del Sole), take the Firenze Sud exit and follow directions to the city centre/Stadio. Follow the directions to the stadium (Stadio), then for Fiesole. San Domenico is on the main road to Fiesole.

    The EUI has several free parking areas available all over the Campus.