Identity and Access Management Risk in Central Bank Systems Training Course

Introduction

Central banks operate at the apex of a nation's financial architecture, handling highly sensitive data, managing critical financial market infrastructures, and overseeing national payment systems. The integrity and security of these operations hinge fundamentally on robust Identity and Access Management (IAM). In an increasingly interconnected and cyber-threatened environment, effective IAM is not merely a technical function but a core strategic imperative for central banks to mitigate insider threats, prevent unauthorized access, and ensure the resilience of systemic financial operations.

This intensive 5-day training course is specifically designed to address the unique and complex IAM risks faced by central banking systems. Participants will gain a deep understanding of how to implement, manage, and continuously audit IAM frameworks that align with international best practices and regulatory expectations. The program will equip central bank professionals with the expertise to safeguard privileged access, manage digital identities, and foster a security-conscious culture, thereby strengthening their institution's overall cyber resilience and maintaining public trust in the financial system.

Duration: 5 Days

Target Audience:

  • Central Bank IT and Cybersecurity Professionals
  • Identity and Access Management (IAM) Specialists
  • Risk Management Officers in Central Banks
  • Compliance Officers and Internal Auditors
  • Financial Market Infrastructure (FMI) Operations Staff
  • Policy Makers and Regulators of Financial Systems
  • Human Resources Professionals involved in Employee Lifecycle Management
  • Senior Management and Board Members with Oversight of IT and Security
  • Business Continuity and Disaster Recovery Planners
  • Legal Professionals advising on Data Security and Access

Objectives:

  • Understand the critical role of Identity and Access Management (IAM) in central bank cybersecurity.
  • Identify and assess the unique IAM-related risks inherent in central banking systems.
  • Master best practices for designing and implementing robust IAM frameworks in a highly secure environment.
  • Learn to manage privileged access effectively and mitigate insider threats.
  • Explore advanced authentication methods and their application in central banks.
  • Understand the regulatory landscape and international standards for IAM in financial institutions.
  • Develop strategies for continuous monitoring, auditing, and improvement of IAM processes.
  • Address the IAM implications of emerging technologies like CBDCs and cloud adoption.

Course Modules:

Module 1: Introduction to IAM and its Criticality in Central Banking

  • Defining Identity and Access Management (IAM): Core components and their interdependencies.
  • The Unique Importance of IAM in Central Banks: Safeguarding financial stability, monetary policy, and sensitive data.
  • Overview of IAM-related Cyber Risks: Unauthorized access, insider threats, privilege escalation, credential theft.
  • Impact of IAM Failures: Financial losses, reputational damage, operational disruption, and systemic risk.
  • Regulatory Landscape for IAM: Key international and national regulations influencing IAM in financial institutions.

Module 2: IAM Governance and Strategy for Central Banks

  • Developing a Comprehensive IAM Strategy: Aligning IAM with central bank's strategic objectives and risk appetite.
  • IAM Governance Frameworks: Establishing clear roles, responsibilities, and accountability for identity and access.
  • Policy and Standard Development: Crafting robust IAM policies, standards, and procedures specific to central bank operations.
  • Integration of IAM with Enterprise Risk Management (ERM): Embedding IAM risks into the broader risk framework.
  • Metrics and Key Performance Indicators (KPIs) for IAM: Measuring effectiveness and continuous improvement.

Module 3: User Lifecycle Management and Access Provisioning

  • User Provisioning and De-provisioning: Automated and secure processes for onboarding, transfers, and offboarding.
  • Role-Based Access Control (RBAC): Designing and implementing effective role structures for central bank employees and external users.
  • Attribute-Based Access Control (ABAC): Granular access control based on user attributes, resource attributes, and environmental conditions.
  • Access Request and Approval Workflows: Streamlining and automating access requests with proper oversight.
  • Regular Access Reviews and Certifications: Ensuring that access rights remain appropriate and necessary.

Module 4: Authentication and Authorization in Central Bank Systems

  • Strong Authentication Methods: Multi-Factor Authentication (MFA), Adaptive Authentication, and contextual authentication.
  • Password Management Policies: Best practices for complex, unique, and regularly updated passwords, and exploring passwordless options.
  • Single Sign-On (SSO) and Federation: Enhancing user experience and security across disparate systems.
  • Authorization Models: Understanding the differences and application of discretionary, mandatory, and role-based access controls.
  • Public Key Infrastructure (PKI) and Digital Certificates: Their role in secure communication and identity verification.

Module 5: Privileged Access Management (PAM)

  • Defining Privileged Access: Administrative accounts, service accounts, and sensitive data access.
  • Risks Associated with Privileged Access: Insider threats, external attacks targeting elevated credentials.
  • PAM Solutions and Technologies: Session management, privileged credential vaulting, and just-in-time access.
  • Monitoring and Auditing Privileged Activities: Detecting anomalous behavior and ensuring accountability.
  • Separation of Duties (SoD) and Least Privilege Principle: Implementing controls to prevent conflicts of interest and minimize access.

Module 6: Managing Identities for Non-Human Entities and Third Parties

  • Machine and Service Identities: Securing access for applications, automated scripts, and IoT devices within the central bank.
  • Third-Party Access Management: Managing access for vendors, consultants, and external partners with robust controls.
  • Federation and External Collaboration: Securely extending IAM capabilities to external entities without compromising security.
  • Supply Chain IAM Risks: Addressing vulnerabilities introduced by third-party identity providers and access to central bank systems.
  • API Security and Microservices Access: Securing access for modern application architectures.

Module 7: Auditing, Monitoring, and Compliance for IAM

  • IAM Audit Trails and Logging: Comprehensive logging of access events for forensic analysis and compliance.
  • User Behavior Analytics (UBA) and Security Information and Event Management (SIEM): Detecting anomalous activities and potential threats.
  • Compliance with Industry Standards: Mapping IAM controls to NIST CSF, ISO 27001, and other relevant financial sector regulations.
  • Regular IAM System Audits: Conducting independent assessments of IAM effectiveness and compliance.
  • Incident Response for IAM-Related Incidents: Procedures for responding to compromised credentials or unauthorized access.

Module 8: Emerging Trends and Future of IAM in Central Banking

  • Identity in Central Bank Digital Currencies (CBDCs): Unique IAM challenges for retail and wholesale CBDCs.
  • Decentralized Identity (DID) and Blockchain for IAM: Exploring the potential for self-sovereign identities and enhanced security.
  • AI and Machine Learning in IAM: Predictive analytics for risk scoring, automated access reviews, and anomaly detection.
  • Cloud Identity Management: Securing identities and access in cloud-based central bank environments.
  • The Human Factor in IAM: Continuous training, awareness, and phishing resistance for central bank employees.

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 and 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

 

Identity And Access Management Risk In Central Bank Systems Training Course in C么te d'Ivoire
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