On August 31, 2015, the OCC’s Deputy Comptroller for Compliance Operations and Policy, Grovetta Gardineer, discussed the cybersecurity assessment tool issued by the Federal Financial Institutions Examination Council in June 2015. According to Gardineer, the tool provides a common framework for assessment across institutions and represents a step forward in terms of supervision of banks and thrifts in cybersecurity. While the use of the cybersecurity tool is optional for financial institutions, it will be used by OCC examiners to supplement their exam work and to obtain a stronger and more complete understanding of the cybersecurity risks faced by financial institutions.

The press release is available at: http://www.occ.gov/news-issuances/news-releases/2015/nr-occ-2015-120.html and the remarks are available at: http://www.occ.gov/news-issuances/speeches/2015/pub-speech-2015-120.pdf