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It Risk Management

It Risk Management

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Published by Sonu Verma

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Published by: Sonu Verma on Sep 18, 2013
Copyright:Attribution Non-commercial


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Managing Information Technology Risk
 A Global Survey or the Financial Services Industry
 About Ernst & Young Financial Services
Ernst & Young is a global leader in providing assurance, tax, transaction, and advisory services to the asset management, banking and capital markets, and insurance sectors within the fnancial services industry. Ernst & Young is the only public accounting frm with separate business units dedicated to the fnancial services marketplace. Ernst & Young hasmore than 20,000 proessionals dedicated to serving the needs o our fnancial services clients worldwide. Our Global Asset Management Center, Global Banking & Capital Markets Center, and Global Insurance Center act as three distinct hubs o networks o experienced fnancial services proessionals who are dedicated to their respective industry sectors.Each Center connects our teams around the globe who share inormation on current and emerging trends and regulations in order to help clients address key issues.
Ernst & Young reers to the global organization o member frms o Ernst & Young GlobalLimited, each o which is a separate legal entity. Ernst & Young Global Limited, a UK companylimited by guarantee, does not provide services to clients.
 About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction, and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a dierence by helping our people, our clients, and our wider communities achieve potential.For more inormation, please visit www.ey.com.
Welcome to Ernst & Young’s inaugural global survey or the fnancial services industry
 —Managing  Information Technology Risk 
. This survey was conducted by the Economist Intelligence Unit, aleading, global, independent research organization, on behal o Ernst & Young, across a number o leading global fnancial services institutions. Ernst & Young conducted the analysis and wrotethe report, which presents the responses o senior executives at more than 100 o these institutions.The questions we asked were designed to ocus their attention on the ramework, processes, and drivers o inormation technology risk management (ITRM), in particular, their impact on decision-making and the role inormation technology risk management plays in an organization’s overall risk management processes and posture. The survey results spotlight fve key topics: program maturity and eectiveness; convergence; inormation technology risk management processes; tools and technology;and reporting and metrics.This report provides industry data, trends, leading practices, and Ernst & Young’s inormed pointo view on the components o an eective inormation technology risk management methodology,ramework, and process. It is our intentthat organizations use this inormation toevaluate thoughtullytheir own internal processes in light o thesefndings and identiy areasor improvement in the coming year.The year 2008 promises to be one o continued change or the fnancial servicesindustry. As global institutions seek tolink Enterprise Risk Management (ERM),Operational Risk Management (ORM), and audit and compliance unctions, inormation technologyrisk management will play a critical role. Ernst & Young believes that while direct, bottom-line costsavings can be signifcant, it is the top-line benefts that result rom actionable risk reporting, morestrategic investments, and enhanced organizational perormance that will be signifcantly morevaluable over the long term to the individual organization and the fnancial services industry as awhole. We expect regulatory bodies around the globe to ocus on the inormation technology risk management unctions o fnancial services institutions as governance and compliance continue to bestrictly enorced. Those organizations whose internal processes lack defnition may fnd themselvesunder the regulators’ watchul eyes.The results o Ernst & Young’s
 Managing Information Technology Risk — A Global Survey for the Financial Services Industry
are available to our clients and riends. We welcome the opportunity tomeet with you to discuss the survey fndings as well as any aspect o your inormation technologyrisk management program. For urther inormation on inormation technology risk management or Ernst & Young’s approach to a variety o business issues, please contact your local Ernst & Youngofce. In addition, we invite you to visit www.ey.com.We would very much like to thank all o the respondents to our survey or their time and insights.
The results o this survey represent fndingsrom 145 senior inormation technology andrisk executives rom 100+ diversifed fnan-cial services institutions in six major regions around the globe.

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