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September 17, 2008 - State credit union examiners from across the country took part in NASCUS’ first Information Technology Forum, September 8 – 12 in Salt Lake City, Utah. The class was held at Utah’s Department of Financial Institutions and was led by popular NASCUS instructor Tom Schauer, CEO of TrustCC, an information technology (IT) and security audit firm.
Schauer used his extensive knowledge of IT audits and his examination experience to lead examiners through a wide range of regulatory, technical and non-technical issues. Other trainers included Tom Wright, publisher of Credit Union tech-talk, and Alan Lacey, an examiner for the Utah Division of Financial Institutions.
The week-long class took participants from beginner through advanced IT topics that examiners could encounter during an IT examination. The first day consisted of sessions on the Gramm-Leach-Bliley Act, how to structure an effective IT exam, recommended IT policies and a discussion on the AIRES IT questionnaire. Schauer stressed that as financial institutions become more reliant on information systems, understanding a credit union’s IT operations is becoming a more critical examination component.
The rest of the week featured topics such as member information security risk assessments, board and management involvement, business continuity planning, server and workstation best practices, file encryption and more. Wright took participants through IT threats related to physical security, as well as member online services. Lacey’s presentation centered on security awareness and training from an experienced financial examiner’s point of view.
The forum culminated with a case study that allowed examiners to apply their knowledge to a simulated IT exam of a financial institution. Examiners walked away with a more complete picture of credit union IT operations, as well as practical ideas of what to look for when examining a credit union IT program.
The IT Forum was held in conjunction with the Utah Department of Financial Institutions as part of NASCUS’ continued efforts to partner with state agencies on requests for specific examiner training. NASCUS is currently developing an asset/liability management school. If you are interested in hosting this event in your state, please contact Ryan Taylor at ryan@nascus.org.
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