CUNA and the Financial Services Information Sharing and Analysis Center (FS-ISAC) will host a webinar with NCUA examiners Thursday to explain the new Automated Cybersecurity Examination Tool (ACET). The free webinar is scheduled for 3 to 5 p.m. (ET), and registration is now open.
ACET provides NCUA with a “repeatable, measurable and transparent process for assessing the level of cyber preparedness across federally insured institutions,” according to the agency. NCUA said in its supervisory priorities for 2018 it will begin using ACET during credit union exams this year.
It incorporates appropriate standards and practices established for financial institutions. It also aligns with the Cybersecurity Assessment Tool developed by the Federal Financial Institution Examination Council for voluntary use by banks and credit unions.
NCUA will begin using the ACET in examinations of larger credit unions with more than $1 billion in assets to create a baseline for the cybersecurity maturity level of the largest and most complex institutions.
NCUA will continue to test and refine the ACET through 2018 to ensure it scales effectively for smaller, less complex institutions.