Banking and Finance Sector-Specific Plan - U.S. Department of ...

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• Understanding and Avoiding of the Insider Threat; • Financial Information Tracing and Policy Enforcement; • Testing; and • Standards for Measuring Return on Investment of CIP and Security Technology. The impact and timing of trends contributing to the challenges was assessed and recommendations made for research that would support the financial services industry through these challenges. 7.3 Sector R&D Plan In 2006, the FSSCC R&D Committee began an effort to build on the sector’s research challenges. The committee drafted a financial services sector research agenda demonstrating how FSSCC research challenges relate to the NIPP. It is intended that DHS should use this research agenda as input to prioritize CI/KR research supporting the Banking and Finance Sector. An analysis of both documents indicates that there are many areas common to the NIPP and FSSCC R&D research programs and that, with minor modifications, the two programs can be synchronized to mutual benefit. Especially noteworthy are the following national R&D themes that would have the most impact on the financial services sector: • Protection and Prevention Systems; • Advanced Infrastructure Architecture; and • Human and Social Issues. The FSSCC R&D Committee recommends that research in these areas be given national priority and stands ready to assist in developing a coordinated plan through the Treasury Department and critical sectors, and the overall NIPP program. (See appendix on the FSSCC R&D Agenda.) 7.4 R&D Management Processes The Treasury Department has been working with the Critical Information Infrastructure Protection Interagency Working Group to draft the physical and cyber portion of the national CIP R&D strategy. The Treasury continues to exchange facts and information with numerous individuals and organizations both inside and outside the sector to identify R&D projects that will benefit the financial services sector with the goal of making the sector more resilient against external and internal threats. The Treasury Department believes that this pragmatic approach is the best method of making the sector more secure. The FSSCC R&D Committee is organized to support R&D initiatives to ensure the protection and resilience of the physical and electronic infrastructure of the Banking and Finance Sector’s activities that are vital to the Nation’s economic well-being. The committee provides guidance for the creation of a FSSCC R&D Agenda to identify and prioritize areas of need. The committee also provides industry, research/academia, and the public with insights into the opportunities and requirements. Further, the committee facilitates the coordination of financial services sector-wide R&D voluntary activities and initiatives designed to improve the sector’s critical infrastructure protection and homeland security. The FSSCC R&D Committee operates with the following charter: • Create a FSSCC R&D Agenda to identify and prioritize the areas of need so that the most promising opportunities can be found for R&D initiatives to improve the financial services sector’s critical infrastructure protection significantly; Banking and Finance Sector-Specific Plan
• Publish updates as needed to documentation of the FSSCC R&D Agenda, to provide industry, research/academia, and the public with a shared insight into the opportunities and requirements; • Provide guidance for the process by which research proposals are selected and funded. Provide documentation of selection criteria and success factors used to identify the most promising proposals for funding; • Provide the financial industry, research/academia, technologists, entrepreneurs, and the public with a better understanding of the needs and opportunities through outreach programs; and • Coordinate support for R&D across the financial institutions represented by the FSSCC and its members, providing collaborative review of research proposals and identification of financial institutions interested in participating in the research, providing test data, and deploying results for productive use by the financial industry. CI/KR Protection R&D
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Banking and Finance Critical Infras
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ii Banking and Finance Sector-Speci
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Page 9 and 10: Executive Summary The Banking and F
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Page 20 and 21: Figure 1-1: FBIIC Members FBIIC Mem
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members are very active. One of the
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K Financial information tracing is
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SCC R&D Challenges vs. NIPP R&D The
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