Enhancing Cybersecurity Resilience for a European Financial Services Firm

Needs And Requirements:

The financial institution, renowned for its robust cybersecurity posture, recognized the need for a comprehensive risk assessment. Operating in the finance sector, it faced stringent compliance requirements. While it had regular awareness training and incident response advice in place, the specifics of its security technologies and identity management solutions were not fully documented. The firm sought a comprehensive review and enhancement of its cybersecurity strategies to meet regulatory demands and bolster incident response capabilities.

Main Challenges:

• Budget Constraints: Despite having a reasonable budget, the financial demands of enhancing cybersecurity measures were significant.
• Regulatory Compliance: As a financial entity, the firm was required to adhere to stringent regulations, necessitating constant updates and compliance checks.
• Incident Response and Recovery: The existing incident response measures were not adequate for the firm’s scale and risk exposure.

Solution:

• Cyber Resilience & Incident Response: Hitachi Cyber developed a cyber resilience program that included a robust incident response plan to rapidly and effectively respond to cyber incidents, minimizing potential impacts. The program aligned cybersecurity practices with governance, risk, and compliance standards, strengthening the firm’s compliance posture. It included a comprehensive business continuity plan integrated into the incident response plan to ensure critical business operations could continue during and after a cyber incident. The program also focused on enhancing the firm’s resilience to cyber threats through advanced security measures, regular security audits, and ongoing staff training.

Outcomes:

The initiatives led by Hitachi Cyber significantly strengthened the client’s cybersecurity framework. Regular security audits and rigorous assessments ensured compliance with industry standards and regulations. The newly established incident response plan, along with the business continuity plan, facilitated faster resolution and recovery from security incidents, thus enhancing the firm’s resilience against cyber threats.

Next Steps:

The firm, in collaboration with Hitachi Cyber, will continue to update and enhance its security policies and procedures. Regular security audits and compliance checks will be integral, along with periodic reviews and enhancements of the incident response plans and the business continuity plan. This continuous improvement strategy is designed to keep the firm well-prepared against the evolving cyber threat landscape, ensuring ongoing compliance and enhanced cybersecurity measures. This case study serves as a testament to the firm’s commitment to maintaining a robust cybersecurity posture.