To manage these risks discussed in this lecture, many U.S banks simply deploy their considerable I.T. expertise on patching holes, maintaining systems, and meeting regulations. Some have set up specialized teams to cope with particularly acute problems like cybersecurity. But these half-measures are unlikely to afford sufficient protection.
Discuss three (3) realistic risk principles that I.T. banking teams can use to mitigate risk while still performing transformation and remediation activities.
For each of the following types of risk, discuss one possible example U.S banks can implement
Deterrent
Preventive
Detective
Corrective
Compensating
Technical
Administrative