As remote work piled up over 2020, a rash of worrisome compliance incidents started showing up in credit union audit departments. Chief among those incidents were the following symptoms:

Credit union audit management software update from redboard

We’re proud to announce the release of Redboard 11.1, the best version yet of our credit union audit management software. We’ve added new productivity enhancements to ensure smoother, more efficient audits and exams.

Posted In:

Effective credit union audits with redboard

Do you want to guarantee that your credit union deals with audit findings reliably and on time? In this blog, we outline simple, repeatable process to ensure that your findings are cleared quickly.

Posted In:

Each year, the NCUA sends out their list of supervisory priorities for the year. Credit unions preparing for their exams can reference the letter to focus on specific areas.

Posted In:

Are your credit union audit findings always resolved reliably and on time? Have you ever found inconsistencies or outliers? Have you dealt with repeat findings?

Posted In:

At Redboard, we help credit unions organize, streamline, and even automate their audit processes. Over the years, we’ve developed a framework in which to conduct audits. It’s simple, repeatable, scalable, and most importantly, it works.

Recently, we spoke with Angie Garman, the internal audit manager for First Florida Credit Union (FFCU). As part of her effort to centralize identity and access management (IAM), she’s been taking a closer look at the risk that ex-employees pose to credit unions. Ray Murphy, former CISO of Navy Federal Credit Union and information security expert, joined us.

It's increasingly important to centralize identity access management (IAM) at credit unions. Unfortunately, it's easier said than done.

If you’ve thought about centralizing IAM in your credit union, but don’t know how to start, then this blog is for you.

Posted In:

Ongoing changes in operational practices bring new security risks. I sat down with some credit union professionals to discuss pandemic-era changes, work-from-home, and best practices in identity access management (IAM) for credit unions.

Angie Garman, Internal Audit Manager at First Florida Credit Union, and Ray Murphy, cybersecurity strategist and former CISO at Navy Federal Credit Union, weighed in.

Our talk covered identity access management (IAM), from user privileges to offboarding employees. In the video, they discuss how credit unions have been handling these issues—and what steps they can take to minimize risks therefrom. If you intend to centralize your credit union’s IAM, or if you want to reduce the likelihood of insider threats, then this video is a must-watch.

So, dim the lights, grab your popcorn, and dig in!

Free Webinar

Learn a structured process to manage the findings process. Resolve audit findings — on time and as expected. Escape from the pain of managing via spreadsheet and cut your administrative time in half.
Sign Up Now >

Centralizing IAM can be challenging, but it’s critical in today’s work environment. Credit unions can start the process without overburdening the IT department by:

  1. Inventory: Create a detailed list of applications and users, including roles, administrators, and maintenance responsibilities. Update this inventory regularly, and always when employees join or leave.
  2. Clearly defined roles: Establish clear roles for app users and administrators, assuring those with admin access have separate user IDs for their administrative and regular duties. Ensure each employee’s job description specifies required app access based on their role.
  3. Onboarding and offboarding protocols: Set procedures for granting and terminating app access—overseen by app administrators—to maintain security and compliance.

Future steps may include building an identity infrastructure and possibly implementing single sign-on (SSO) solutions for ease of use and enhanced security. Those improvements, plus the ones above, would ensure a manageable shift towards a more centralized IAM system.

You can learn more about the three steps above by clicking here.

Posted In:
Credit union post-pandemic audit strategies for credit unions from redboard

The COVID-19 pandemic has fundamentally changed current audit operations at credit unions. And some of those changes may have lasting strategic consequences.

Posted In: