CUDA Conference 2018
Who are we?
CUNA Mutual is the pre-eminent insurance specialist for Credit Unions. We have unique expertise in protection solutions, tailored specifically to fit the needs of credit providers. We are privileged to serve Credit Unions in Ireland since 1963 and in the United Kingdom since 1974. CUNA Mutual has expertise you can trust.
What do we do?
Life: CMutual has continually been innovating to improve your member’s benefits.
Bond: Safeguarding you in a period of substantial regulatory change.
Come join us at our stand and take part in the CMutual raffle.
Paul Walsh, CEO
Paul joined CMutual in 2007, and has led the European operation through its transformation from a Life insurance specialist supporting Credit Mutuals to a full service protection partner for Credit Mutuals. CMutual is now one of the fastest growing insurers in the mutual area and has broadened its footprint across the Ireland and the UK to include Credit Unions, Building Societies and the mutual insurance and distribution sector. Paul has distinguished CMutual through its strong reputation for excellence in product innovation and customer service, and under his leadership it has emerged as one of the leading values based, ethical and inclusive insurers in the market today.
David Shaw, COO
David joined CMutual in 2008 and applies his broad experience to all aspects of the business. During his career he has worked in a variety of roles in Operations and IT, in both the Computer and Insurance industries.
David started his career with International Computers Limited which was subsequently known as Fujitsu. He spent six years working at DELL as Regional Product Support Manager, responsible for major product launches and customer satisfaction initiatives. David also worked at Barclays, where he was responsible for Operations and IT within creditor insurance. He tackled complex systems, ensuring integration of insurance distribution, underwriting and administration.
David builds strong teams and is an advocate for excellent customer service. He has a track record of implementing efficiencies that deliver service improvement whilst reducing cost.
He graduated with a Master of Science degree and holds a degree in Information Systems as well as other professional accreditations.
John McNamara, Director of Sales
After spending the first 26 years of his career in engineering, the last 14 years spent with Atlas Copco in the aftermarket sales and product sales. John joined CMutual in 2008 and decided to work in Credit Unions Insurance. To get a true understanding of the Credit Union movement, John volunteered as a Director of West Cabra Credit Union for over five years and held a number of positions, including Chairman for 2013 and 2014.
Ann Nolan, Manager of Support Services
Ann Nolan is currently Manager of Support Services for CMutual, and has been part of the CMutual team since 2012.She previously worked in Management for a Large Market Research Agency and has developed her career by specializing in business-to-business client relationships and building mutually beneficial partnerships.
Ann is a highly experienced , competent, motivated and enthusiastic Office and Event Manager with extensive experience of working as part of large and small teams in busy office environments. Well organised and proactive in providing timely, efficient and accurate administrative support to colleagues.
Ann loves her horses and is secretary for her local Riding Club, she competes regularly at the weekends. She is has a B.A. in Philosophy and Greek and Roman Studies and an M.A. in Film Studies from UCD. She has most recently been awarded a Professional Certificate in Insurance (APA), from the Insurance institute of Ireland.
Daire Conlon, Customer Support and Service Executive
Daire is currently a Customer Support and Service Executive at CMutual, he oversees our General Insurance program in the UK and supports our DBI programs, in Ireland, at a project management level. Previously he had a career in sales and gained experience in the hospitality, communications and recruitment industries.
Daire has a B.A. in Business Studies and M.A. in Marketing from the Dublin Business School. He is currently working towards a QFA with the LIA, in Dublin, and has been awarded a Professional Certificate in Financial Advice. Daire is a keen rugby fan and actively plays with his local club.
CMutual and Filene Research announce the signing of their Research and Strategic Insights Collaboration to deliver exclusive research and insight channels for Credit Unions partners in Ireland.
The new Filene partnership will provide a gateway to Credit Unions to gain fast-track knowledge and insight on how other Credit Union sectors have managed many of the challenges that the Irish sector now face.
The new program will enable Credit Unions in Ireland;
Direct access to over 25 years of existing Filene research, conducted on almost every aspect of Credit Union operations and strategy, through CMutual’s direct customer platform;
Dedicated research symposiums and studies which will allow Credit Unions to benchmark and enhance business plans and strategies, based on knowledge and learning from other markets;
The opportunity to attend CMutual/Filene Executive Leadership Conferences in Ireland - major platforms for positive engagement and learning.
