Cloud-Centric Data Management Services
OCC needs to share data seamlessly with the Federal Deposit Insurance Corp., Federal Reserve and the banks it supervises. Cloud “will make this whole process more efficient for us,” Baldwin said. “We want to make sure that we have this information available to them when they need it.”
Cloud-centric data management services are another key goal in OCC’s modernization efforts. With these capabilities, “we could access large data sets in hours, rather than waiting, in some cases, days to ingest our own copies,” Baldwin said.
OCC’s IT team will require thoughtful management to bring that to life. The team needs to make sure “that it’s going to perform as efficiently as we expect and then make sure we have the rollout plan that works for our bank supervision side,” Baldwin said.
Boosting Data Security with the Help of Third Parties
Of course, all of this must be done securely. “We have role-based access,” Baldwin said. “Our business partners are really helping us architect that in a way that it will be seamless to our user base.”
To ensure robust cybersecurity, “we also proactively engage third-party experts,” Baldwin said. With their help, “our cybersecurity posture has evolved to include much more sophisticated threat detection and response capabilities, as well as focus on more complete encryption and access controls,” she added.
In line with these efforts, OCC recently completed an independent assessment of its zero-trust adoption maturity. “We performed quite well on that assessment,” Baldwin said. “We’ll focus a bit more on refining our cloud security posture monitoring capabilities” in the future, she added.
Looking ahead, Baldwin said, “we’re taking a holistic, portfolio-based approach to our modernization.” She noted that a recent cloud readiness assessment has helped the office chart a path forward.
“We really haven’t come across applications here at OCC that we feel need to remain on-prem,” she said. The focus now is on leveraging SaaS to empower mission-critical applications in the cloud wherever possible. “We absolutely see cloud technology, in general, as an enabler for our mission delivery.”
