FinTech Magazine July 2024 | Page 246

CAAT PENSION PLAN
only implementing advanced security technologies but also fostering a culture of security awareness within the organisation .
Achieving ISO certification has been a significant milestone in enhancing CAAT ’ s cybersecurity measures . Randy comments : “ In my team , the responsibility or accountability as we ’ ve grown and lived through this growth trajectory has been to work diligently to handle our data properly .”
He adds : “ This includes maturing our key practices , investing and improving our technology enablement , cybersecurity , posturing , adding advanced or enhanced services for our employers and members to use .”
According to a study by the International Organization for Standardization ( ISO ), organisations with ISO 27001 certification experience 50 % fewer cybersecurity incidents on average compared to non-certified counterparts . “ We ’ re very cautiously monitoring cyber risks , as the threats are constantly evolving . The vulnerabilities that emerge are increasingly sophisticated , and some of these bad actors are incredibly adept at finding new
ways to exploit weaknesses . It ’ s a continuous game of cat and mouse ; the better we get at defending our systems , the more sophisticated their attacks become .
“ We remain vigilant and proactive , ensuring our defences are continuously updated to protect our members ’ data and our organisation ’ s integrity .”
Outlook for the future : Growth and innovation Looking ahead , CAAT ’ s strategic focus is on membership growth through