Cybersecurity is always a hot topic, especially in the financial services industry. And while malicious hackers continue to find new avenues to access your data, security experts are working hard to craft even more resilient cybersecurity strategies.
For credit unions, protecting your members’ data means staying caught up on the latest security resources as well as evolving criminal tactics. Here are five quick tips to help you align your goals and craft a sound cybersecurity strategy.
1. Think forward
When it comes to preventing cyber-criminal activity, a reactive mentality isn’t a risk most credit unions can afford to take. It takes a proactive approach to stay one step ahead of cyber crimes, and accountability starts at the top. Make sure your board and leadership team are aligned on the details of your credit union’s cybersecurity budget, operational roles and responsibilities and overall strategy.
2. Weigh the risks
You can’t be everywhere at once and spreading your organization’s resources too thin only leads to undue stress and weak security. If your institution is smaller or just beginning the journey to enhanced cybersecurity, don’t hesitate to seek outside support to source cybersecurity functions or personnel. Make sure your risk assessments are up-to-date with the latest data and regulations, so you can prioritize like a pro.
3. Keep everyone on the same page
Proper cybersecurity training should not only intersect with every area of your organization, it should be clear and consistent across departments. The last thing you want is a gap in communication causing preventable issues. According to a recent cybersecurity survey by Deloitte, more than half of responding financial institutions had a fully centralized cybersecurity function in order to allocate shared responsibilities among staff.
4. Use the tools available to you
There are a number of solutions available to credit unions seeking to strengthen cybersecurity, but assessing which offerings will prove reliable and serve your unique needs can be difficult. Make sure you know your options, and if possible, consult with technology leaders from similar credit unions on services and strategies they utilize.
5. Build to last
Haphazardly attaching new parts to your cybersecurity program to keep up with shifting trends is both a hassle and the mark of an inefficient system. Invest in a robust cybersecurity foundation that’s capable of evolving along with your organization.
Take these insights into consideration while you’re crafting your cybersecurity strategy this year. Be sure to join us at CUNA Cybersecurity Conference with NASCUS, June 10-12 in Austin, TX for in-depth, expert-lead discussions on these topics and others that are shaping the landscape of credit union cybersecurity.
You can view the full conference schedule at cuna.org/cyber