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June 2007
Practitioners and Regulators See New Paradigms in Technology Risk Management
Experts Discuss Latest Issues and Trends at PRMIA Frontiers in Technology Forum
June 14, 2007 – New York, NY – PRMIA New York’s June 12th “Frontiers in Technology Forum” underscored the complexities of risk management in the 21st century’s brave new world. According to James Tunkey, Regional Director of PRMIA’s New York Chapter, panelists forged a path toward new best practices in how organizations approach technology risk.
Mr. Tunkey, echoing the opinions of several speakers, acknowledged that there are real limits to what existing technology can deliver in the area of risk management if technologists are operating in a traditional, large corporate environment.
Recurring themes of the day included reusability – leveraging technology investments across the enterprise; breaking down barriers to efficient information sharing and data integration.
One executive discussed the need to view risk management through a “business driver” lens focused on the risk/reward ratio: how technology can drive business growth, how it can improve use of economic capital, and how it can help to “do the right thing” in areas that affect customers, such as privacy.
Given the increasing complexity of the operating environment, another panelist emphasized the need to ensure that capital and human investments in technology and related matters are commensurate with the business value created.
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