Collaboration to increase resilience across UK financial services ecosystem

LONDON, Oct. 25, 2023 /PRNewswire/ -- FS-ISAC, the member-driven, not-for-profit organisation that advances cybersecurity and resilience in the global financial system, today announced the formation of its UK Strategic Subsidiary Board.

The Board will deepen FS-ISAC's work in the United Kingdom, strengthening the operational resilience of the financial sector against evolving cyber threats, increasing intelligence sharing and incident response coordination. Burim Bivolaku, Business Information Security Officer (Trading & Clearing), Intercontinental Exchange, will serve as the Board's Chair.

"FS-ISAC's work in the UK and beyond is critical to bolstering cyber risk management, providing both local and global threat intelligence and a forum to share best practices and insights. It is an honor to lead the new Board in the fight against cyber threats to the financial sector," said Bivolaku. "Consistent collaboration between financial firms allows the sector to respond to incidents in a coordinated fashion to better protect customers and the greater financial ecosystem."

The Board will deepen FS-ISAC's partnerships with the public and private sectors. FS-ISAC is a trusted intelligence partner in the sector and will work with other key players to raise awareness of and build resilience against evolving cyber risks.

"While FS-ISAC and its member firms are operating in a global economy and face global cyber risks, it is crucial that financial institutions have local support and intelligence networks as well," said Lindsey Bateman, Chief Information Security Officer, M&G plc. "By also focusing on growing and supporting regional communities of technology and risk leaders, our ability to share relevant and actionable threat intelligence becomes that much more potent."

As the ongoing digitisation of the financial industry continues, the sector is seeing a corresponding growth in threats coming from their supply chain. To counteract this rising risk, the Board will focus on expanding FS-ISAC's work with the global software infrastructure, such as cloud service providers, as part of FS-ISAC's Critical Providers Programme.

"Particularly given the breadth and depth of the software solutions and tools used across the financial services industry, it's crucial that we build lines of communication to make sure that no players are experiencing software risk in a silo," adds TJ Campana, Group Head of Global Defence, HSBC. "I look forward to strengthening our sector's united security front as we strive to bring suppliers and critical providers into the fold against evolving threats."

"By encouraging local training and collaboration combined with cross-border exercising, firms will remain well-prepared to counter both traditional cyber threats as well as new risks arising with technological innovation," said Sarah Self, UK Chief Information Security Officer, Aviva. "While many industries struggle to keep up with the innovation of malicious actors, as a community, we are able to get ahead of emergent threat vectors such as AI and quantum computing."

"Given London's place as a top global financial market, we have been growing our staff here in London over the last several years," said Teresa Walsh, Chief Intelligence Officer and Managing Director, EMEA. "Our creation of a formalised Subsidiary Board in the UK allows for more focused local governance in a key membership hub."

Join the new UK Strategic Subsidiary Board at FS-ISAC's 2023 EMEA Summit in Amsterdam, 6-8 November 2023. To register, click here.

About FS-ISAC
FS-ISAC is the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, protecting the financial institutions and the people they serve. Founded in 1999, the organization's real-time information-sharing network amplifies the intelligence, knowledge, and practices of its members for the financial sector's collective security and defenses. Member financial firms represent $100 trillion in assets in 75 countries.

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