Essay: IT Risk Management Function

Sample Essay

Moreover, according to Buckley (1995), an adequate information & technology security program will help protect the organization’s information resources, its brand and reputation hence most global financial institutions pay importance to its role. Nevertheless, Agocs and Burr (1996) argue that the overall strategy of the financial institution needs to ensure that the information risk management will provide the maximum strategic benefits to the organization and will cater for continuous evolution.

On the other hand, the term “globalization” refers to the quantitative and qualitative expansions in the trans-border flow of activities and ideas (Wilson, 1998). Meanwhile, the term “globalization of IT” is often used to convey two indications which are the cross-border flow of information content and the cross-border spread of the actual hardware nationally and locally produced, distributed, and consumed (Steinbock, 2000). These two phenomena are known to be two of the most important factors which dictate the much needed changes in the organizational structure of an organization as well as the effective use of the IT risk management function.

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