Essay: IT Risk Management Function

Sample Essay

In relation to this, one of the assumptions in this proposal that the researcher intends to test out “if a global financial institution possesses an appropriate and effective organizational structure, then the adoption and implementation of the IT Risk Management function will be effective as well”.

This is also to validate the claims of Ernst & Young (2008) with regard to the factors define the success for an effective IT risk management implementation which include 1) Direction of leadership and support from the management, 2) Accountability and authority of the management, 3) Vision and strategy, 4) Compliance with the corporate culture, 5) Consistent risk assessment, 6) Risk management system with tools and technology support, and 7) Results that are measurable. This study will also validate whether or not the claims of E& Y for an effective and appropriate organizational structure is importantly needed in order to successfully implement the IT risk management function in a financial institution.

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