This Month's Publication
Newsletter #36 - April 2012
Know Your IT Risks
Carrying Out a Successful IT Risk Assessment
The fact that technology is an integral part of our lives is incontestable in this day and age. One of the most salient examples of this can be found in the financial arena, where cutting-edge systems and platforms serve as a key source behind revenue generation and operational support areas. Without the IT tools, solutions and infrastructure to support complex and rapid trading activities, bank competitiveness would lag in today’s tech-driven marketplace.
Consequently, the identification and remediation of risks to the IT environment and security policy are fundamental aspects of a financial institution’s risk management program. Conducting an IT Risk Assessment is an important part of this program, allowing management to understand areas of vulnerability while also demonstrating awareness and preparedness to regulators. In this month’s newsletter, we outline essential features of such an assessment and highlight some areas receiving recent attention from examiners.
We hope you find this article informative, and appreciate your feedback!
Daniel H. Connor
Chief Executive Officer
