Inaugural Credit Union Cyber Security Symposium Concludes
November 14, 2014 – After two days of intense discussion about cyber security, specifically on topics like breaches, protecting credit unions, the National Institute of Standards and Technology framework and disaster recovery, the inaugural Credit Union Cyber Security Symposium has come to an end.
The symposium, which took place at the Hyatt Arlington in Arlington, Va., was hosted by NASCUS in partnership with the Credit Union National Association and emceed by Tom Schauer, CEO of IT security firm TrustCC.
“We aimed, through this symposium, to heighten awareness to various issues regarding cyber security throughout the credit union system and we believe we have done that here,” said NASCUS President and CEO Lucy Ito.
The symposium kicked off with a presentation by Schauer, who asked, “What is Cyber Security?”
The U.S. Department of the Treasury’s Director for Cyber Intelligence Julia Philipp, who on Thursday addressed “The State of Cyber Security” at the symposium, lauded NASCUS and CUNA for holding it. Treasury is working with NASCUS to improve financial sector resiliency.
Former Pentagon Federal Credit Union CIO Ian Harper discussed cyber breaches during his presentation on Thursday, saying that the legal complexity of notification drives administrative expenses.
On Friday, Tim Segerson, deputy director in the NCUA’s Office of Examination and Insurance, who spoke on “Cyber Security: The View from Washington,” and also took part in an open panel Friday with the state of Massachusetts’ Holly Chase and the state of Michigan’s John Kolhoff, said thinking about “impossible” situations and factoring them into planning is “probably the most important thing you can do because eventually you’re going to get hit.” Knowing what to do and how to react, he said, is important.
Casey Boggs, with LT Public Relations, who also spoke on Friday, agreed. “Crisis management is 99 percent preparation and one percent execution,” he said.
Other speakers at the symposium included BakerHostetler’s Randy Gainer, the state of Massachusetts’ Holly Chase, McGovern Smith Advisors’ Paul Reymann and CUNA Mutual’s Jay Isaacson.
The symposium drew nearly 100 individuals, including executives from credit unions, state and federal regulatory agencies, trades and private sector security response firms, and members of the press. NASCUS intends to hold another Credit Union Cyber Security Symposium next year.