‘This is a major positive benefit for Irish Credit Unions as they continue to focus on the changing needs of members, the challenges and opportunities introduced by technology and regulation, and the ambitions of Credit Unions to grow membership by appealing to younger and more technologically demanding members’ said Paul J Walsh, CEO at CMutual.
Tansley Stearns, Chief Impact Officer at Filene said:
“We are thrilled to partner with CMutual on this exciting initiative. As well as making these materials available to our European Credit Union cousins, we look forward to working with those Credit Unions to mutually benefit from knowledge-sharing and research. Credit Unions across the globe share common values that put the needs of members first."
The Filene Research Institute is an independent, consumer finance think and do tank dedicated to scientific and thoughtful analysis about issues affecting the future of credit unions, retail banking and cooperative finance. Founded over 25 years ago, Filene is a 501(c)(3) nonprofit organization. For more information visit www.filene.org and @fileneresearch
CMutual are a dedicated and specialist Insurance provider serving credit mutual organisations in Ireland and the United Kingdom. CMutual partners with over 350 financial organisations, and through their programs, protect over 4 million lives. CMutual are one of the fastest growing credit insurance providers in Ireland and the UK. CMutual have offices in Dublin and London. For more information visit www.cmutual.ie and follow @CMutual_UK_IRL
General Data Protection Regulation (GDPR)
The General Data Protection Regulation (GDPR) is new legislation that will replace all current national data protection legislation throughout the EU Member States. This will take effect as of the 25th of May 2018. Credit Unions have until this time to prepare to comply with their new obligations under the GDPR.
Some areas of focus for Credit Unions are as follows:
Detailed information must be provided to customers on the use and processing of their data. Customers must give consent and also be given the ability to withdraw their consent with ease.
Customers now have more rights, including the right to be forgotten (they can request to have their data deleted) and the right to data portability (to transfer their data to other service providers).
Credit Unions must notify breaches within 72 hours to the local data protection authority. Should a data breach pose a risk to customer data privacy, the customer must inform customers immediately.
Credit unions must assess whether they are required to appoint a Data Protection Officer.
Credit Unions should also revise the processing of their customer data by 3rd party organisations to ensure the customer rights are not being breached.
Breach of obligations can result in heavy penalties. These penalties are tiered, resulting in fines up to 2% or 4% of global turnover.
For more detailed information on how Credit Union's can prepare for GDPR, click here.
Cybercrime has been on a consistent rise over the past decade and in very recent years it has become a top priority for financial institutions. This is now becoming a concern for Credit Union, as in the past Credit Unions may have been too small and would not have considered themselves targets, this has now drastically changed, now small institutions are considered to be quick and easy targets. Cybercriminals will actively test systems to identify weaknesses.
Credit Unions now must consider, “what is the potential harm of a cyber-attack/ breach?”
Damage to property / earnings
Damage to reputation / trust
Damage to customers
Contractual breach or tortious liability – damages
Legislative / regulatory breach – costs and fines
“You shouldn’t worry about if your credit union will be hacked, but when. Take the needed steps to protect your organization and maintain members’ trust. Here are some good places to start:
Invest appropriately in staffing, education, and training. Hire the right people to deal with your information security and technology and ensure staff have the information and tools they need to avoid becoming part of your cyber problems.
Have dedicated information security staff. Information security is a critical responsibility and needs to be prioritized”.
For more information on our Cyber policies see useful links.
Following feedback from our presentations on Cyber Crime prevention and Insurance, CMutual have collaborated with IT Governance to create a tailored Cyber Essentials package for Credit unions.
This very reasonably priced package allows you complete an online questionnaire, receive feedback and when you are ready to progress to perform a network penetration test on your Credit Union’s IT infrastructure. The results of the penetration test will assist you in pinpointing areas that may need attention and strengthening.
The questionnaire covers a broad domain addressing how your Credit Union manages your IT infrastructure through to some technical aspects of IT. A support component of around 30 minutes live consultancy is included.
We trust you will find this initiative both practical and useful in raising board and staff awareness of cyber crime with a view to enhancing your preparedness. Finally, once you’ve satisfactorily secured the environment, you can (on the same site and for no extra cost) obtain a formal, accredited certificate (valid for a year) which you can use to demonstrate to stakeholders and customers that you are cyber secure.
Use this link to get started http://www.itgovernance.co.uk/cuna-mutual.aspx