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IT Risk Assessments

You know that understanding and mitigating IT risk is important for every credit union. Protecting your information systems and data is crucial to keeping your members’ information, and your operations, safe and secure. An IT Risk Assessment ensures the technology and systems at your credit union are fully compliant with industry standards/best practices and regulatory requirements.

Outcomes of an IT risk assessment

Finding the problems that might expose your credit union to risk and making sure you’re doing the right things around information security are the main reasons why risk assessments are a good idea, but there are a other outcomes to consider:
In addition to finding and highlighting potential issues and problems with your information security, an IT risk assessment from Celero provides clients with a list of things they need to address to effectively mitigate their IT risk. Rather than guessing where you need to focus first, Celero experts can help you prioritize your efforts.
A Celero IT risk assessment goes beyond just looking at the technology aspects of information security. Our experts also examine the other two sides of the information security triangle - people and process - to develop a full view and understanding of how information security and risk is managed at your credit union.
An IT risk assessment not only looks at what your organization is currently doing to mitigate IT risk, but checks it against your existing policies and processes to highlight potential gaps. An assessment will help identify the unique policy and process requirements of your credit union and help you align with industry best practices and standards.
An IT risk assessment will provide you valuable information to help you better understand if your spending your IT security budget in the right places and getting the right return on investment. An assessment can also help you better quantify business risks so you have a clear understanding of the potential cost to your credit union if you don’t effectively manage information security risks.
An IT risk assessment captures and documents what your credit union is doing to manage IT risk, in comparison to industry standards and best practices, creating a valuable reference tool to demonstrate due diligence and provide an accurate assessment of your organization’s current security posture.  In addition, an IT risk assessment identifies key areas of improvement that are required to ensure the information technology practices incorporate industry standards.
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