Pub. 6 2016-2017 Issue 2

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S September • October 2016 19 from their professional. Additionally, this prevents the pass- wordmanager, with the keys to your organization, frombeing accessed from a personal device with little or no controls in place. Employees should clearly understand that this password vault is a company resource not a personal one. Separation of accounts also alleviates the work involved when employees leave. It is difficult to maintain an inventory of ev- ery account your employees accessed over their employment term. Access to their password manager assists in resetting critical credentials that may have otherwise been overlooked. Employees who use passwordmanagers should have theirmas- ter passwords on file securely. If storing the master password makes them uneasy then accounts should be tied directly to their employee email. After a termination, their master pass- word should be reset via the manager’s password recovery option immediately. Password managers are incredibly useful tools that make our login burdensmuch easier. We are blessedwith randomized 20 character passwords that we no longer must remember. How- ever, it feels like we are damming a river. Placing the massive potential of all those credentials behind one master password and the trust in our third party vendor. So, investigate who is using thesemanagers and identify any policies or controls that need to be put in place. If you find that a significant number of your employees are using these or similar services then enterprise options should be explored. Many of the risks ad- dressed in this brief review are addressed by enterprise level password managers.  America’s Premier Community Banking School University of Colorado | Boulder, Colorado www.GSBColorado.org Now accepting applications for these upcoming programs: Executive Development Institute for Community Banks April 23-26, 2017 67th Annual School Session July 16-28, 2017 Knowledge | Networking | Success