Sox Iso 27001 Mapping Program

Kilauea Mount Etna Mount Yasur Mount Nyiragongo and Nyamuragira Piton de la Fournaise Erta Ale. Our FDA and Regulatory compliance program enables you to get your products to market quickly and to maintain your compliance status. We are an Exemplar Certified. On completion of the course, delegates will be able to Understand the main drivers forcing companies to look into Governance, Risk management, Compliance and. Online Sample Chapter Network Security Auditing Tools and Techniques Sample Pages. Download the sample pages. Risks in Core Banking Migration. Summary. This article highlights some of the key risks in executing a successful core banking migration program. Draw from a host of information from our webinars on Governance, Risk, Regulatory Compliance and Audit across industries. Register for upcoming webinars or visit the. Splunk Partners Find a partner, or learn about becoming a Splunk partner. InformationWeek. com News, analysis and research for business technology professionals, plus peertopeer knowledge sharing. Engage with our community. Many of these risk elements also relate to any large IT project, but are more aligned towards a core banking migration. Key Risks. A core banking migration project is typically one that involves hundreds of millions of dollars of investment, along with serious levels of commitment from Business and IT. Such a large investment of time and money requires proper risk management and strong governance to ensure that all stakeholders realize the responsibilities they hold and work single mindedly to fulfil them. At the same time, business as usual needs to be addressed, as well as customer impact should be absolutely minimized. Sox Iso 27001 Mapping Program' title='Sox Iso 27001 Mapping Program' />The following is a listing of the key risks based on our experience of working with Banks engaged in large scale programs such as core banking implementation. Outlook 2007 Free Download Vista. Program Management. Core banking implementation projects are not just about project management, but rather about program management. A program is a collection of multiple projects each of which have their own timelines, dependencies, RACI matrices, deliverables, and milestones. Many banks are not geared up to handle a Program of this size, complexity, and duration. The fact that multiple projects would be involved, and each of these projects would impact others in some way or the other is quite often a rude awakening that comes somewhere during the business analysis phase. Just as an example, some of the key projects streams that would need to run are Business Requirements Gathering these would have multiple stages including demonstration of the Model Bank by the vendor, business requirements gathering, functional specifications preparation, etc. Data Migration which would involve Data Quality Analysis, Data Clean up, Data Mapping, and Data MigrationInterface Development for existing and new applications to interface with the new system, as well as implementation of the Enterprise Service Bus, if the Bank is adopting SOA Service Oriented Architecture2Module Development no matter how much you wish, there will be customization involved, and this has to be overseen properly by the Bank. UAT quite often you will want to do this jointly with an outsourced entity. Business as usual impact management more on this in a later section. IT operations readiness this covers the readiness of infrastructure servers, storage, network, processes backup, operations, monitoring, troubleshooting, and IT teams organizational structure to handle program specific responsibilitiesBusiness operations readiness this would cover the branches, learning and personnel development, and other business units which would be impacted by the implementation. Rollout the rollout strategy would need to be decided early on as it impacts the entire program in multiple ways. More on this later. Program Governance. Once you realize the enormity of the task, a proper governance structure needs to be implemented. Some Banks choose to outsource the Program Management office completely. Either ways, this has to be with senior banking personnel embedded into the program governance structure. Em Client 6 License Key. An outsourced vendor would bring in expertise in the areas of project management, risk management, change management, vendor management, and driving the program forward. Formal manuals may have to be prepared, which clearly spell out the governance structure, along with roles and responsibilities for all key stakeholders, and also define the processes for critical project management practices such as risk, issue, change, and communication management. Business Commitment. With ongoing pressures of business as usual, the business teams may not be fully committed to a program of this scale and complexity. This has multiple impacts right from product selection, scope definition, requirements gathering, UAT, etc. Without the right level of business personnel involvement, the quality of inputs received by the program would suffer. This often results in repeated iterations of deliverables such as the Business Specification Documents BSDs and Functional Specifications Documents FSDs, etc. Also, it may result in a sub standard product being delivered to the organization. Vendor Management. The transformation program will typically involve multiple vendors Core Banking Solution Provider, Project Management, Testing, Data Migration, etc. Each of these vendors will bring to the table their own expertise, but also their own challenges in terms of experience and expertise. The Bank should institute a dedicated vendor management function part of the Program management team, which deals with vendors on an equal footing and does not get intimidated by their claims of boiler plate contracts. Legal team should be heavily involved in ensuring the contract is fair, but more tilted in the Banks favor than the vendors favor. Vendors should be committed to provide named personnel, who are available throughout the execution of key project milestones and are based in UAE. No vendor should be allowed to execute a typical bait and switch strategy when it comes to project resources. It is also recommended that the Bank should evaluate the role of System Integrator to be played by a specialist vendor and not leave this role to be done by the main solution provider who are experts in the Core Banking system, but may not be able to deliver on the overall aspects of implementing the solution within the Banks existing environment. They Walk Among Us Game on this page. Scope Management. The scoping exercise prior to contract finalization is one of the most important stages. Key stakeholders from all the Banks impacted departments should play a role in this. The program team should also institute a challenging mechanism to avoid over customization of the Core Banking CB solution. The requirements gathering team should be encouraged to push people to accept the systems way of doing things rather than super imposing outdated processes onto a state of the art solution. Notes should be exchanged with other banks in the region that have implemented the same solution and challenges that they faced. Ensuring Quick Wins. A program such as this often leads to elongated project milestones and this can demotivate the team members as well as raise doubts in the minds of the Board members as to whether this investment is really going to yield any results or not. The transformation program team should ensure quick wins are adequately introduced throughout the project delivery schedule and these are well recognized throughout the Bank. Financial Control. Programs such as these have a tendency to quickly escalate in terms of budgeted costs. It is extremely important that the Bank institute a dedicated financial control function for the transformation program that tracks capital and operational expenditure on a weekly basis, as well as ensures that payments are made on time in order not to demotivate vendors, as well as payments are made only when the deliverables are up to the mark and delivered on time. This aspect may further be enhanced by keeping a bonus component for on time or before time delivery of key milestones. Cost escalations should also be properly risk managed through the bid negotiation and contractual stages itself. People Management. A core banking transformation project can only succeed when all stakeholders are fully committed to it.