Page 177 - Cyber Defense eMagazine December 2023
P. 177

•  Individual Awareness: Provide full-bodied training and resources that empower employees to
                   securely operate their systems.
               •  Systems and Platform Security: Establish a process of diligently and consistently reviewing and
                   enhancing  security  capabilities.  Implement  Zero  Trust  tenets,  including  practicing  the  least
                   privilege principle, breaking work into smaller units, always verifying access and implementing
                   micro-segmentation, among others.
               •  Ensure Business Continuity: Prioritize areas that could disrupt operations to maintain seamless
                   functionality.



            The Road Ahead

            While  financial  institutions  grapple  with  issues  surrounding  cybersecurity  and  operational  resilience,
            DORA offers a holistic framework to address these matters with an emphasis on incident reporting, third-
            party risk management and collaborative threat intelligence sharing. The financial sector must also adopt
            and  enact  best  practices,  including  promoting  individual  awareness,  securing  systems  and  making
            business continuity a top priority. Through this combination of regulatory compliance and proactivity,
            financial organizations can ensure the security of their operations and the trust of their customers.





            About the Author

            Boris Khazin is Global Head of Digital Risk Management/Governance,
            Risk  and  Compliance  at  EPAM  Systems,  where  he  is  passionate
            about providing solutions that deliver business value and exist at the
            intersection of people, processes and systems.

            Mr. Khazin has more than 20 years of management, consulting and
            product development experience in the financial services and fintech
            sectors. During his tenure at EPAM, he has led several GRC, business
            intelligence, enterprise analytics and organizational capability/maturity
            assessments to help clients identify, define and prioritize frameworks
            that  guide  them  toward  a  desired  future  state.  From  this,  he  has
            developed a keen understanding of opportunities and challenges that
            arise when organizations adapt to change. Previously, Mr. Khazin worked at multiple financial firms,
            including UBS, S&P and Bloomberg. He was also an Investment Oversight Officer at TD Ameritrade.
            Mr. Khazin has a Bachelor of Science in Behavioral Economics from Pennsylvania State University and
            an MBA from Pace University.











            Cyber Defense eMagazine – December 2023 Edition                                                                                                                                                                                                          177
            Copyright © 2023, Cyber Defense Magazine. All rights reserved worldwide.
   172   173   174   175   176   177   178   179   180   181   182