MADISON, Wis. (8/18/11)--The Credit Union National Association (CUNA), CUNA Strategic Services providers and other vendors are offering Webinars to help credit unions meet the new requirements of the Federal Financial Institutions Examinations Council (FFIEC) Authentication Guidance. CUNA Strategic Services and TraceSecurity will present a free webinar “Preparing to Comply with the New FFIEC Guidelines” at 1 p.m. CT today. The new guidelines emphasize the necessity for performing and reviewing annual comprehensive risk assessments, effective “layered security” for mitigating identified risks, and improved member/customer and employee awareness programs. Among the issues to be covered in the webinar:
* Changes to the guidance since the 2005 revision; * How the new changes impact credit unions; * The new “best practice” standards; * The necessary steps needed to ensure compliance; * How to determine a compliance road map; and * What examiners will assess after the deadline.
TraceSecurity is a CUNA Strategic Services provider. The CUNA Center for Professional Development will present the webinar “New FFIEC Guidelines: Authentication in an Internet Banking Environment” at 2 p.m. CT, Sept. 7. Catherine Yao, information systems officer in the National Credit Union Administration Office of Examination and Insurance, will address what the NCUA expects credit unions to have in place by January 2012 and what the examiners will be looking for. Yao will outline the three main components of the guidance: risk assessment, layered security and member/customer awareness She will be joined by be a representative from one of CUNA’s strategic partners and a credit union information technology professional to discuss the guidance and offer credit union best practices. Also, HEIT, a provider of cloud-delivered, managed services for community financial institutions, will present a Webcast, “Federal Financial Institutions Examinations Council Authentication Sleeper Details, Trends & Challenges” at 10 a.m. MT, on Aug. 24. The webinar will include insight from a recent survey of peer community financial institutions on key issues regarding 2011 authentication trends and challenges. Among the questions to be addressed:
* What is the real purpose of the supplemental guidance? * What are the minimum requirements mandated? * Why is multi-factor authentication not required for retail/consumer online transactions? * What additional authentication technologies should be considered? * What needs to be done right to prepare for 2012 examinations?