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. This is the story of how Finosec partnered with Bill’s team at Pendleton Community Bank to meet these crucial objectives.

The Challenge

Pendleton Community Bank, nestled in the heart of West Virginia, is a vital community bank serving its community. However, when their Information Security Officer left the bank, they were suddenly confronted with a serious challenge. The absence of an oversight process left them exposed to potential cybersecurity threats and compliance risks. Bill Loving, CEO of the bank, needed a solution that could quickly fill this gap.

The Solution

Bill and his team turned to Finosec and their Governance 360 Platform, a comprehensive solution for compliance, risk management, and information security governance. Here’s how Finosec Governance 360 Platform addressed Pendleton Community Bank’s needs:

Proven Process for Information Security Governance

Finosec provided Pendleton Community Bank with a structured and proven process for information security governance. It empowered the bank to identify, assess, and mitigate risks effectively. With the platform’s user-friendly interface, Bill’s team could quickly identify compliance gaps, and validate controls to protect sensitive information. Bill commented, “Our partnership with Finosec was a game-changer. It gave us the process and tools we needed to strengthen our information security governance.”

Empowering Oversight

Bill’s team found that Finosec Governance 360 offered more than just a software solution. It provided guidance, best practices, and expert insights to empower their oversight capabilities. This allowed them to manage vendor relationships, assess control adequacy, and monitor performance with confidence. Bill noted, “The guidance from Finosec’s team was invaluable. It allowed us to manage our oversight effectively, even without an experienced Information Security Officer.”

Peace of Mind for Bill

Perhaps the most significant benefit was the peace of mind.  Knowing that information security and cybersecurity oversight were being managed effectively allowed Bill to sleep soundly at night. Bill could confidently focus on the bank’s strategic objectives, knowing that compliance and risk management were in capable hands. Bill summarized, “I can’t overstate the comfort I found in our partnership with Finosec Governance 360. It allowed me to focus on leading the bank, secure in the knowledge that our cybersecurity and information security governance were being handled professionally.”

The Results

The collaboration between Pendleton Community Bank and Finosec Governance 360 yielded remarkable results:

• Enhanced Information Security: The bank significantly improved its information security posture and met compliance requirements.
• Peace of Mind: Bill Loving could focus on strategic leadership with the confidence that information security governance was in capable hands.
• Automated Risk Assessment: With Finosec Governance 360, Pendleton Community Bank automated the risk assessment process, reducing manual effort and ensuring a more comprehensive evaluation of risks.
• User Access Reporting and Least Privilege Validation: The platform enabled the bank to establish user access reporting and validate least privilege access, strengthening their cybersecurity defenses.
• Efficient Oversight: Finosec Governance 360 empowered the bank’s team to efficiently manage vendor relationships and assess controls

Conclusion

Pendleton Community Bank’s journey with Finosec exemplifies the power of partnership in addressing critical challenges. By leveraging Finosec’s capabilities and expertise, they achieved greater information security, efficient oversight, and peace of mind for their CEO.

Bill concluded, “Our partnership with Finosec was a pivotal moment for our bank. We now have the tools, process, and peace of mind we need to navigate the complex landscape of information security and compliance.”

Finosec is committed to enabling community banks like Pendleton Community Bank to thrive by providing the necessary tools and guidance for a secure and compliant future.