Technology risk update: Financial Services

09 Mar 2020

Technology risk update: Financial Services

In a world where technological developments are happening at an exponential pace, the Technology Risk function is changing rapidly too.

In our market leading international research on technology risk, we identified a number of elements which we believe you need to consider when assessing the effectiveness of the Technology Risk function. One of the most important elements is the need to move from a tactical / operational perspective to a more strategic one which supports decision making at Executive and Non-Executive Board level.  

Technology Risk

Managing technology risk is essential for achieving the strategic objectives of any financial institution. In the past, technology was an enabler and technology risk was focused on preventing business disruptions or service outages. Nowadays, we see technology as a driver of strategic growth in, amongst others, customer experience and creating agile organisations.

Technology risk is therefore changing from a checking and mitigating function to one that supports balanced decision making on strategic topics at Executive and Non-Executive Board level. Through our international research, we have identified the five topics that provide further insight into how the role of the Technology Risk Officer is changing.

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Technology risk update: Financial Services

The leadership profile of successful Technology Risk Managers is evolving. Download the report to find out more.

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