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

• DOI: http://doi.org/10.1002/jcaf.22031
• Author: John A. Pendley
• Published date: 01 March 2015
• Date: 01 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.