Entreda co-founder and CEO Sid Yenamandra.Cybersecurity is the most important issue facing the advisory industry and should be a top concern for regulators, according to most registered investment advisors polled recently by TD Ameritrade Institutional, and technology remains the top management challenge for them.
To break down what advisors and their financial firms need to do to better protect themselves from cyber risk, Think Advisor spoke at length with Sid Yenamandra.
The co-founder and CEO of tech security firm Entreda is well-versed in the potential causes of a major cybersecurity-related disruption. He spoke with us about the overall threat posed to the financial industry by cyber attacks and why the cyber insurance field is like the Wild Wild West in earlier interviews.
ThinkAdvisor: How can financial service firms determine the risks they face, and what should they do with that information?
Yenamandra: The SEC and FINRA and many of the state boards clearly say that cyber security is a key operational risk item that firms have to watch out for.
The way to identify operational risk essentially is to start…
