Cybersecurity for Canadian Financial Services Firms
Financial services firms face a dual cybersecurity mandate: protecting client assets and data from external attackers, while satisfying OSFI, CIRO, and FINTRAC regulatory requirements for security governance. Our cybersecurity services for financial firms are designed around both dimensions — operational security that actually stops attacks, and documented governance that satisfies regulatory examiners.
OSFI B-13 cybersecurity requirements we address
- Technology risk framework — documented policies covering asset inventory, threat assessment, access controls, and change management
- Threat and vulnerability management — monthly vulnerability scanning, quarterly penetration testing summary, and 30-day patch SLA for critical vulnerabilities
- Security incident detection — SOC monitoring with 24/7 alert triage and incident response retainer
- Third-party risk documentation — we provide the due diligence package your OSFI examiner expects
- Business continuity — tested recovery plans for trading systems, core banking, and client-facing platforms
Financial sector specific controls
- Privileged Access Management (PAM) — vaulted credentials for systems that touch client funds; all privileged sessions recorded and auditable
- SOC monitoring — SIEM correlation of authentication events, network flows, and endpoint telemetry; tuned for financial sector threat patterns
- Wire fraud prevention — callback verification procedures for outgoing wire instructions; anti-BEC controls for payment email chains
- FINTRAC transaction record security — tamper-evident storage for AML records; 5-year retention with access logging
- Trading system network isolation — trading platforms on separate network segments with strict firewall policy
Related resources
- Managed IT for financial services
- Financial services IT overview
- OSFI cybersecurity requirements
- What is SIEM?
Sources & references
- OSFI. Guideline B-13: Technology and Cyber Risk Management. osfi-bsif.gc.ca
- FINTRAC. AML/ATF Record-Keeping Requirements. fintrac-canafe.gc.ca
- IBM Security. Cost of a Data Breach Report 2024. ibm.com
Ready to transform your IT? Call (416) 623-9677 for a free assessment.