Here are 5 first steps for initiating this mutually beneficial relationship:

Request a list of security best practices, or the company's security policy, from your CISO. It's an easy ask and will enable treasury staff to identify any areas where treasury security policies differ from corporate policies in significant ways.
Acquire a list of data-security best practices and policies from the vendor of your treasury management system, and present this list to your CISO. Your vendor should have this information readily available. The treasury team's ability to adhere to policies and establish workflows that effectively protect corporate data will be useful in company compliance audits.
Establish security KPIs with your team. Effectively monitoring access to the corporate treasury management system will impress the CISO. Request a simple report on security access from your treasury management system vendor.
Request training on securing your treasury management solutions. As part of today's ongoing education for treasury certifications, many webinars and conference training sessions offer tips and best practices that reinforce the importance of secure passwords and multi-factor authentication. It's a good idea to ask your team to provide a list of the security training they've undergone, and to include that information in reports on the treasury function's security practices.
Treasury systems via VPN: New, best-in-class cloud solutions run in data centers and utilize data security services that most CISOs prefer to see. Nevertheless, there are options for enhancing security for companies that run their treasury management systems on-premises. One key security measure is ensuring that employees working from remote locations can access treasury data only via a locked-down and secure VPN.

Protecting systems from unauthorized users, always keeping data encrypted, and implementing a standard set of payment controls will help significantly reduce the risk of fraud. The final line of defense should be scenario-based payments screening to detect, in real time, any suspicious payments that need another look before being released.

Instant Insights /

Team with the CISO to Keep Treasury Data Secure

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