Technology Risk in Financial Services
Technology is the beating heart of most financial services companies and products. Technology has revolutionised the sector but it has not changed the fundamental need for security and reliability. Our clients understand that technology brings with it inherent risks both to their customers and to their companies. We work with them to assess, prioritise and manage those risks.
We have helped our clients with the following challenges;
- IT governance and strategy
- IT change management
- Information security
- IT disaster recovery
- Data analysis.
Our Financial Services technology risk services include:
Technology Risk Assurance and Advisory
We provide a range of IT audit, assurance and certification services to our clients. We help and advise the on major IT projects and programmes to ensure alignment with business strategy develop and business continuity plans, audit internal systems including Sox 404 compliance. We also verify and certify effectiveness of controls under the following;
- AAF 01/06
- ISAE 3000
- SSAE 16
Data Analysis and Management for Financial Services
Our clients understand the need to maximise the value of data as well as protect it effectively. We advise on data privacy policies and procedures to ensure compliance with legislation. We provide assistance with data integrity to ensure that our clients’ data is accurate and available. Finally, we work with our clients on data management and help get the most added value from their data.
- Information Security – establishing 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.
Network Domain Security Review
It has become common for news stories about external cyber-attacks to make the front pages and it is right for companies to address that. The potential damage is huge. Perhaps less newsworthy but just as potentially damaging are the data thefts and malicious uses that are possible because the configuration of internal networks. You can mitigate those risks by adopting an appropriate framework and methodology to network configuration.
The BDO Network Domain Security Review will;
- Ensure you are adopting best practice for cyber security and compliance with legislation
- Deliver a report with actionable recommendations
- Require no installation on your network
- Will make no changes to your network
Check out our latest insights below.
Non-Executive Director Programme:
Being a non-executive director (NED) is tremendously rewarding. Nonetheless, regulatory requirements and the pace of change make the role challenging. Media attention on executive pay, shareholder activism and governance issues mean the role is also becoming more high profile.
We invite you to join BDO’s NED community, which includes a dedicated Financial Services sub-group. Being a part of this community will allow you to meet other NEDs, learn about technical and industry matters, and increase your effectiveness and influence on Boards. Our Financial Services NED community who join us from banks and alternative lenders, asset managers, insurers and capital markets firms will meet regularly. The group will enjoy unique private dining experiences and explore what’s important to you.
Please join us for our first Financial Services NED dinner on Tuesday 5 March to discuss accountability and reputation – yours and your firm’s. Click here for more.