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the Financial Ombudsman Service

what is “information risk” and what should we be doing about it? Christina Somovilla & Aynsley Taylor. established by the Financial Services and Markets Act 2000 funded by the financial services industry complaints about regulated financial services and products

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the Financial Ombudsman Service

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  1. what is “information risk” and what should we be doing about it?Christina Somovilla & Aynsley Taylor

  2. established by the Financial Services and Markets Act 2000 funded by the financial services industry complaints about regulated financial services and products can be brought by individuals and some small businesses we are now around ten times the size we were at the beginning started out in one building, we now occupy four the Financial Ombudsman Service

  3. the Financial Ombudsman Service

  4. the big issues • 41% of organizations are not confident that their electronic information is “accurate, accessible, and trustworthy” AIIM Research, 2013 • government and third sector lose £29bn a year through poor information management EDM group research, 2013

  5. In the public imagination

  6. defining “information risk” • understanding information as a key business asset • what value do we give it? • how does it compare to other business assets?

  7. what are the risks? • two types of loss • failing to exploit what we have • not understanding its value • not understanding its nature

  8. our website sharing directly with other organisations email publishing our decisions our case-handling system shared drives email intranet internal and external

  9. analogue and digital • old wine in new bottles? • applying methodology to all media and formats • changing expectations of staff and customers • opportunities from digitising content

  10. what we are doing There are 3 separate strands of work: • information security • information rights • information management…

  11. what we are doing: information management • Aims • Find information quickly and easily • Know what information we’ve got and where it is stored • Sharing information appropriately • Reduce the volumes of information we hold

  12. what we are doing: information management • Shared drive – what we had: • Unstructured information • Difficult to find information • Out of date • No ownership • Lots of duplication • Lots of personal data • Silos of information • No formal permission process

  13. what we are doing: information management • Shared drive – what we did • Audit • File plan • Retention schedules • Access control • Local records officers • Shared spaces • Awareness raising • Monitoring

  14. what we are doing: information management • Unfinished job! • Expansion = less control • Review of file plan • Surfacing “lost” information • More collaborative workspaces needed

  15. what we want to do “information risk management” • evaluate information • identify risks • consider likelihood • consider impact • appropriate and proportionate action

  16. what we want to do • information architecture • community of practice • join up with other projects and programmes • cultural change

  17. Q&A

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