Five Essential Cybersecurity Tasks to Complete Before Year-End

As we approach the end of the year, it's crucial for institutions to ensure their cybersecurity measures are robust and up to date. We typically put off these key things behind projects and the busyness of the year and forget them, causing some heartburn over the holidays. Don’t do this to yourself this year!

Here are five essential tasks that should be on your to-do list:

1. Conduct a Penetration Test
   A penetration test is a simulated cyber-attack on your systems to identify vulnerabilities that could be exploited by malicious actors. This proactive approach helps in uncovering weaknesses before they can be exploited, allowing your team to address them promptly. Ensure that the test is conducted by a reputable third-party to provide an unbiased assessment. Additionally, consider allowing them to simulate an attack with access to your internal network. While this can be intimidating, with the appropriate guard rails, such as notification before attempting to exploit vulnerabilities on critical systems, this can be an insightful exercise.
   
   
2. Perform an IT Risk Assessment
   Understanding the risks your institution faces are fundamental to developing an effective and proactive cybersecurity strategy. A comprehensive risk assessment will help you identify potential threats, evaluate the impact of these threats, and prioritize your mitigation efforts. This process should be thorough and involve input from various departments to ensure all potential risks are considered.
   
   
3. Review Third-Party Security
   Third-party vendors and partners can introduce significant risks to your institution. Conducting a thorough review of their security practices is essential to ensure they meet your security standards. This includes reviewing their SOC reports, penetration test results, and any other relevant security documentation. Regularly updating these reviews will help maintain a secure supply chain.
   
   
4. Update Your Cybersecurity Strategy
   Cyber threats are constantly evolving, and so should your cybersecurity strategy. Take the time to review and update your strategy to address new threats and incorporate the latest best practices. This should include updating your budget, ensuring your team has access to the resources needed to be successful, and aligning your strategy with your institution's overall business goals.
   
   
5. Report to the Board of Directors
   Keeping the board of directors informed about the institution's cybersecurity posture is crucial. Prepare a comprehensive report that outlines the current state of cybersecurity, recent incidents, and the steps being taken to mitigate risks. This report should be clear and concise, providing the board with the information they need to make informed decisions about cybersecurity investments and policies.
   
   

By completing these tasks before the year ends, you can ensure that your institution is better prepared to face the ever-evolving cyber threat landscape. Stay proactive, stay informed, and keep your institution secure!

If you need help on these five items, we’d love to lend a hand. Contact us at support@bedelsecurity.com.