Keeping board data safe: Security is a key reason to use a governance tool.
Directors often see sensitive information—whether that’s a credit union’s financials, legal questions or member data. So, it stands to reason that the information directors are accessing needs to be highly secure to protect the organization and its members. Fortunately, modern board portal solutions can help.
With 3.9 billion users in the U.S. alone, email is a convenient, ubiquitous way to communicate. However, because it is so commonplace, it’s easy to have a false sense of security.
“Although email may seem private, it is not a secure method for discussing board-related matters or sharing sensitive documents,” says Ian Warner, president/CEO of CUES Supplier member Aprio Inc., Vancouver, British Columbia, who wrote more about this topic in this article. “Board members often use their personal email address for credit union communications, which brings a potential security risk considering these are usually less secure than corporate email channels.”
Kenny O’Reilly, president of CUES Supplier member MyBoardPacket.com, Arroyo Grande, California, thinks that boards will do the best job of securing their data when your IT team provides data security guidelines for directors to follow.
“Each credit union should review its unique concerns and implement a policy that dictates its data’s safety, how it is accessed and stored on a director’s device,” he says. “Consider drafting a written policy on data use, signed by each board member, or a short training session for each volunteer.”
“Today’s digital governance platforms help promote board engagement while providing a streamlined experience so directors, even those skeptical of technology, find it straightforward and intuitive,” adds Paroon Chadha, CEO of CUES Supplier member Passageways, Indianapolis. “A progressive platform should also maximize your board’s time and experience, evaluate governance maturity and, above all, enable faster, more informed decisions. But given the sensitivity and density of the information shared with the board, organizations must first ensure their chosen board platform has a world-class security foundation.”