Background
As the result of a recent organizational transformation based on a FFIEC cybersecurity assessment, a global investment bank engaged Wavestone to define its Cybersecurity strategy and multi-year implementation roadmap of initiatives to enhance the bank’s cybersecurity practices in North and South America. Specifically, Wavestone was asked to analyze the numerous ongoing and future initiatives spread across various departments in order to create a proactive, coherent, and enterprise-wide approach to cybersecurity.
Challenges
Wavestone helped the client address the following challenges:
- Geographic Scope and Global Alignment – While the project was focused on local and regional initiatives within the Americas, global alignment to group-level standards was needed requiring a well-curated strategy definition and roadmap design to address multiple levels of regulations and cybersecurity standards across the Globe
- Coordination of ongoing and future divided initiatives – Upon entering the engagement, there were already a number of ongoing initiatives requiring analysis and adjustment through an enterprise-wide lens which affected the simultaneous solution design of the future initiatives
Answers and Key Sucess Factors
- Coordinated a comprehensive analysis and assessment of all cyber risks across business lines and transversal operations while observing industry standards and recommendations in order to prepare priorities of initiatives and next steps
- Created a multi-geography cybersecurity roadmap charting implementation overviews, dependencies between projects and functions, and investments required from the business
- Accelerated a newly created Cyber Threat Intelligence Sharing Initiative to focus on formalizing core processes and identifying best practices across the business
