ECB and EBF officials to address MBA annual conference on Cyber Risk in banking industry

Officials from the European Central Bank (ECB) and the European Banking Federation (EBF) will be addressing, amongst others, the half-day conference on Cyber Risk in the banking sector, organised by the Malta Bankers’ Association (MBA) on the 29 November 2019.

The event, entitled “Cyber Risk in the Banking Industry – Addressing and mitigating threats”, is aimed at enhancing awareness on this very topical risk, with a view of improving its effective governance in credit institutions.

The conference will be held at the Corinthia Palace Hotel Ballroom in Attard on 29 November and starts at 08.00hrs and ends at 13.00hrs, followed by a networking lunch.

Nancy Masschelein, Head of Section of Methodology and Data Management DG III at the ECB, will be highlighting issues arising from IT and Cyber risk as part of the ECB Banking Supervision Supervisory Priorities. Her presentation will include an overview of ECB activities and will address the key findings arising from the ECB’s cyber security oversight of the supervision of less significant institutions (LSIs) by national supervisors.

Another key speaker will be Alexandra Maniati, Head of Cybersecurity & Innovation at the EBF. She will provide an overview of cybersecurity-related developments in terms of EU policymaking, and present the strategy and actions of the European Banking Federation in this field.

Daniele Frasca, Director, Cyber Risk Services Deloitte in Milan, Italy will be covering trends in cyber risk and regulation for financial institutions, and how increasing connectivity undoubtedly benefits organizations. However, such connectivity is largely built and designed primarily to share information rather than protect it.

MBA’s event on Cyber Risk will kick off with a welcome address by Marcel Cassar, MBA Chair and CEO of APS Bank plc. He will be followed by an opening speech delivered by Daniela Bagnaschi, Head of Data Management and Business Intelligence MFSA. Drawing ties between the MFSA’s vision and plans for risk mitigation in the cyber space, she will elaborate on the crucial aspects of the People, Process and Technology triad, as well as their impact on the cyber resilience framework of regulated entities.

Presentations will be also delivered by Daniel German, Information Security Officer at the Central Bank of Malta and by Sandra Saliba, Senior Analyst, Securities and Markets Supervision at the MFSA.

An interesting section of the MBA’s event will be a panel discussion featuring various participants including Inspector Timothy Zammit, Malta Police Cyber Crime Unit; Nancy Masschelein, ECB; Alexandra Maniati, EBF; and Daniele Frasca, Director, Cyber Risk Services Deloitte in Milan. The panel discussion will be moderated by Rodney Naudi, Member of the MBA’s Cybersecurity Sub-Committee and MBA representative on EBF’s Cyber Security Working Group.

The conference targets key personnel within banks, namely board directors, CEOs, COOs, CIOs as well as officers in risk, compliance, security, internal audit and IT functions. However, firms from different sectors of the financial services’ industry and other economic players would also benefit in view of the fact that such entities are exposed to continual cybercrime threats.

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