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Discovery – The Next Generation!: Business Context of Risk Presentation to the

Discovery – The Next Generation!: Business Context of Risk Presentation to the North London Branch British Computer Society 19 March, 2008 Dr. Victoria Lemieux Credit Suisse IT Risk. About Credit Suisse. Credit Suisse is a leading global bank headquartered in Zurich

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Discovery – The Next Generation!: Business Context of Risk Presentation to the

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  1. Discovery – The Next Generation!: Business Context of Risk Presentation to the North London Branch British Computer Society 19 March, 2008 Dr. Victoria Lemieux Credit Suisse IT Risk

  2. About Credit Suisse • Credit Suisse is a leading global bank headquartered in Zurich • Credit Suisse Group reported income from continuing operations of CHF 8,549 million for the full year 2007 • It is focussed on serving its clients in three business lines: investment banking, private banking and asset management • Total staff worldwide is 45,000 • Credit Suisse operates in approximately 50 countries globally

  3. About IT Risk

  4. Federal Information Security Management Act Data Protection Act Bank for International Settlements (Basel II) Japanese Financial Services Agency EBK/ Swiss BankingSecrecy GrammLeachBliley California SB1386 Patriot Act Financial Services Authority Monetary Authority of Singapore Sarbanes Oxley Federal Financial Institution Examiners Council International Standards Organisation The Legal and Regulatory Landscape

  5. A Balanced Risk View • Drivers / Business Benefit • Reduced legal and regulatory risk exposure • Reduced costs for retrieval

  6. A Balanced Risk View • Drivers / Business Benefit • Reduced legal and regulatory risk exposure • Reduced costs for retrieval • £50,000 x ? Cases = millions • Avoidance of regulatory fines • Avoidance of adverse legal rulings • Avoidance of reputational damage • Barriers to realising business benefits • Poor organisation of doocuments • Lack of governance • Lack of context • Introduction of new risks • Cross border data access • Data confidentiality • Intellectual Property protection • Downside Risks

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