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Risk
04/15/2015

Making the Right Investment in Cybersecurity

In a January interview with Bloomberg, Brian Moynihan revealed that Bank of America Corp. has an unlimited budget for cybersecurity. “I go to bed every night feeling comfortable that group has all the money, because they never have to ask,” said the Bank of America chairman and chief executive officer. “You’ve got to be willing to do what it takes at this point.” The vast majority of banks can’t grant carte blanche to their organization’s information security team. Bank Director’s 2015 Risk Practices Survey found that most banks, at 60 percent, dedicated less than 1 percent of revenues to cybersecurity…

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WRITTEN BY

Emily McCormick

Vice President of Editorial & Research

Emily McCormick is Vice President of Editorial & Research for Bank Director. Emily oversees research projects, from in-depth reports to Bank Director’s annual surveys on M&A, risk, compensation, governance and technology. She also manages content for the Bank Services Program, including Bank Director’s Online Training Series. In addition to speaking and moderating discussions at Bank Director’s in-person and virtual events, Emily writes and edits for Bank Director magazine, BankDirector.com and Bank Director’s weekly newsletter, The Slant. She started her career in the circulation department at the Knoxville News-Sentinel and graduated summa cum laude from The University of Tennessee with a bachelor’s degree in Spanish and International Business.