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Information technology risks in financial services
What board members need to know — and do
Boards’ risk-related responsibilities at financial services companies have intensified, with governance of Information Technology (IT) risk becoming increasingly critical. However, IT risk may be the one risk that the typical financial services board member may be least prepared to oversee.
IT risk-related challenges in financial services will grow in number and importance in the years ahead. This paper highlights select IT risks for boards of financial institutions to consider, and suggests strategies they can employ to better oversee them.