Governance has also become a key reason credit unions turn to vISOs. Managing compliance, reporting and documentation can be overwhelming, and vISOs help alleviate that burden. They ensure security programs are effective, track risks and provide the necessary documentation for investigations in the event of an incident. Board members and executives rely on vISOs to establish clear roles and responsibilities – something often lacking in governance structures. This clarity helps credit unions allocate their finite resources more effectively, identifying gaps and mitigating risks before they escalate.

Governance has always been a part of how credit unions operate, but it has become a bigger priority in response to high-profile breaches and upcoming regulations. In some cases, excessive employee access has given malicious actors an entry point. Recent updates to the National Institute of Standards and Technologies (NIST) framework have also reinforced the need for stronger controls in financial institutions. The updates bring a big focus on governance, meaning that organizations should have clear rules and systems to make sure they are accountable, transparent and managing risks effectively. Financial institutions are encouraged to adopt comprehensive plans that align with their goals, improve oversight by their boards of directors and include risk management in their overall strategy. This change highlights the importance of proactive governance in keeping financial institutions strong and trustworthy as regulations evolve.

As security challenges grow, so does the need for experienced leadership. Whether filling talent gaps, providing strategic insight or strengthening governance, vISOs continue to play a critical role in helping credit unions navigate an increasingly complex threat landscape.

Looking ahead, the role of vISOs is only expected to grow. As credit unions recognize the need for a more integrated approach to security, there’s a shift toward bringing together information security risk management with broader governance practices, like business continuity planning, policy management and third-party risk management. Many institutions still take a siloed approach, but that’s changing. The demand for vISOs is increasing as credit unions understand the need for a more comprehensive approach – one that not only strengthens cybersecurity but also ensures operational resilience.

This shift is being driven by an evolving threat landscape, where risks now extend beyond traditional cyberattacks. Institutions need to be ready for disruptions caused by sophisticated threat actors, geopolitical tensions and even societal events that bad actors can exploit. vISOs will be key in helping credit unions anticipate these threats and develop contingency strategies to keep operations running when incidents occur. As security and governance become more interconnected, vISOs will provide essential guidance, ensuring that credit unions embracing this integrated approach are better prepared for the next era of risk.