Welcome to Federal Credit Fridays! The U.S. government is one of the largest lenders and credit guarantors on earth. Its portfolio is estimated at over $3.6 trillion, as measured by loan assets and the face value of loan guarantees. The government uses credit for a wide variety of policy missions, including housing, higher education, small businesses, rural and urban economic development, infrastructure, and export promotion, among others. This podcast will familiarize you with the vast world of federal credit, the similarities and differences between these programs, and the importance of their work to achieving policy missions within the framework of public-private collaboration.
In this episode of Federal Credit Fridays, Anthony Curcio resumes his conversation with Summit IT Manager Josh Baker about information security compliance. This session focuses on technical infrastructure, compliance requirements, and the management of large data sets.
Regarding infrastructure, security compliance, and implementation, Anthony explains that “decisions around architecture, cost, performance, and data movement become critical, especially when dealing with the scale and complexity of federal loan portfolios.” These considerations show that compliance can become more achievable, but it is not automatic.
Finishing today’s episode of Federal Credit Fridays, Anthony and Josh discuss how leveraging cloud services is a crucial step in managing federal credit data and meeting modern compliance expectations. “Cloud services have really changed how organizations are able to handle compliance requirements,” Josh explains, “especially when it comes to this concept of the shared responsibility model.” Cloud providers help manage portions of the technical infrastructure, while organizations remain responsible for their data, access controls, and compliance processes. Throughout this episode, Josh highlights the changes cloud services have undergone, including the move away from relying solely on server rooms, equipment, and in-house maintenance.
* Accessibility note: Click here for a text transcript of this conversation.