The most impactful regulation for a cybersecurity analyst at a privately-owned bank is the Gramm-Leach-Bliley Act (GLBA), which directly addresses the protection of personal financial information held by financial institutions.
As a cybersecurity analyst for a privately-owned bank, the regulation that would have the greatest impact on your bank's cybersecurity program is the Gramm-Leach-Bliley Act (GLBA). This act requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data. SOX (Sarbanes-Oxley Act) primarily addresses the corporate governance and financial practices of publicly traded companies.
FERPA (Family Educational Rights and Privacy Act) deals with the privacy of student education records, and HIPAA (Health Insurance Portability and Accountability Act) is focused on the privacy and security of health information. Since GLBA is specifically designed for financial institutions to protect their customers' personal financial information, it plays a pivotal role in the cybersecurity measures of a bank.
Understanding the requirements of the GLBA will be critical in shaping your cybersecurity strategies, ensuring data protection and privacy compliance within the banking environment. This act also has implications on how data is collected, processed, and stored, making it central to your role in cybersecurity.