The Field Of Banking And Finance

934 WordsMay 27, 20164 Pages
The field of Banking and finance is still developing and not every organizations are yet organized to deal with IT risk in an integrated way nor do all of them face the same levels of IT risk and or share similar risk side view. It is different to one another however, is compelling those are facing rising incident rates in the areas of security, availability, performance and compliance with noteworthy impact on revenue, reputation, productivity, and cost. (ISIT Risk Management in Banking Industry, 2011) Every organizations should try to manage IT risks effectively in that the challenge are understanding of their portfolio view of IT risks, quantify and prioritize them against the its risk profile and develop an effective program of remediation activities using five step process that can help them to assess their levels of IT risk, develop remediate roadmaps and ultimately build effective, continuous IT risk Management Programs. (Champy, 2005) (Hughes G. , 2007) (ISIT Risk Management in Banking Industry, 2011) Step: 1 Develop awareness of IT risks It begins with comprehensive discovery: · beginning the program’s scope · making of risk profile for organization based on overall priorities · recognizing key areas of information technology risk For many companies, the challenge of discovery are both recognizing new areas of risk and calculation against best IT practices and organizing hundreds of IT risks of which they are already intensely aware. A question now that how do I
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