Certified Banking Privacy Board Member – Level 1

Overview

Are you a Board member of a financial institution who does not understand data privacy? There are a variety of reasons requiring your financial institution to implement an Information Privacy Program, including international and state privacy laws providing consumers control over their financial data. Further, the Open Banking Initiative and the Consumer Financial Protection Bureau 1033 Ruleset requires financial institutions to provide consumer visibility and control of their data beyond privacy notices and opt out procedures. Lastly, with CFPB 1033, financial institutions are required to provide the consumer’s data to authorized third parties at the consumer request. How is your financial institution going to carry this out? All of this points to the need for all financial institutions to develop and implement a top-down, well managed Information Privacy Program (IPP). Overnight this became a responsibility of the Board. Are you ready for governing an Information Privacy Program and the privacy responsibilities of your financial institution?

Learning Objectives

If you feel like you are ill-equipped to be on the Board of a financial institution to fulfill data privacy responsibilities, join the club. Privacy laws and regulations are confusing and ever changing, but they are also necessary in the new Open Banking ecosystem. Begin to demystify this area with certification that will help you:

• Understand data privacy and how it is similar and different from information security
• Gain an awareness of data privacy harms you want to mitigate for your accountholders
• Review data privacy laws, including:
  • Gramm-Leach-Bliley Act
  • GDPR and other international laws
  • Data breach notification laws
  • State privacy laws
  • CFPB 1033 ruleset
• Learn what data privacy-related committees you should establish at your financial institution
• Understand the roles and responsibilities of a Board member as it relates to privacy
• Learn what documentation you should require supporting a data privacy program
• Understand where management testing and auditing fit into the information privacy program and the role of the Board
• Understand the key privacy roles and responsibilities of various leaders and staff members at your financial institution
• Understand what a top-down Information Privacy Program looks like for your financial institution
• Gain familiarity with sections of a privacy budget

Audience

Board Memeber

Instructor Contact Information

Please note that Dr. Streff’s contact information has changed after the creation of the coursework. Please use this contact information versus the one provided within the coursework.

605-270-4427

[email protected]

drstreff.com