16Dec2011
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SOA Blog
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Risk
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Risk Management Links for the Week of December 12

The holidays are right around the corner, but risk management news does not seem to be taking a break. Here are the best risk management links for the week of December 12, 2011:

  • A recent report from Britain’s Financial Services Authority (FSA) addresses the causes of and lessons learned from the demise of the Royal Bank of Scotland (RBS). The report brings to light many vulnerabilities related to the governance processes of the bank. Senior management apparently vigorously pushed back against FSA policies which limit the threshold for risk. The report concludes regulators were too lenient and should have done more to address concerns and ensure proper governance procedures were in place at RBS. (Source: Bloomberg)
  • Beginning in June 2012, the White House will enact the Federal Risk and Authorization Management Program (FedRAMP), which establishes a baseline of security requirements for all government contractors interested in providing the federal government with cloud services with the goals to improve the security of its IT systems in a time and cost efficient manner. A program more than two years in the making, Federal CIO Steven VanRoekel says it is a “first step” toward securing cloud environments. It will assess and monitor providers to ensure a minimum level of security prior to receiving the green light to begin work with the government and will be overseen by a board of officials from the Department of Defense, Homeland Security and the General Services Administration.  (Source: eWeek)
  • Gartner released an analyst report warning CIOs of the need for assessing the impacts of the eurozone crisis on their businesses.  Gartner vice president and distinguished analyst Andrea Di Maio flagged market volatility, capital costs, human capital management and risk management as potential challenges for any company doing business in or with the eurozone. To manage the market volatility, analysts are urging a radical restructuring of business practices. Di Maio noted that from an IT management standpoint, change management capabilities are critical.  (Source: IT PRO)
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