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As reliance on digital technologies by financial institutions increases, so does the risk of cyberattacks, IT failures, and third-party vulnerabilities. Key requirements include: ICT RiskManagement Identify, mitigate, and monitor IT risks. Third-Party RiskManagementManagerisks from ICT service providers.
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This is achieved by establishing a robust crisis communication channel, disaster recovery and riskmanagement system. The CISO is responsible for evaluating business opportunities against security risks that can potentially compromise long-term financial rewards. Evaluating employee behavior and organizational culture.
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