Frameworks · Financial

NYDFS 23 NYCRR 500

Venevor tracks the Part 500 requirements, checks what it can read from your systems, and keeps the dated evidence behind your annual filing.

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  • Issued byNew York State Department of Financial Services
  • Applies toFinancial services companies licensed by NYDFS

One check

MFA enforced for all usersRead from your identity provider · timestamped

Counts toward

  • NYDFS 23 NYCRR 500Verified
  • NIST CSF 2.0Verified
  • SOC 2Verified
  • ISO 27001Verified
Illustrative example
Readiness screen: requirements shown as verified, asserted, gap or unknown, with the evidence behind each.
Venevor product screen · synthetic demo data

The framework

What NYDFS 23 NYCRR 500 asks of you.

What it is

23 NYCRR 500 is the cybersecurity regulation the New York State Department of Financial Services applies to the banks, insurers and other financial services companies it licenses. It requires a risk-based cybersecurity program, a CISO, written policies, multi-factor authentication, an asset inventory and notice to the Department of certain cybersecurity events. Each year, covered entities file either a certification of compliance or an acknowledgment of noncompliance.

23 NYCRR Part 500, Cybersecurity Requirements for Financial Services Companies

Who needs it

  • Banks, insurers and money transmitters licensed in New York
  • Larger Class A companies with added requirements
  • Financial services firms preparing their annual filing

1Annual filing

Evidence behind your annual certification

Each year your organization certifies compliance or acknowledges where it falls short. Venevor keeps the timestamped evidence and readiness history behind that decision, and the filing itself stays with you.

2Access and assets

MFA and asset inventory read from source systems

Identity connectors such as Okta and Microsoft Entra ID, and device connectors such as Intune, read the systems your access and inventory requirements depend on.

What it does

Takes an automated control's status from its latest check.

What it never does

Let anyone set that status by hand.

3Board oversight

Reporting for your senior governing body

Part 500 expects the board to oversee the cybersecurity program. Venevor's board report gives them a current view of readiness, with verified and asserted kept separate.

Capabilities

Built for NYDFS 23 NYCRR 500.

  • Part 500 pack

    Program, governance, access, inventory and incident requirements, mapped to your controls.

  • Incident tracking

    Incidents record their breach-notification status, so notice decisions are documented.

  • Asset inventory

    Assets come in from connected systems such as Intune and ServiceNow.

  • Third-party questionnaires

    Assess third-party service providers with questionnaires and keep their responses.

  • Exceptions with expiry

    Every exception has an owner and an expiry date, and it never overrides an automated status.

  • Board report

    Give the board a current view of readiness built from live evidence.

One set of evidence

The same checks count toward other frameworks.

FAQ

NYDFS 23 NYCRR 500 questions.

Does Venevor file our annual certification?

No. Your organization files the certification or acknowledgment with NYDFS. Venevor keeps the evidence and readiness history your signers review before they file.

Can Venevor help with cybersecurity event notices?

Incidents in Venevor record a breach-notification status, so the notice decision is documented with the incident. Determining whether to notify, and sending the notice, stay with your organization.

How do we handle third-party service providers?

Send vendor questionnaires, keep the responses with each vendor's record, and track third-party risk beside your own controls.

Can examiners or auditors review our evidence?

Yes. Give them a dedicated workspace with the controls, evidence and history in scope, with export.

See your NYDFS 23 NYCRR 500 readiness on real evidence.

A walkthrough built around your frameworks and the systems you already run.

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