How to leverage NIST CSF to comply with Cambodia's Technology Risk Management Guidelines

Key takeaways

• Banking and financial institutions in Cambodia must conduct a formal gap analysis to comply with the NBC TRM Guidelines.
• The NIST Cybersecurity Framework (CSF) is a proven tool that maps to existing frameworks like ISO 27001 and provides a common language for compliance.
• Tenable Security Center provides continuous monitoring and automated conformance assessments to help you meet these regulatory requirements.
• Learn how to use Tenable's Assurance Report Cards (ARCs) to provide status updates to senior management.

How to comply with the National Bank of Cambodia's Technology Risk Management Guidelines

The National Bank of Cambodia introduced its Technology Risk Management Guidelines to set cybersecurity baselines for financial institutions. These guidelines help banks and other financial organizations build and mature their cybersecurity programs while making their operations safer and more efficient.

The dynamic guidelines require your institution to conduct a formal gap analysis between your current status and the new requirements. You must then put a time-bound action plan in place to address the gap.

Managing evolving regulations can be a daunting task, but a proven framework can simplify the process. This white paper focuses on applying the NIST Cybersecurity Framework for TRM compliance as a well-defined tool to comply with these regulations.

How to comply with the National Bank of Cambodia Technology Risk Management Guidelines

1. Conduct a formal gap analysis of your current status against the TRM requirements.
2. Adopt the NIST Cybersecurity Framework to map existing controls.
3. Use the CSF core to define your specific security activities.
4. Implement automated tools like Tenable Security Center to gain the continuous vulnerability assessment and monitoring capabilities required for the National Bank of Cambodia Technology Risk Management Guidelines.
5. Generate reports and Assurance Report Cards (ARCs) to prove compliance to management.

• Learn more about how Tenable and the NIST CSF can help you meet the National Bank of Cambodia Technology Risk Management Guidelines.

Why NIST CSF is the ideal framework for TRM compliance

Most banking and financial institutions' compliance controls in Cambodia draw from frameworks like ISO 27001, Control Objectives for Information and Related Technologies (COBIT), or CIS.

The NIST CSF doesn’t replace these. Instead, it offers a way to communicate cybersecurity activities in a common language.

The CSF maps these existing standards and guidelines so you can leverage work you have already done. The framework has three parts:

• Framework profile: This section helps you define and measure the current state of your security program against your desired state.
• Framework implementation tiers: These four tiers show how your organization views cybersecurity risks and processes.
• CSF core: The core defines the specific controls and activities, organized by five functions: identify, protect, detect, respond, and recover.

How Tenable automates vulnerability management to support Technology Risk Management Guidelines

The majority of technical requirements in the Technology Risk Management Guidelines are in the "Information Security Policy & Procedures" section. Tenable Security Center, a core component of an exposure management program, helps you comply with these specific mandates.

Automate vulnerability assessments

TRM Mandate 3.1.6(a) says to use automated tools and manual techniques to periodically perform comprehensive vulnerability assessments, including for common web vulnerabilities like SQL injection. Tenable Security Center gives you continuous visibility across your entire environment, including physical, virtual, cloud, and mobile assets.

Run authenticated scanning

TRM Mandate 3.1.6(d) specifies that you must perform vulnerability scanning in an authenticated mode (using administrator credentials). Tenable Security Center has authenticated scanning with agents or via remote scanners to analyze security configurations in depth.

Manage remediation and revalidation

TRM Mandate 3.1.6(c) requires your institution to establish a formal process to remediate issues identified in a vulnerability assessment or penetration test and then revalidate the fix. Tenable Security Center automates the assessment of these technical controls by evaluating what is in place and what needs improvement.

Report on unmitigated vulnerabilities

TRM Mandate 3.1.6(f) requires your security function to provide periodic status updates to senior management on critical, unmitigated vulnerabilities.

• Download the free whitepaper to learn more about TRM compliance.

Prove compliance with Assurance Report Cards

Tenable Security Center directly addresses the TRM's reporting requirements with fully customizable reports, dashboards, and Assurance Report Cards (ARCs). 

The platform includes NIST CSF-specific dashboards and ARCs out of the box.

Using the NIST CSF helps you communicate cybersecurity requirements in a common language for all levels of your organization:

• Executives: Can view high-level risk and budget priorities.
• Processes: Can translate business objectives into technical language and select framework profiles.
• Operations: Can implement and operate the security infrastructure.

Using Tenable Security Center, you can compare your current security posture to a target profile, identify gaps, and build a roadmap for a defensible compliance program. You get the near real-time assurance of your technical control status needed to validate your vulnerability management processes and TRM compliance.

• Ready to close your TRM compliance gap? Read the guide on leveraging NIST for TRM.

Frequently asked questions

Find answers to common questions about the National Bank of Cambodia Technology Risk Management Guidelines. 

What are the NBC TRM Guidelines?

The National Bank of Cambodia’s Technology Risk Management Guidelines consist of practices to help banking and financial institutions enhance the security, safety, and efficiency of their business operations and reduce cyber risk.

How does NIST CSF map to the NBC TRM?

The NIST Cybersecurity Framework acts as a common language that can map your existing security controls (like ISO 27001 or COBIT) to the TRM regulations to prove NBC TRM compliance.

What are the main domains of the NBC TRM?

The TRM provides guidance across six main policy domains: Information Technology Guidance, IT Governance Policy & Procedures, Information Security Policy & Procedures, IT Services Outsourcing, Information Security Audit, and Payment Card Security.

How do I perform a vulnerability assessment for TRM compliance?

The TRM requires that you use automated tools for periodic, authenticated (credentialed) vulnerability scanning. You must also have a formal process to remediate and revalidate all identified issues. Tenable Security Center automates this process.

• Download “Complying with Cambodia's Technology Risk Management Guidelines” to learn more about how Tenable can help you demonstrate and report on TRM compliance.