Pub. 2 2013 Issue 1

14 l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s REVIVING “BORED” MEETINGS WITH BOARD PORTALS F EWTHINGSMAY BEMORE ROUTINE FOR YOUR BANK than executing boardmeetings. Materials are prepared, mailed out and then hauled back in by your directors for discussion during meeting. It’s a process all financial institutions know well, and it’s one that can be a bit tedious and mundane. Imagine how your board members must feel about this paper-laden, back-and-forth process. Just like your customers and employees, your board members also are on the move — relying on laptops, mobile phones and tablets to keep in touch with bank business while on the road. Remote access delivers numerous conveniences, and board portals make it easy to connect from home, the office, and anywhere in between. Secure Connections Preparing and disseminating sensitive bank documents can be a daunting task. You and your staff undoubtedly spend days collecting, compiling and duplicating important materials. Once assembled, these packages must be distributed to board members in advance, so that they can review the materials and prepare for any upcoming decisions. And mailing paper documents creates its own privacy concerns, since confidential informa - tion is now exposed outside the four walls of the organization. Increasingly, banks are turning to online board portals to address these chal- lenges. Board portals allow authorized persons to post and access confidential data from the convenience of their home or office. Instead of waiting for a paper package to be assembled and shipped, the necessary people receive instant, secure access to documents that are posted to the portal. The portal should be fully compatible with web browsers and mobile devices, enabling board members to bring their paperwork to board meetings on their laptop, tablet or smartphone. Enhanced Security Ease of access is important, but security remains the top priority for sensi- tive and confidential board documents. Viable portal providers incorporate key security features within the technology. The most beneficial feature allows only designated individuals access to confidential materials. An extended security feature can enable users to limit who can view certain materials and allows directors to specify which board members or com- mittees can access particular documents. But what about lost or stolen devices? Many banks fret about this oc- curring, but you can ensure compliance and security with a little planning and preparation. Banks must develop corporate policies that cover every aspect of device use — and these policies should extend to board members as well. One important aspect to include is Mobile Device Management, whereby the organization decides which devices will be supported and what level of access is acceptable for compliance, with options rang- ing from enforceable complex passwords, encryption or patching, and remote-wiping rules. Policies should detail an acceptable-use strategy detailing the ways in which board members may use their devices while using bank networks or resources. To prepare for the worst-case scenario, the policy must outline a plan in the event a device is lost or stolen. Board members need to know the Bill Evers, Director of Business Development, CSI