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Cybersecurity in Financial Services
On March 21st, 90 guests gathered at Crédit Agricole on 6th avenue to hear insights from an expert panel of cybersecurity executives.
Key takeways from the event:
- The C-suite cannot be passively involved in cybersecurity; They need to develop a better understanding on the topic, get trained, and potentially have one person with cybersecurity knowledge to help them fully grasp the topic. Cyber risks need to be addressed consistently with other financial institutions risks
- Even though important and mandatory, cyber regulatory compliance should not be considered as the primary indicator of security. Review of the risks based on the FI business mix, and an appropriate cybersecurity plan shall be in place to remediate potential attack.
- Financial institutions often need to make trade-offs in favour of security while designing employee / user experiences, to maintain the right level of trust with the institution. Recently a lot of measures have been taken by FIs to increase their cyber posture, which will need to be refined to continue to provide an increased user & employee experience
- When preparing their cyber program, financial institutions need to think about their IT systems, but also about the operational systems (often connected nowadays) which could also compromise the financial institution if not addressed.
About the panelists:
Levi Bolourie is a senior director in Cybersecurity & Privacy practice at PwC based in New York, with 13+ years of experience in the cyber and financial sector. He currently is leader of threat modelling services and methodology for PwC US. Prior to PwC, Levi acted as head of IT where he led IT implementation projects and transformation of IT services including security, virtual infrastructure and cloud based services including Amazon AWS.
Julien Bonnay is leading the Cybersecurity Practice of Capco in the US and is an advisor to leading corporate and investment banks, wealth management institutions, prime brokers and hedge funds in the US, Canada, Europe and Brazil. He has assisted some of the industry’s largest global clients in defining and implementing cyber risk and privacy strategies.
Todd Carroll is responsible for managing the U.S. cyber operations unit of CybelAngel. Before joining CybelAngel in January 2019, Carroll spent 20 years at the FBI where served as Assistant Special Agent in Charge Cyber and Counterintelligence Branch and Deputy Special Agent.
Patrick Edwards has multiple years of proven leadership experience setting strategic direction and influencing change. He is experienced in in executing risk and regulatory projects focused on: Dodd-Frank Act, Anti Money Laundering, Bankruptcy wind down plans etc., across multiple financial institutions.
Fabien Legland is the head of Project Management & Innovation of Crédit Agricole for the Americas since January 2016. Fabien started is career in Paris working for two consulting firms, Capgemini and WaveStone, managing organization and information technology projects for the public sector and the financial services industry.
George Levitt is Chief Operating Officer for Crédit Agricole Corporate and Investment Bank (CACIB) in the U.S. In this capacity he is responsible for IT, Operations, Project Management, Business Continuity Planning, IT Security, Sourcing & Procurement and Premises for all CACIB business units operating in the U.S. He is also Chief Operations Officer for Crédit Agricole Securities and President of Crédit Agricole Americas Services Inc.
Babak Pasdar is an ethical hacker and a globally-recognized expert in cyber-security, the cloud, and crypto-currency. Mr. Pasdar has founded multiple groundbreaking cyber-security firms, developed large-scale infrastructures for some of the most well-known global companies, and identified critical threats to United States national security.
We thank Crédit Agricole CIB and Dassault Systèmes for their support of this event.