Sample Essay

Basically the security function of the “IT risk management function” will be in charge of battling against malicious and accidental internal and external threats. The focus of the compliance function will be on the IT policy and external regulations while the availability function will be focusing on the natural disasters & systems failure and finally, the performance function will be focusing on the application performance & IT performance.

In the creation of an “IT risk management function”, the basic pre-requisite is the organization’s design and construct. The existing organizational design or construct of a financial or business institution is basically influenced by several factors: 1) its current business practices, 2) its products and services, 3) its culture and ethnic, 4) the company’s regulatory constraints, and 5) the company’s managerial jurisdiction.

Realistically, what happens is that in most financial institutions or business, it is the organizational construct or basic structure which hinders the effective creation of the IT risk management function. As it turns out, however, most of these financial institutions also possess a difficulty in creating an effective organizational construct due to the various challenges they encounter from the company’s current business practices, products and services, culture and ethnic, the company’s regulatory constraints and the company’s managerial jurisdiction.

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