Information Security and Cloud‐Based Computing: Tools for the Corporate Treasurer

DOIhttp://doi.org/10.1002/jcaf.22031
Published date01 March 2015
Date01 March 2015
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© 2015 Wiley Periodicals, Inc.
Published online in Wiley Online Library (wileyonlinelibrary.com).
DOI 10.1002/jcaf.22031
by the treasury function. Those
challenges and some important
information technology (IT)
security and compliance con-
siderations are presented in this
article.
Because smaller organiza-
tions may lack the resources for
full and complete cybersecurity,
the article is written primarily
for the treasurers of the small or
midsized organizations. But any
John A. Pendley
I nformation Security and Cloud-Based
Computing: Tools for the Corporate
Treasurer
Corporate treasur-
ers are responsible
for a great variety
of activities. In addi-
tion to policymaking
roles, treasurers may
also be responsible
for certain day-to-day
activities, particularly
those related to cash
management and
investment policy. For
example, some treasur-
ers are responsible for
the management of
customer invoicing, bill
payment, cash trans-
fers, and securities pur-
chases and sales. With
such a wide breath of activities,
it seems overkill to add informa-
tion security to the mix. But,
unfortunately, such must be the
case in today’s information pro-
cessing environment.
This article describes cyber-
security issues for the financial
treasurer. The treasurer faces
some unique challenges because
of the low-volume, high-value
transactions typically handled
financial manager
involved in treasury-
related functions
should have a work-
ing knowledge of
data security basics.
ARE YOU
PREPARED?
Many types
of data routinely
handled by treasury
departments are
vulnerable to data
loss or compromise.
Cash transfers are
routinely made in
order to manage
cash balances and ensure the
availability of funds across the
organizations’ functions. These
transfers involve important and
sensitive data, including account
numbers, passwords, transaction
identifiers, and routing numbers.
Many treasurers oversee
investments and manage debt.
To do so requires the execution
of securities transactions
that involve accounts, fund
This article describes cybersecurity issues for
the financial treasurer. Although job descriptions
for corporate treasurers probably don’t mention
systems and information security, many treasury
services are now digitized, which raises the risk
of information being compromised by hackers,
malware, or computer viruses. In this information
technology (IT) environment, treasury officials are
increasingly being asked to justify the steps being
taken to secure and control the electronic trans-
actions and digitized data under their jurisdiction.
This article will help by describing practices and
tools available to secure modern financial pro-
cessing systems from unauthorized access.
© 2015 Wiley Periodicals, Inc.

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