FCA

Holding People Accountable: Thoughts on the FCA Discussion Paper

In July the Bank of England and the Financial Conduct Authority (FCA) jointly released a discussion paper on operational resilience. The paper highlighted the risks posed by cyber attacks and other disruptive operational incidents, and the financial system’s increasing reliance on technology and data. The paper urges firms to focus on how their response to…

Disaster recovery

5 Common Disaster Recovery Mistakes

Disaster recovery is becoming increasingly complex in the face of new challenges and threats, including terror threats, data breaches, supply chain risk, extreme weather events and political factors such as Brexit. There are internal factors influencing this, too. Organisations are becoming increasingly vulnerable to change and uncertainty as they become more complex, virtual and interdependent,…

Digital Transformation Journey

5 Tips for Digital Transformation Journey Success

What do we mean by digital transformation? It can be described as “the profound transformation of business and organisational activities, processes, competencies and models to fully leverage… a mix of digital technologies and their accelerating impact… in a strategic and prioritised way, with present and future shifts in mind.” This suggests two important things about…

outage

“Too Big To Fail” – Why Do Big Banks Still Suffer Major IT Outages?

In the age of DevOps, Agile and continuous integration, major outages should be a thing of the past. If everything is automated and continually delivering, how can anything go catastrophically wrong? The truth is that most major organisations are nowhere near this DevOps utopia and still carry out major upgrades and migrations which heavily rely…

change implementation

“Change Implementation: Avoiding the Tragedy of the Commons” – Thoughts from Cutover CEO Ky

Organisations have struggled for a long time over the asymmetry of risk when implementing change. Even when contributing to a single goal, multiple parties coming together to enact a change will bring with them different and often conflicting agendas. For example, when those making the change have no control over how it operates and those…

embrace innovation

Banks Must Embrace Innovation to Reduce Risk

In the ‘third wave’ of Fintech, financial services are working more closely with fintechs and using them to outsource parts of their value chain, such as payments. Although this collaboration can be hugely beneficial for banks and their customers, it does raise the question of how security will be affected. The risk associated with cyber…

operational risk

Tackling Operational Risk When Performing Surgery on Critical IT Systems

Have you ever wondered why IT outages result from making changes to critical IT systems? Why CEOs of major institutions are regularly on the news apologising? It’s not due to these institutions lacking capable people or not taking things seriously, it’s due to the fact that the act of making a change to a critical IT system…