cyber security controls of Saudi central bank
Demonstrate your commitment to cyber security controls and get a SAMA license!
Do you want to measure your compliance with SAMA controls for cyber security? Stay RMG company will help you with that.
We enable your financial institution to obtain a SAMA license by providing specialized consultations and solutions that help you to comply with cyber security controls that issued by that Saudi central bank, and also, we assess your compliance level with them and prepare the correct plans and frameworks; To qualify you to pass the required level of implementing security controls and obtain a business license in the KSA.
What’s the compliance to the Saudi Central Bank control service?
A set of policies and controls related to cyber security and information security developed by the Saudi Central Bank to ensure the institution’s financial ability to prepare and deal with the cyber threats and recover from them, and also to ensure the continuity of their operations. The bank requires all institutions that want to establish financial activities and conduct business in the Kingdom, to commit by the minimum control contained in the information security policies and standards, and set certain levels to pass the assessment to be submitted within the cyber security audit reports to get an as a SAMA license.
Demonstrate your commitment to SAMA controls for cyber security or you will get out of the market competition soon!
What is the assessment of compliance with SAMA controls?
Assess the compliance of the SAMA cyber security controls is an operation of evaluating the levels of compliance of organizations and the financial entities in the Kingdom with the minimum mandatory controls requirements that issued by the Saudi central Bank By an external auditor entity, which are as follows:
- Minimum verification controls
- Cyber resilience fundamental requirements (CRFR), and
- SAMA cybersecurity framework.
To whom this service is provided?
The Saudi central bank obligates all kinds of entities (governmental, profit, non-profit) organizations that are censored For its control to comply with the information and cyber security controls issues and submit official documents that proving the roving their commitment to applying these controls, and it is the following:
- Regulated financial institutions and banks.
- Investment, insurance, and reinsurance companies.
- The entities involved in the payment system.
- Fintech, such as: e-wallets.
- Any Organization member offers lending services, or crowdfunding, or fintech business model under SAMA supervision.
Or any institution falling under this classification:
(Banks-Financing-Insurance-Payments-Exchange-Credit information)
The benefits of Assessing the Compliance with the SAMA Cybersecurity Controls
Assessing the compliance with SAMA controls helps the financial institutions in many aspects, the most important are the following:
- Enable to obtain SAMA license to conduct your business in the kingdom.
- Ensure committing to the assessment requirements issued by the Saudi Central Bank.
- Enhance the confidence of the customers and stakeholders in the institution’s services and raise its reliability.
- Putting a limit to the risks that raising from innovative information systems and digital transformation.
- Enhance the integration between the financial entities and facilitate exchanging the financial information between them.
- Improve its ability to resilience the threats and increase the level of cyber resilience.
- Ensure the continuity of its operations, and reduce the downtime in core activities.
What is the best entity that is qualified to conduct an assessment to the compliance with SAMA cybersecurity controls?
The Saudi Central Bank requires the organizations that want to pass the compliance assessment and obtain SAMA license’s to conduct independent validation and confirmation of cyber risks status in the organization. And cybersecurity auditors must verify the authenticity of the documents and confirm that they prove the entity’s commitment to all controls.
And the independent auditor who conducts your assessment of controls requires having the following conditions:
- Has previous experience in providing cybersecurity services.
- Has an experience in auditing cyber security systems.
- Good reputation, commitment, and high levels of satisfaction.
- An independent third party (external entity) is authorized to work in the kingdom.
- Has a technically and professionally qualified staff to evaluate the compliance and provide the necessary support.
How do we help you to obtain the SAMA license?
During the many years, we in RMG have characterized with our specialized experience and unique solutions that we provide to our clients to assess their complaints with controls and regulatory Security requirements, including the following
Assessment and diagnosis
We are helping the financial institutions to assess their compliance level of:
- SAMA Minimum verification controls
-Cyber Resilience Fundamental Requirements CRFR
-SAMA Cyber Security Framework
Designing plans
We help you to make a deep analysis of the current situation in your organization, Determine the strengths and improvement opportunities and identify the gaps against controls We also help you to create a clear compliance plan, and build and implement a designed roadmap according to your needs to meet audit requirements In addition, we help you to develop the corrective roadmap plan to comply with the information security regulatory manual to reach the third level of maturity.
Build abilities
Reaching the conditional compliance level, requires you to increase the awareness of your organization’s employees about SAMA’s cyber security controls And achieve cyber resilience.
So, during the period of the project, we provide you with specialized programs that are prepared according to international best practices targeting all work teams, which may include:
Workshops
-Specialized training
-Awareness campaigns
Document preparation
We provide the necessary support and help you to prepare compliance reports, and the manual of cyber security operations, policies, and procedures in a formal consistent with the assessment criteria approved by SAMA.
Do you need help?
Why do you choose RMG?
Comprehensive knowledge.
We have long experience and knowledge and related intertwined fields which make us your best choice to provide the optimal support in the journey of assessing the complaints with salmon security controls.
Local market experience
We have an in-depth understanding of the kingdom’s market and the financial sector, in particular, we also have previous experiences and offering similar services and a track record of completing similar projects.
Help you From beginning to finish.
We have world-class laboratories equipped with the latest tools, and a consulting team of more than 60 experts in the fields of cyber auditing, working within internationally approved methodologies.
We offer our Support in all languages.
We have a dual language team (Arabic and English) Qualified to work throughout the project phases. We prepare the documents and a clear format using the Agreed Modeling Language.
We follow your steps from putting the strategy to the implementation phase.
We don’t provide just recommendations but also work on designing the strategies and plans and accompany you in their implementation in order to ensure their success and achieve the goals entrusted to them.
We stand with you so you will not walk alone in the journey.
We work with you from the start until reach the stage where you are able to run the project by yourself without the constant need to any help from us. And we are making sure to be there to support you at any time.