IT Governance Institute Releases New Business Risk Guidance

26 November 2007

Identifying and measuring operational risk are formidable challenges for banks and financial services organizations. To help organizations meet these challenges, the nonprofit, independent IT Governance Institute (ITGI) has released new guidance titled IT Control Objectives for Basel II.

Developed by experts from a wide range of financial services organizations, IT Control Objectives for Basel II provides unambiguous guidance to operational and information risk managers, IT practitioners, and financial services experts regarding operational and information risk management and its application to the Basel II framework.

Additionally, the ITGI publication:
• Highlights steps toward convergence. While financial services and the financial system are recognized as highly critical in a global economy, information risk management and IT controls have also become essential aspects of corporate governance. IT Control Objectives for Basel II provides guidance on how these worlds can be merged into a seamless model, to ensure effective governance over the financial system.
• Maps Basel II principles for operational risk against IT risk
• Highlights the need for operational and information risk management and IT controls from the perspective of bankers and financial experts
• Provides a framework for managing information risk in the context of Basel II. By applying this framework, financial service organizations are able to apply recognized practices and controls to their IT environment.

The publication is available in PDF form and is alsp available in print from the ISACA Bookstore

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