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Carmine Cicalese advises credit union leaders to “get under the hood” of the seven types of risk NCUA expects credit unions to manage: credit, interest rate, liquidity, transaction, strategic, compliance, and reputation.
Among those, transaction, strategic, and reputation risk have the most to do with cybersecurity, says Cicalese, president/founder at Cyber CIC. He addressed the 2023 CUNA Cybersecurity Conference with NASCUS Wednesday in New Orleans.
He advises credit unions to educate members about the cyber-risks they face and stresses the need for cybersecurity and digital transformation expertise on the board.
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