Cybersecurity Risks in the Financial System: A Comprehensive Training Course

Introduction

The financial system is increasingly reliant on technology, making it a prime target for cyberattacks that can threaten not only individual institutions but also the stability of the entire system. This training course is designed to provide a comprehensive and practical guide to understanding, identifying, and mitigating cybersecurity risks in the financial sector. Participants will gain a deep understanding of the evolving threat landscape, from sophisticated state-sponsored attacks to insider threats, and learn how to design and implement a robust cybersecurity framework that safeguards institutional integrity and public trust.

The program also focuses on the crucial link between cybersecurity and financial stability, exploring how a cyberattack on a single institution can have systemic consequences. We will examine the policy toolkit available to central banks and regulators, including the use of regulatory frameworks, cross-border cooperation, and information sharing to enhance resilience. By combining theoretical foundations with real-world case studies, this course will equip policymakers and IT professionals with the skills necessary to navigate a dynamic risk landscape and contribute to a more secure and resilient financial system.

Target Audience

  • Central bank IT and cybersecurity staff
  • Financial regulators and supervisors
  • Commercial bank risk managers
  • Government technology and policy officials
  • Academics and students of cybersecurity
  • International financial institution staff
  • Legal and compliance professionals
  • Public sector debt managers

Duration

5 days

Course Objectives

Upon successful completion of this training, participants will be able to:

  • Explain the core concepts of cybersecurity and its drivers.
  • Analyze the key risks in a financial system.
  • Describe the different types of cybersecurity frameworks.
  • Evaluate the challenges of managing a cyberattack.
  • Discuss the role of central banks and regulators in a crisis.
  • Apply analytical techniques to assess and monitor cybersecurity risks.

Modules Course Content

Module 1: The Foundations of Cybersecurity

  • Defining cybersecurity and its drivers
  • The role of cybersecurity in financial stability
  • The different types of cyberattacks (e.g., malware, phishing, ransomware)
  • The importance of a robust cybersecurity framework
  • The role of a central bank's risk culture

Module 2: Risk-Based Cybersecurity

  • The concept of risk-based cybersecurity
  • The key risks in banking (e.g., credit, liquidity, operational)
  • The role of a risk rating system
  • The use of a supervisory review process
  • The importance of a forward-looking approach

Module 3: Cybersecurity Frameworks

  • The role of a bank's internal cybersecurity framework
  • The use of a central bank's regulatory framework
  • The challenges of managing a central bank's cybersecurity portfolio
  • The importance of a robust cybersecurity framework
  • The use of new technologies for risk management

Module 4: Incident Response and Crisis Management

  • The purpose and objectives of an incident response plan
  • The role of a central bank's crisis management plan
  • The importance of a well-defined enforcement policy
  • The challenges of a cross-border crisis
  • The importance of a well-defined communication strategy

Module 5: The Role of the Central Bank

  • The central bank's mandate for financial stability
  • The coordination of monetary and macroprudential policy
  • The role of the central bank in a crisis
  • The challenges of independence and accountability
  • The central bank's role in a financial crisis

Module 6: Cross-Border Crisis Management

  • The challenges of a cross-border crisis
  • The role of international cooperation
  • The use of a central bank's swap lines
  • The role of the International Monetary Fund (IMF)
  • The importance of a global resolution framework

Module 7: The External Sector and Financial Stability

  • The impact of a currency crisis on a country's financial system
  • The role of exchange rates and foreign currency debt
  • The challenges of managing a currency crisis
  • The role of international cooperation
  • The importance of a resilient external sector

Module 8: The Role of Technology and FinTech

  • The impact of FinTech on financial stability
  • The challenges of regulating FinTech
  • The role of new technologies in supervision
  • The impact of digital currencies
  • The use of technology for surveillance

Module 9: Global Regulatory Frameworks

  • The role of the Financial Stability Board (FSB)
  • The Basel Accords (Basel III)
  • The challenges of global policy coordination
  • The role of international standards
  • The importance of a level playing field

Module 10: Case Studies and Current Debates

  • The 2008 Global Financial Crisis
  • The lessons from past financial crises
  • The debate over the design of a resolution framework
  • The challenges of managing a financial crisis
  • The future of financial stability

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. Accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

Cybersecurity Risks In The Financial System: A Comprehensive Training Course in Bulgaria
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