MADISON, Wis.–The CUNA Technology Council has published a new white paper, “IT Risk Management.”
“In the past, enterprise security was all about circling the wagons and making sure the credit union had good people on the team,” the Tech Council said in releasing the paper. “Firewalls and intrusion prevention systems (IPS) protected the perimeter, and antivirus software provided extra protection on the inside. However, as technology has evolved with ease of use and automation, credit unions are finding themselves relying heavily on IT services to obtain their strategic initiatives.”
The Tech Council said the white paper helps credit union technology leaders understand the need for IT risk management framework adoption. It also introduces a systematic approach to managing technology risks and helping credit unions overcome common challenges, including:
• What is an IT risk management framework and why should an organization adopt it?
• What frameworks are available, and which is best for an individual credit union?
• Who is responsible for implementing and managing IT risk management programs?
• What are the key elements of a mature risk management program/framework?
• What are the roles of senior executives and board members in the risk management process?
• How can a credit union with limited resources implement an effective risk management strategy?
• What is the best approach to ensure that the credit union is maintaining compliance with constant changing regulatory requirements?