AMF GUIDELINES ON RISK MANAGEMENT OF INFORMATION & COMMUNICATIONS TECHNOLOGIES
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RISK MANAGEMENT OF INFORMATION AND COMMUNICATIONS TECHNOLOGIES FOR THE FINANCIAL SERVICES IN QUEBEC
The Autorité des marchés financiers (AMF) guidelines provide financial institutions with the necessary standards to determine suitable strategies and procedures for the implementation of necessary principles and to apply them according to their nature, size, complexity, and risk profile. Are you aware of the compliance deadline?
Deadline to comply: February 27, 2021
Who does this apply to:
insurers of persons (life and health insurers
damage (P&C) insurers
holding companies controlled by an insurer
financial services cooperatives
trust companies and savings companies
financial institutions operating independently
financial institutions operating as members of a financial group
Every organization is different. Do you know what YOUR needs are?
This guideline explains the necessary elements of Information and Communications Technology (ICT) risk management, which ultimately aim to strengthen the financial sector’s resilience to the risk of loss, theft, corruption and unauthorized access to data. These expectations are aimed at establishing adequate safety standards by implementing measures that help prevent the occurrence of such incidents and to limit their impact.
Do you know the gaps you need to remediate? According to the regulation, it is the responsibility of the institution to fully understand all the ICT risks it faces and to ensure that they are adequately considered according to its nature, its size, the complexity of its activities and its risk profile. It is also the responsibility of the institution to know the best practices in terms of ICT risk management and to adopt them to the extent that they meet its needs.
At Hitachi Systems Security, we are helping customers get a sense of what exactly this entails. Feel free to consult the downloadable outline that we have put together for our customers.
If you need assistance with the regulation, please reach out to us for an assessment.
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