State Spotlight: North Dakota - Information Security is Top Priority

Interview with Tim Karsky, Commissioner, Dept. of Financial Institutions For institutions of all sizes, information security is a top priority at North Dakota banking institutions. But the smaller ones struggle to dedicate sufficient resources to the task, says Tim Karsky, Commissioner of the ND Dept. of Financial Institutions. In a discussion of his agency's top priorities, Karsky discusses: Ramifications of the Supreme Court's recent Cuomo v. ClearingHouse decision; Information security strengths and weaknesses of ND institutions; The focus for banking/security leaders heading into 2010. Karsky is a North Dakota native with an extensive background in the financial industry. He began his banking career with the Federal Deposit Insurance Corporation in January 1982, and joined the Department of Banking and Financial Institutions in the fall of 1986 as Chief Examiner. In 1989, Karsky was appointed Assistant Commissioner for the Department. He served in that capacity until 1997, when he moved into a new role as a loan officer for a Bismarck financial institution. Karsky returned to the Department as Assistant Commissioner in 1999, was appointed Commissioner in July, 2001, and is Chairman of the State Banking Board and State Credit Union Board, which oversees the state's state-chartered banks and credit unions. The Department of Financial Institutions also supervises consumer finance companies, money brokers, collection agencies, and deferred presentment providers.