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Your Quarterly Info RoundupQ1 of 2024

The Finosec team is proud to introduce our new quarterly newsletter: Fortify. Our goal is to be a beacon of knowledge and expertise to our industry partners, helping you to strengthen your processes and individual expertise around cybersecurity. Each quarter, we will roundup the most impactful industry updates and educational resources and send them straight to your inbox so you can leverage them to drive progress within your organization.

Company Updates

We are thrilled to welcome Katlynn Pyatt to the Finosec Team as our new Director of Marketing! With a strong history of marketing for the financial industry and for FIs themselves, she brings a wealth of knowledge to the team and we are excited for the impact she will have here at Finosec.

Check Out Our Latest Blogs

Succession Planning: Essential for Sustaining Information Security

In today’s world where cyber threats evolve rapidly, the challenge of replacing an Information Security Officer (ISO) underscores a critical issue: the cybersecurity job market is scorching, yet talent is scarce. This gap has turned recruitment into a high-stakes game for financial institutions, where the departure of an ISO exposes vulnerabilities and regulatory risks. With remote work expanding the competition for skilled professionals, the importance of strategic succession planning has never been more acute, ensuring that institutions remain fortified even in the face of staffing changes.

Partnering for Peace of Mind and Effective Oversight

Pendleton Community Bank, a $700 Million Dollar Bank with 133 Employees in Franklin, WV, led by CEO Bill Loving, faced a critical challenge when their Information Security Officer departed, leaving a significant void in their oversight capabilities. Their goal was clear: establish an effective process for information security governance and cybersecurity oversight to ensure compliance and peace of mind.

Finosec in the News

The Credit Union Connection: Integrating NCUA Supervisory Insights with Third-Party and CUSO Risks
Independent Banker: The Best Defense Against Ransomware
Builder, Banker, Hacker, Chief Podcast: Zach Duke - Breaking Technology, The Journey of Self Awareness, and Embracing Failure Through Baby Steps
Bankers as Buyers 2024: How Strategic Planning Impacts Third-Party Risk Management

Regulatory Updates

The Federal Financial Institutions Examination Council (FFIEC) Authentication Guidance update in August 2021 has marked a significant step towards enhancing authentication and security access measures within financial institutions. Further illuminating this focus was a notable consent order issued by the Federal Deposit Insurance Corporation (FDIC) and the Texas Department of Banking in October 2023. This order offers a practical view into the expectations set forth by regulatory bodies, emphasizing the importance of strict compliance and the implementation of robust security measures.

Areas that are covered in recent regulatory actions include:

Identity Access Management
Monitoring and Logging
Independent Verification
Inventory Management
Specialty Software Administration

Access a blueprint for your next exam by understanding what’s in most recent orders and how you can best prepare in our latest blog.

RSAT 2.0 – As many organizations continue to work on updating security around ransomware, we’ve created a series to help quickly get you up to speed on key areas to focus your team’s efforts as well as a detailed webinar. The series includes:

On The Road

We recently attended ICBA Live and the Georgia Bankers Association Operations and Technology Conference, where we got to participate not only with a booth but with speaking opportunities as well. Finosec’s Beth Sumner was part of a panel at ICBA Live on essential information security and cybersecurity strategies, while CEO and Founder, Zach Duke, spoke at the Georgia Bankers Association Conference on conversational AI.

Connect with us at the following upcoming events:

CSI CX24, April 14-April 17 - San Antonio, TX
JHA Silverlake Southwest, April 16-April 19 - Dallas TX
20/20 Perdido Beach, May 6-May 8 - Perdido Beach, AL

Finosec Forward

This quarter, we are thankful to have had the opportunity to support Fathers In The Field, an organization dedicated to mentoring and supporting fatherless children on behalf of David Franklin, and Learning To Serve – Georgia, which provides children with scholarships for school choice opportunities in honor of Zach Horn.