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Recently, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) issued the Third-Party Risk Management: A Guide for Community Banks (the guide). A community bank’s reliance on third parties does introduce operational, compliance,...

This article was written by Charlie Wood, FoxPointe Practice Leader Purchasing or selling a business is fraught with complexities, from financial statement due diligence, to ensuring that the right resources are in place before, during, and after the transaction. Legal and even environmental considerations also can be complex, time consuming,...

This article was written by Jeffery Travis, Director, FoxPointe Solutions. Whether they’re ensuring high quality care and patient safety, managing costs or complying with regulations, healthcare organizations have a lot to consider in order to run properly. One strategic tool that healthcare organizations can adopt to enhance efficiency is Artificial...

In today’s rapidly evolving digital landscape, the protection of sensitive information and the preservation of digital assets have become paramount, as has a full and accurate understanding of the controls in place. As organizations navigate the intricate realm of cybersecurity, the role of a Chief Information Security Officer (CISO) has...

Yesterday, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC, and together with the Federal Reserve and the FDIC, the Agencies), finalized previously proposed interagency guidance on how banking organizations should manage...

This article was written by Brandon Agostinelli. The Cybersecurity and Infrastructure Security Agency (CISA) defines Multi-factor authentication (MFA) as: “a layered approach to securing data and applications where a system requires a user to present a combination of two or more credentials to verify a user’s identity for login. MFA...

Ransomware Concerns for Every Business All organizations can face a disastrous outcome to a ransomware event, including the governmental entities. An outbreak is a painful event especially with the critical role these agencies have. The disruption of essential services to the public, health care, water & sewerage, education, transportation, and...

This blog was written and produced by Courtney Nist, Senior Security Consultant CHQP, CCSFP, at FoxPointe Solutions. Looking to get in touch with Courtney? Reach out today: Courtney Nist cnist@foxpointesolutions.com. SOC 2 + HITRUST CSF Report Based on the Verizon Data Breach Investigations Report of 2021, healthcare and outsourced service...

What is a SOC 1 Report A SOC 1 report, also known as the Statement on Standards for Attestation Engagements (SSAE) 18, focuses on a service organization’s controls that are likely to be relevant to an audit of a user entity’s (customer’s) financial statements. SOC 1 reports cover a service...

In this day and age, the risk of cybersecurity threats is becoming a concerning topic for organizations. Reducing the risk of data breach has become a top priority for many businesses. When it comes to minimizing risk, an often-overlooked area is third-party risk. Many organizations include an initial vetting process...