NYDFS Cybersecurity Regulation (23 NYCRR 500)

Meeting the Stringent Requirements of New York's Cybersecurity Regulation

Fortify Your Cybersecurity – Achieve NYDFS 23 NYCRR 500 Compliance with COE Security . Our expert solutions and guidance help financial institutions meet regulatory requirements, safeguard consumers, and enhance cyber resilience.

Our Compliance Expertise

What is 23 NYCRR 500?

23 NYCRR 500 mandates a comprehensive cybersecurity program for covered entities, including banks, insurance companies, and other financial services providers. Key requirements of the regulation include:

  • Cybersecurity Program: Covered entities must implement a comprehensive cybersecurity program designed to protect the confidentiality, integrity, and availability of nonpublic information.
  • Risk Assessment: Conduct regular risk assessments to identify and assess cybersecurity threats.
  • Cybersecurity Policy: Establish and maintain a written cybersecurity policy.
  • Data Protection: Implement measures to protect sensitive data, including encryption, access controls, and data retention policies.
  • Incident Response Plan: Develop and maintain a written incident response plan to address cybersecurity events.
  • Multi-Factor Authentication: Utilize multi-factor authentication for access to sensitive systems and data.
  • Security Awareness Training: Provide regular cybersecurity awareness training to employees.
  • Third-Party Service Provider Security: Ensure the cybersecurity practices of third-party service providers.
  • Chief Information Security Officer (CISO): Designate a qualified individual as CISO.
  • Reporting and Certification: Submit annual certifications of compliance to the NYDFS.
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Our NYDFS Compliance Services:

We offer a complete suite of services to help you achieve and maintain compliance with 23 NYCRR 500

NYDFS Gap Assessment

We conduct a thorough assessment of your current cybersecurity program against the requirements of 23 NYCRR 500. This assessment identifies gaps and areas for improvement.

Risk Assessment and Remediation Planning

We assist in conducting risk assessments and developing a prioritized remediation plan to address identified vulnerabilities.

Policy and Procedure Development

We help you develop and implement the required cybersecurity policies and procedures, including a cybersecurity policy, an incident response plan, and a data retention policy.

Control Implementation and Testing

We assist in implementing and testing the necessary security controls to meet the requirements of the regulation.

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CISO as a Service (vCISO)

We offer vCISO services to provide expert guidance and oversight of your cybersecurity program.

Incident Response Planning and Tabletop Exercises

We help you develop and test your incident response plan through tabletop exercises and simulations.

Third-Party Risk Management

We assist in assessing and managing the cybersecurity risks associated with third-party service providers.

Compliance Monitoring and Reporting

We provide ongoing monitoring and support to help you maintain compliance and prepare the required annual certification.

How Our Cybersecurity Services Enhance NYDFS Compliance

Our technical cybersecurity services directly support and strengthen your NYDFS compliance efforts

Penetration Testing

Identifies vulnerabilities in your systems and applications.

Vulnerability Assessments

Regularly scans for known security weaknesses and misconfigurations.

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Security Information and Event Management (SIEM)

Provides real-time monitoring and analysis of security logs.

Benefits of NYDFS Compliance

Avoid Regulatory Penalties

Minimize the risk of fines and penalties for non-compliance.

Enhanced Cybersecurity Posture

Strengthen your overall security posture and reduce the risk of cyberattacks.

Improved Data Protection

Protect sensitive data and maintain the confidentiality, integrity, and availability of your systems.

Increased Customer Trust

Build trust and confidence with customers by demonstrating your commitment to cybersecurity.

Compliance with Industry Best Practices

Align your cybersecurity practices with industry-leading standards.

Why COE Security?

NYDFS Expertise

Our team includes experienced professionals with a deep understanding of 23 NYCRR 500.

Tailored Solutions

We customize our services to your specific needs and environment.

Hands-on Approach

We provide hands-on support throughout the entire compliance process

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