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Navigating the journey

Financial Services: Heads of IT Risk Survey 2013

Navigating the journeyThe financial services industry continues to feel the pressure. Sustained regulatory attention, a sharper focus on shareholder value and customer service, coupled with an ever more competitive and closely scrutinised market are paving the way for much needed transformational change. Information technology has emerged as a key enabler to deliver this change, yet the resulting risks posed to organisations are on the rise.

Our survey, Navigating the journey, brings together insights from IT Risk functions from twenty of the largest global financial services institutions. Speaking with those responsible for setting the IT Risk agenda allowed us to get an inside view into the challenges facing IT Risk in the financial services industry as it navigates its way through testing times.

What’s inside?

Since 2011, the top five IT risks have remained the same, indicating that the traditional risks, such as ‘third party’, ‘data loss’ and ‘business continuity’ are still at the top of the agenda. Key findings from the survey include:

  • 45% believe that heightened regulatory focus is the most significant challenge in meeting IT Risk objectives;
  • 85% are unable to produce data-driven MI, despite a significant number of IT Risk functions now reporting directly to the board; and
  • 30% identified a lack of skilled resources in the market as a top challenge in meeting their objectives.

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Download Navigating the journey | Financial Services: Heads of IT Risk Survey 2013 (PDF)

Key contacts

  • Chris Recchia
    Partner, Financial Services
    +44 (0) 207 007 5159
  • Tom Bigham
    Technology Risk Management
    +44 (0) 7917 084327

Related insights

  • 2011 Financial Services Heads of IT Risk Survey
    As IT Risk functions emerge, evolve and mature, what are the common practices?
  • IT risks and security challenges
    A series of Deloitte perspectives as published in the Wall Street Journal.
  • Planning ahead
    Hot topics for FS organisations in IT Internal Audit.

Useful links

  • IT Risk Management
    See the bigger picture.
  • Financial Services publications
    Read our latest insights on the FS industry.

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