IT Risk Is Not About IT – It’s About the Business

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When an organization has a vision for a collaborative risk management program – integrated where it needs be, yet federated to accommodate unique approaches when it comes to identifying and analyzing risk, the payoff can be enormous in terms of both loss avoidance and agility to pursue new opportunities. Establishing the right foundation by building common objectives with key stakeholders will help IT risk teams strike the right balance that supports the maturity, readiness and strategic intent of the business. It takes a series of successes to create the contagion - the groundswell of support - to have leadership recognize that this collaboration between risk teams requires strategic investment, interlock and infrastructure.

In conclusion: Be an advocate for your organization’s success. Eventually, as IT and business risk management teams build a successful partnership, risk management will be driven into the operational fabric of the organization, and will become the lifeblood of superior performance.

Information technology risk teams know well that the scope of IT risks can be very broad – ranging from technical security risk, to IT operations risk, through to operational risk and enterprise risk. IT risk teams typically have deep skills in risk identification and analysis of information technology components, and many are also quite skilled in making recommendations on risk treatment options. But their scope and point of view is typically limited to technology applications and infrastructure. As the enterprise becomes increasingly complex, and extends out with deep interlocks to customer and supplier eco-systems, IT risk teams' core competencies need to evolve.

When IT risk teams are effective, they’ve formed partnerships with other risk stakeholders across the organization – business leaders, the chief risk officer, internal audit, information and physical security teams, business resilience groups and vendor management. They understand how IT is linked up the stack to the business, press to get risk appetites defined, and are able to translate risk appetite into acceptable thresholds that IT operational teams can work with. 

Here are four critical core capabilities, identified by Yo Delmar, vice president of GRC solutions at MetricStream, that IT risk teams need to develop in order to be truly effective in working with the business.  


Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

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