Introduction to Survey

Question Title

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Global Cyber Security

Asset Management Benchmarking Survey

Introduction

Cyber risk has become a leading concern for financial institutions and is being discussed in various domestic and international forums, such as by the International Organization of Securities Commissions (IOSCO). As you may be aware, IOSCO’s Affiliate Members Consultative Committee (AMCC) established a Task Force on Cyber Resilience, in 2013. A fact-finding report was produced in 2014 which, in part, encouraged further collaborative work on this issue. As such, and in order to focus more sharply on the security profile of the asset management sector within financial services, a Working Group (WG) was then established.

The attached 2019 Cybersecurity Survey is largely based off an ICI/ICI Global cyber security survey that, with assistance of the AMCC WG, has been modified for an international audience to benchmark the security posture of the asset management industry globally. There are sections covering such topics as authentication, policies and procedures, outsourcing, administrative access, security operations, and encryption. In order to gather meaningful survey results, we need your firm to participate. The survey is being run across a broad range of jurisdictions and the long-term plan is to continue to repeat the survey every year to see how the industry’s security profile evolves as technology and cyber risk change. As a result, institutions will be able to compare their cyber security practices with those of the industry at large. Survey results will be presented at the December IOSCO AMCC Meeting in Madrid, Spain.

Please note, survey results will be aggregated, and individual firm identities will remain anonymous. That is, no individual firm will be identified and only questions that have enough respondents will be included in the final report. The only reason a firm name is requested on the survey is to make certain we do not receive duplicate responses. It is important that the appropriate technology officer complete the survey as that person is most likely to have the requested information at their fingertips. The survey should take approximately 20 minutes to complete. Once you start the survey you may exit and return later only if 1) you complete a full page and hit “Next”, 2) you use the same computer and browser, and 3) you do not disable cookies.

Please complete the survey by September 21, 2019.

If you have any questions with respect to the survey, you may contact Peter Salmon, Senior Director, Technology & Cybersecurity, Investment Company Institute, at salmon@ici.org. You may also request a copy of the results after November 4, 2019.

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