On February 24, 2015, CU*Answers, a 100% credit union-owned CUSO, hosted an interactive panel discussion titled “Conversations on Compliance” featuring industry compliance experts detailing the current cybersecurity landscape and effective methods for managing today’s cyber risks. The event was attended by compliance officers and managers from in-network credit unions.
Topics discussed during the afternoon session closely followed the guidelines set by the published FFIEC Cybersecurity Assessment General Observations, including:
- Cyber Risk Management and Oversight
- Threat Intelligence and Collaboration
- Cybersecurity Controls
- External Dependency Management
- Incident Management and Resilience
“The network is expanding like never before,” shared panelist Jim Lawrence, CBCP, Manager of Business Continuity and Recovery Services at CU*Answers. “New technology service providers, payment systems, video/imaging, mobile, IoT, cloud computing, and the like are adding complexity to the business model and vendor supply chain. An organization’s business resilience is only as strong as the weakest link. A credit union’s vendor management process must include the assessment of each third-party relationship’s security, capacity, and capabilities to properly understand and prepare for current and future cyber threats.”
As part of their commitment to their network of over 200 credit union clients, CU*Answers provides panel discussions and focus groups in addition to professional education courses (classroom and web-based) on cybersecurity and compliance topics relevant to today’s credit union operations.