The ever evolving landscape of cybersecurity and cyber risk presents a unique challenge. As the threats and associated risks continually change, it can be difficult to stay abreast of the latest recommendations, guidance, and best practices. FINOSEC President and CEO Zach Duke spent some time talking to Joel Williquette, Senior Vice President of Operational Risk Policy for the ICBA to discuss some practical cybersecurity tips for community banks. We have linked the entire conversation at the bottom of this post, but here are 5 of the key takeaways in considering how to identify, evaluate, and address cybersecurity risks at your institution.
In our conversations with the over 100+ community banks during the ICBA ThinkTECH we saw time and time again that cybersecurity governance is complicated, labor-intensive, and leaves community bankers feeling overwhelmed. As we dove deeper into our discussions we found these three common challenges.