Introduction: Streamlining Data Management in Cybersecurity

Continuing our initial discussion in the 3-part series from the R-SAT v2.0, we turn to the core of data protection: data management. As an Information Security Officer, your role is pivotal in safeguarding your bank’s assets. Comprehensive protection begins with the knowledge that every system – and each piece of data within those systems - is known and accounted for and is managed with the utmost care.

Introduction: Navigating the New Cybersecurity Landscape

Welcome to the first installment of our in-depth three-part series, building upon our November 14^th  webinar on the new Ransomware Self-Assessment tool (R-SAT v2.0). The new R-SAT was released by the Conference of State Bank Supervisors in mid/late October. 

As of October 24^th, 2023, a new version of the Ransomware Self-Assessment Tool (R-SAT v2.0) has been published for banks to help mitigate new risks associated with ransomware attacks and identify security gaps.  

In today's rapidly evolving digital landscape, financial institutions are under constant threat from cyber adversaries. While policies, security information and event management (SIEM) systems, firewalls, and encryption are indispensable, there's an often-underestimated element: effective cybersecurity training for employees.

The Federal Financial Institutions Examination Council (FFIEC) updated its Authentication Guidance in August 2021, which aims to standardize and enhance security measures for financial institutions. We are seeing a focus on these areas during exams and audits, and understanding these new guidelines is crucial for compliance and risk management.

Today, we’re delving into an essential topic that affects both the security and the integrity of your digital assets: privilege creep. In this blog, we’ll explore the potential risks, and provide you with actionable strategies to prevent this sneaky threat from undermining your cybersecurity efforts.

One of the most difficult moments in my career happened several years back at an ICBA Live event in New Orleans.   I can immediately go back to that moment…

“The Customer is Why You are in Business”  Allen Duke, Mentor & Father.

Those who know me well have probably heard me talk about my father's impact on me and business.   For those of you who haven’t heard the passion I have related to these lessons I learned, here is some context:

My dad was a manufacturer sales representative for furniture companies, selling furniture to furniture stores across multiple states.  My dad was intentional about teaching me business lessons; some of the most memorable lessons were when I would travel with my dad.  As part of these trips, we would visit his customers all across the territory.  I learned so much from these trips and have many fond memories of the time with my dad…

One of the lessons that he continuously reiterated to me was that “The Customer is Why You are in Business.”   Being in business held a ton of weight, partly because my dad didn’t have a base salary; he only made an income if the furniture stores sold his furniture, and it was embedded in his deep-rooted integrity for going the extra mile.

In case you haven’t heard, we are ecstatic to announce that Beth Sumner has joined us as VP of Customer Success.  Beth has deep roots in community banking, technology, and information security.  As part of her role, she will be a facilitator for our customers to maximize the Finosec impact of helping our customers simplify information security and cybersecurity governance.  She will also be a conduit for our customers to give our team feedback on enhancements and improvements we can make to go the extra mile for our customers.  If you are a customer, be on the lookout for a meeting with Beth in the coming weeks, and if you have known Beth for as many years as I have, you know we are truly blessed to have her on the team.