With the December 31st attestation submission date for annual SWIFT Independent Assessments looming closer, it's crucial to ensure readiness and a big part of that is choosing your assessor.
But how can your organization ensure you select the right independent assessor?
In this video, Schellman's Jon Anderson delves first into the key points of the SWIFT Independent Assessment Framework (IAF) before exploring the qualifications to look for in your SWIFT assessor.
SWIFT—or the Society for Worldwide Interbank Financial Telecommunication—plays a vital role in facilitating global financial transactions securely. To maintain the integrity and security of this network, SWIFT users are required to undergo an annual independent assessment of their compliance with the Customer Security Controls Framework (CSCF).
To ensure you get what you need from your independent SWIFT assessment, make sure to look for the following qualifications in a potential assessor:
Independence: A crucial aspect of the assessment process is the independence of the assessor. According to the IAF, assessors must demonstrate freedom from conflicts of interest, ensuring a reliable and objective evaluation.
Experience: Assessors should possess recent and relevant experience in conducting cybersecurity assessments and audits—that includes familiarity with industry-standard frameworks such as PCI DSS, ISO 27001, SOC 2 Type 2, and NIST CSF.
Certifications: An assessor should hold industry-relevant cybersecurity certifications, such as Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA), or PCI Qualified Security Assessor (QSA). Supporting team members should also preferably possess similar certifications to ensure comprehensive coverage.
Choosing the right independent assessor that meets all these criteria will be pivotal for a successful assessment, and—to help you get started—check the list of qualified cybersecurity assessment providers that SWIFT maintains on their website, as these certified assessors offer the expertise needed to facilitate compliance activities and support annual attestations.
Navigating the SWIFT Independent Assessment requires careful consideration of the assessment framework and the qualifications of your chosen assessor. With the right partner by your side, achieving compliance becomes a more manageable and efficient endeavor.
At Schellman, we understand the intricacies of SWIFT compliance—our team of seasoned professionals, with their diverse expertise, is equipped to guide you through the assessment process and ensure compliance with industry standards.
If you have further questions or if you'd like to learn more about our qualifications in potentially assisting you with your SWIFT independent assessment, don't hesitate to reach out to us on our website, as we're here to support your compliance efforts and facilitate a seamless attestation process.