3 Ways Your Credit Union Risk Assessment Can Help You Sleep

by Robin Remines

Today’s credit union leaders are faced with the growing complexity of securing their I.T infrastructure while strictly adhering to an exponentially growing body of regulations. We have clients ask us all the time about best practices for disaster recovery, business continuity and information security. The answer is simple – the “best practice” is the one that allows you to sleep at night. And to do that, you must assess your risks and mitigate them based on your credit unions strategic goals. We’ve developed a library of relevant blog postings on credit union risk assessment that will walk you through the task.

Oh, I almost forgot! You wanted information NOW so you could catch up on that sleep tonight! Maybe give you  the “Readers Digest Condensed Version”? Let’s look at the top 3 ways your credit union risk assessment can help you sleep (check out the relevant posts at the bottom for in-depth information though!).

Sleep Aid #1 – Done well, the risk assessment let’s you know where to put your “worry” energy. Your first step during a risk assessment is to identify your threats. Who or What is the “enemy”? Used to be the bad guy in the financial world wore a hoodie and dark glasses. Today, you have to look closer and farther at the same time!Insider threats and cyber-threats have increased in recent years coming in a close second to most environmental/weather related disasters.  Once I know what I need to protect myself against, I’ll relax a bit more because then I’m empowered to develop plans against them.

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