The convenience/security tradeoff

first_img 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr This is bonus coverage from “In-Branch Privacy” from the July 2016 issue of Credit Union Management magazine.In credit union branches and with digital offerings, tension often exists between making services available and convenient and preventing potential breaches of members’ personal information.For example, Sikorsky Financial Credit Union in Stratford, Conn., works with a third-party vendor where the data-sharing and vendor controls are not ideal from Brian Nesgoda’s perspective. However, the vulnerabilities and risks of using this vendor’s offering were identified, the business case was made, and the service went forward, says Nesgoda, SVP/risk management/chief information officer for the $700 million CU.“You pick your battles,” he observes, “and you keep trying to improve the controls.” Where conflicts between offering a convenient service and security are resolved, Nesgoda explains, is at the enterprise risk management level, where the goal is setting appropriate risk tolerances. Sikorsky Financial CU relies on a finance and enterprise risk management committee, made up of management and board representatives, which wrestles with these issues and reports its findings to the board. continue reading »last_img


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