A look back at the first AGM of the Young Association

Cyber risks are omnipresent. In our interconnected world it is practically impossible to exclude them entirely. Therefore Swiss FS-CSC chose cyber resilience as its Leitmotiv during its first AGM and pointed out the importance of collaboration between business, politics and science.

The first AGM of the Swiss Financial Sector Cyber Security Centre (Swiss FS-CSC) took place on June 6th 2023 at the historic Landhaus Solothurn with about 50 members present. After the statutory part and the election of Gabor Iaimes (Specialist for P&C and cyber insurance) the meeting focussed on strengthening cyber resilience. Clara-Ann Gordon gave an overview of recent developments as a legal expert for cyber criminality. A panel discussion completed the program.

The Members of the Board at the first AGM.

Where does Switzerland stand in terms of Cyber Resilience?

Guest speaker Clara-Ann Gordon, lawyer and partner of Niederer Kraft Frey AG, held a presentation outlining her insights from a legal perspective. The facts on cyber resilience in Switzerland shared by her made it clear that security risks are international and therefore cyber security has to be approached from a global network perspective.

Collaboration between Business, Politics and Science

The subsequent panel discussion focussed on the respective roles of administration, business and science for cyber security. The panelists did not solely refer to the finance and insurance industry but to Switzerland as an innovation hub in general. Participants agreed that collaboration between banks and insurers as well as a holistic view of clients are central to successful cyber resilience. It is clear that there is little room for competition when comes to cyber insurance. All panelists emphasised the importance of knowledge sharing.

A Project turns Association turns Public-Private Partnership

According to president August Benz the association contributes to networking in the field of cyber security: “In our first year we grew from 55 founding members to 132. I consider this a success.” The initialisation of a crisis coordination cell constitutes an important step. It institutionalises the multilayered task of improving resilience against cyber risks in the financial industry and makes it operational.