CIS Controls for Financial Institutions

Here are the key takeaways from this blog:

• CIS Controls Offer a Prioritized, Actionable Framework: Unlike broad guidelines, the 18 CIS Controls provide specific, risk-based steps to combat the most common cyber threats—ideal for financial institutions balancing security and compliance (FFIEC, GLBA, NCUA)
  
  
• Prioritize high-impact CIS Controls, like asset management, access control, and data protection, to reduce risk, block common attack vectors, and meet regulatory expectations
  
  
• Avoid Implementation Pitfalls: Common mistakes include incomplete asset tracking, neglecting staff training, and treating security as a one-time project. A phased, continuous approach ensures long-term success
  
  
• Rivials' platform can help automate compliance with the CIS framework. Our platform simplifies framework assessments across CIS, NIST, ISO, and more, giving you insights into gaps, compliance status, and next steps.

Simplifying CIS Compliance   

Learn how to manage multiple frameworks with less effort in our webinar 

Cybercriminals don’t discriminate—they target financial institutions of all sizes. 

For credit unions and community banks, a single breach can devastate customer trust, trigger regulatory penalties, and lead to costly recovery efforts. 

Here’s what you need to know about implementing CIS Controls effectively to stay ahead.

What Are CIS Controls & Why Do They Matter for Financial Institutions?

Developed by the Center for Internet Security (CIS), the 18 CIS Controls represent a gold-standard framework of cybersecurity best practices aimed at defending organizations against the most common and dangerous cyber threats. Unlike broad or vague guidelines, these controls are highly actionable and risk-based, offering clear, prioritized steps that help financial institutions focus on what matters most. 

Importantly, the CIS Controls align closely with regulatory expectations such as those from the FFIEC, GLBA, and NCUA, making them an ideal foundation for credit unions and banks to build a robust security program. By following this framework, financial institutions can strengthen their defenses while avoiding unnecessary complexity and resource drain, ensuring they meet compliance requirements and effectively reduce cyber risk.

Top CIS Controls Every Credit Union & Bank Should Prioritize

While all 18 controls are valuable, these are mission-critical for financial institutions:

1. Inventory & Control of Enterprise Assets – Unauthorized devices on your network? A disaster waiting to happen. Maintain real-time visibility over all hardware (tellers, ATMs, loan officers’ workstations).
2. Inventory & Control of Software Assets – Outdated or unapproved software is a hacker’s favorite entry point. Enforce strict software approval policies to eliminate shadow IT risks.
3. Continuous Vulnerability Management – Waiting for an exam or audit to scan for weaknesses? Too late. Automated, frequent scanning ensures flaws are patched before attackers strike.
4. Controlled Use of Administrative Privileges – Overprivileged employees = insider threats & ransomware risks. Implement role-based access controls (RBAC) and just-in-time admin access.
5. Secure Configuration for Hardware & Software – Default settings are not secure. Follow CIS Benchmarks to harden core systems (core banking platforms, servers, firewalls).
6. Audit Log Management – Without logs, breaches go undetected for months. Ensure centralized logging with real-time monitoring for suspicious transactions or logins.
7. Email & Web Browser Protections – Phishing & drive-by downloads target employees daily. Deploy advanced filtering, sandboxing, and DNS protection to block malicious links.
8. Data Protection – Member data (PII, account details) must be encrypted at rest and in transit. Bonus: Helps with Regulation P & GDPR compliance.

Common CIS Control Pitfalls (And How to Avoid Them)

Implementing CIS Controls effectively goes beyond simply following a checklist—it requires thoughtful planning and engagement across your organization. One of the biggest challenges is ensuring you have a comprehensive inventory of all your assets. Without knowing exactly what hardware and software you have, applying controls becomes ineffective, as unknown devices or applications can create hidden vulnerabilities.

Another common stumbling block is underestimating the importance of user awareness. Technology alone cannot defend against cyber threats; your staff must be trained to recognize risks and follow security best practices. Additionally, treating security as a one-time effort rather than an ongoing process can leave gaps over time. Continuous monitoring and regular updates are essential to maintaining a strong security posture.
Finally, it’s important to tailor the implementation to your specific environment. Trying to deploy every control at once can overwhelm your team and lead to mistakes. A phased, prioritized approach aligned with your organization’s risk profile will ensure smoother adoption and better results.

CIS Controls vs. NIST CSF vs. ISO 27001: Key Differences 

While all three security frameworks aim to bolster cybersecurity, they differ in scope, structure, and applicability for financial institutions:

• CIS Controls are action-oriented and prioritized, offering specific, tactical steps (e.g., asset inventory, vulnerability management) to mitigate the most common attacks. Their Implementation Groups (IG1–IG3) allow credit unions and banks to start with foundational controls and scale up, making them ideal for resource-constrained institutions seeking quick wins.
• NIST CSF 2.0 provides a flexible, risk-based approach organized around five functions (Identify, Protect, Detect, Respond, Recover). It’s broader and less prescriptive, often used by larger banks to align with regulatory expectations (e.g., FFIEC guidelines) or to complement existing programs like CIS Controls.
• ISO 27001 is a certifiable standard focused on building a comprehensive Information Security Management System (ISMS). It’s process-driven, emphasizing continuous improvement and risk management, but requires significant resources, making it more suited for larger financial institutions or those needing international compliance (e.g., GDPR).

The choice really hinges on your institution’s size, regulatory demands, and whether you need actionable controls (CIS), risk governance (NIST), or certifiable processes (ISO)—or a hybrid approach.

Implementing CIS Controls with Rivial? 

Manually evaluating security frameworks is slow, prone to mistakes, and often produces inconsistent outcomes that complicate risk management. 

Rivial's platform changes that. It enables you to assess your cybersecurity program across multiple frameworks with less effort. 

It simplifies complex evaluations and delivers instant insights into gaps and compliance across standards like CIS Controls, NIST, ISO, and more. Experience the ease of streamlined risk and compliance management—try our platform for yourself.

Simplifying CIS Compliance   

Learn how to manage multiple frameworks with less effort in our webinar