Technology and Vendor Risk Management Report
Recent outages highlight urgency for holistic technology risk and resilience management
August 2024
The recent global outage of Microsoft systems, affecting various sectors, including several financial institutions, due to the CrowdStrike software update has highlighted critical vulnerabilities and risks associated with technology and vendor management.
In August 2024, TABInsights conducted an online survey among selected financial institutions in Asia on managing these technology risks and the lessons learned from this incident. Survey results are based on a complete response set of 10 first tier financial institutions.
Delivery:
The report is directly delivered into your account provided soon after online payment is received. The file contains one pdf document with 9 ppt content slides.
The report includes:
1. Executive summary and introduction
2. Challenges in technology risk and resilience
3. Emerging strategies in technology risk management
4. Key learnings
- 1. Major outages by some leading technology companies in last few years
- 2. How is this CrowdStrike - Microsoft incident influencing FIs’ future IT risk management strategies
- 3. Key challenges in managing IT and vendor risk management
- 4. Key challenges in managing technology resiliency
- 5. Decision management on IT and vendor risk management processes in Fis
- 6. Addressing IT system and vendor risk
- 7. Emerging strategies and learning points by FIs
- Chief Information Officers (CIOs) and Chief Risk Officers (CROs) responsible for technology infrastructure and risk management in financial institutions.
- IT Directors and Risk Management Teams seeking to strengthen their organisation’s resilience and vendor management strategies.
- Regulators and Policymakers in the financial sector looking to understand the latest challenges and strategies in technology risk management.
- Senior Executives in financial institutions who are involved in decision-making related to IT risk, vendor oversight, and business continuity planning.
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