Cyberrisks have increased for the financial sector. Cyberincidents that damage the reputation of the Swiss financial sector or have the potential to result in a severe financial crisis are an ever-increasing threat. Close cooperation between financial institutions and authorities is thus crucial to identifying and combating cyberrisks.
The association Swiss Financial Sector Cybersecurity Centre (Swiss FS-CSC) thus aims to enhance the financial sector’s ability to withstand these risks – its cyberresilience – and promote a partnership between financial institutions and authorities on strategic and operational issues.
Founded in Zurich on 5 April 2022, the association Swiss Financial Sector Cyber Security Center (Swiss FS-CSC) has 55 founding members, including banks, insurers, reinsurers and industry associations – among them the Swiss Bankers Association (SBA), SIX, the Swiss National Bank (SNB), the Swiss Insurance Association (SIA) and the Association of Foreign Banks in Switzerland (AFBS). The Swiss Financial Market Supervisory Authority FINMA, the National Cyber Security Centre (NCSC) and the State Secretariat for International Finance (SIF) support it as affiliates. The Swiss Swiss Financial Market Supervisory Authority (FINMA), the National Center for Cyber Security (NCSC) and the State Secretariat for International Finance (SIF) provide support as affiliates.
Dipl. business informatics specialist
The Steering board, which currently has around 20 members, is responsible for the association’s strategic management. In addition to the companies Baloise, Credit Suisse, Helvetia, Mobiliar, PostFinance, Raiffeisen, SIX Group, Swiss Life, UBS and Zürcher Kantonalbank, the National Cyber Security Centre (NCSC), the State Secretariat for International Finance (SIF), the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank (SNB) also have a seat in the Steering Board. Moreover, the Swiss Bankers Association (SBA), the Swiss Insurance Association (SVV), the Association of Foreign Banks in Switzerland (AFBS), the Association of Swiss Cantonal Banks (VSKB), the Association of Swiss Asset Management and Wealth Management Banks (VAV), the Association of Swiss Private Banks (ABPS) and the Association of Swiss Regional Banks (VSRB) sit in this body.
The association board consists of three elected members: President August Benz, Vice President Alexandra Arni and Treasurer Marc Etienne Cortesi. The Board’s tasks include the organizational and financial management of the association and the admission and exclusion of members as well as the election of the executive director (establishment of the executive office).
Swiss FS‑CSC’s “Operational Cyber Security Cell” (OCS) is operated by the “Financial Services Information Sharing and Analysis Center” (FS-ISAC). FS-ISAC is a seasoned cyber intelligence sharing community that operates globally and focuses on financial services.
The expert group advises the other bodies and is divided into so-called chapters. It comprises around 70 representatives from both member organizations and affiliates.
Version from 06.06.23
The expert group advises bodies. It has around 70 members and is divided into the following chapters:
Assessing systemic vulnerabilities and updating risk analysis.
Monitoring and evaluating new regulations related to cybersecurity issues.
Maintaining relationships with members and partners; managing the quality review process of OCS activities
Planning and conducting crisis exercises and training for Swiss FS-CSC members and affiliates
Monitoring and evaluating new security technologies and services relevant to in- creasing cyberresilience in the financial sector
Developing standardized procedures and providing ad-hoc support in crisis situations