Washington, D.C. – On April 28, 2021, the Reserve Bank of New Zealand listed the Cyber Risk Institute Financial Services Cybersecurity Profile (the Profile) in its Guidance on Cyber Resilience as one of its recommended frameworks for cyber compliance. Josh Magri, Managing Director of CRI, issued the following statement in response to the Reserve Bank’s recommendation:

The Reserve Bank of New Zealand’s recognition of the Profile is an honor and a clear indicator of the momentum propelling the global adoption and acceptance of the Profile as the premier cyber security and resilience regulatory compliance asset. We are already incorporating other requirements from the Indo-Pacific region into the Profile, and this will continue to be a high priority for CRI. We look forward to engaging with stakeholders across the region to ensure the Profile supports compliance efforts for firms while helping regulators establish and assess against a common baseline.

Josh Magri, Founder and Managing Director of CRI

This guidance articulates the Reserve Bank of New Zealand’s expectations for its regulated entities and “aims to raise awareness of, and ultimately promote, the cyber resilience of the financial sector, especially at the board and senior management level of entities.” This announcement follows on the heels of a similar acknowledgment on the part of ENISA (the E.U.’s cybersecurity agency).

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