Cyber Risk Management

The Cyber Risk Management workstream aids banks in identifying, quantifying, managing, and monitoring risks related to IT and information security.

Introduction

Cyber Risk Management is a priority within the European banking sector, involving a continuous cycle of identifying, quantifying, managing, and monitoring IT and information security risks. This process is vital for ensuring the integrity and resilience of banking operations in the EU.

In line with this, the ECB, EBA, and the SRB are rigorously monitoring developments in this area. These bodies issue comprehensive regulations and informative newsletters, and conduct verification measures, including on-site inspections, to evaluate the effectiveness of cyber risk controls at supervised banks. Their diligent oversight helps maintain robust cybersecurity practices across the financial sector, protecting institutions from evolving cyber threats.

Challenges

Coordinating DORA compliance efforts

Simultaneously managing multiple compliance projects associated with the Digital Operational Resilience Act (DORA), each under tight deadlines. This demands the deployment of diverse expertise and the implementation of accelerators to streamline adjustments and optimise the efficiency of the associated investments.

How we can help

PwC has supported numerous banks in various of Cyber Risk Management projects.

As a leading consulting firm, we can work with your organisation to deliver high-quality outcomes across all aspects of Cyber Risk Management. We can also advise on value-adding initiatives, identify areas requiring enhancement, and support clients on ensuring compliance with regulatory requirements.

We can assist you with the following topics:

Contact us

Paolo Carcano

Paolo Carcano

Cyber Risk Management Workstream Lead, Partner, PwC Italy

Tel: +39 334 689 6335​

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