Pub. 14 2019-2020 Issue 4

NEBRASKA BANKERS ASSOCIATION 21 Alignment Cybersecurity is an enterprise issue that goes beyond infor- mation technology. Effective cybersecurity programs recognize that cyber threats are one of the most critical risk exposures facing the financial industry. Cybersecurity is not merely a technology issue. While the cybersecurity program may have originated in the IT function, effective programs raise the profile of cybersecurity at the institution, allowing decision-making to be independent of other traditional IT considerations. Effective cybersecurity programs recognize the need to completely seg- regate the cybersecurity function from IT function. Strategy Cybersecurity is aligned more closely with the overall busi- ness strategy in institutions with an effective cybersecurity When it comes to building a successful cybersecurity program, however, the report noted that advanced respondents did NOT necessarily spend more on cybersecurity than less advanced respondents. WALENTINE O’TOOLE, LLP When time is of the essence, experience counts. Walentine O’Toole blends confidence, experience and knowledge with the personal attention you can expect from a regional law firm. www.w alentineotoole .com 402.330.6300 11240 Davenport St . • Omaha, NE 68154-0125 An Independent Licensee of the Blue Cross and Blue Shield Association To learn about our plans, visit nebankers.org Proudly offering group insurance to NBA members for more than 30 years. program. With modern banking, all business functions have multiple dependencies on internal and external technology to perform daily operations. Leveraging technology is often how financial institutions compete and differentiate themselves from other institutions across the street or across the nation; however, new technologies may expose the institution to new threats and additional vulnerabilities. Business growth and expansion was the second-largest challenge identified by re- spondents. Management of effective cybersecurity programs requires an awareness of the business growth implications, expansion, and the alignment of cybersecurity with the overall business strategy. Stay Informed CISOs will be continually challenged to justify increased funding for cybersecurity. Using studies such as the reports by Deloitte and FS-ISAC and current industry peer information, CISOs can be better prepared to answer the question of not only, “How much funding do others financial institutions allocate on cybersecurity?” but also, “How are other financial institutions facing the challenge a developing and maintain an effective cybersecurity program with limited funding?”  For more information, contact David Edwards at 913-225-6382 or david.edwards@sbscyber.com. SBS delivers unique, turnkey cybersecurity solutions tailored to each client’s needs, including risk management, consulting, auditing, network security and education. Learn more at www.sbscyber.com.