• Technology Risk

    Technology risk in the financial services industry

Technology Risk

Technology is changing faster than ever before. Innovations such as e-money, mobile banking apps and high-frequency trading are commonplace now in an industry that still exists on the same principles as it has done for centuries.

Firms are under pressure to run in order to stand still, often resulting in large technology projects failing to deliver on time and to budget, and repeated systems failures. The expectations on technology are increasing, not only from employees and businesses, but customers and regulators.

BDO’s Financial Services Technology Risk team is comprised of knowledgeable and experienced specialists in every area of technology risk, from IT governance and strategy to IT change management, from information security to IT disaster recovery and data analysis. Team members hold relevant qualifications and have advised clients on many IT management disciplines.

Our services include:

Technology Risk Assurance and Advisory

  • Innovation Assurance – an independent view over IT changes, IT projects and IT programmes in line with business strategy and disruptive innovation.
  • Business Continuity – end-to-end support throughout a business continuity management programme, including assessing the suitability of plans, and development of plans from scratch
  • IT Internal Audit – we provide IT internal audit services to clients who do not have the specialist resource internally, this includes Sox 404 compliance.
  • Service Organisation Control Reports – an independent certificate, verifying the design and operating effectiveness of your controls under the following standards AAF 01/06, ISAE 3000 + 3402 and SSAE 16.

Data Analytics

  • Data Mining – using advanced data interrogation software to help with data management and getting true value from data.
  • Data Integrity– providing independent assurance that the information you require is available and accurate.
  • Data Privacy – assisting in understanding and assessing the appropriateness of data privacy policies and procedures.

Information Security

  • Information Security – a broad variety of specialist services to help you identify risks and assess your controls to safeguard and secure information.
  • Payment Card Industry Data Security Standard – BDO is a QSA company offering a range of services to help clients with their compliance.