Find White Papers
Home
About Us
List Your Papers
    
> Tideway Systems > Rogue IT: Compliance of IT in the Capital Markets

Rogue IT: Compliance of IT in the Capital Markets

White Paper Published By: Tideway Systems

A world class IT organization needs to be better than even the regulators require – and good IT governance doesn't have to tie the IT department up in red tape. Judicious application of IT best practices, frameworks and methodologies can help achieve this, based on an accurate picture of the IT environment, at which point regulatory compliance becomes a happy side effect. Find out how you can have an up-to-date true view of your infrastructure on a daily basis – not just at a point in time by reading this white paper.



Tags : 
compliance, regulation, regulations, regulator, regulators, governance, compliant, infrastructure

Tideway Systems
Published:  Dec 11, 2007
Type:  White Paper
Length:  8 pages

ROGUE IT
COMPLIANCE
AND GOVERNANCE
OF IT IN THE
CAPITAL MARKETS
A Tideway white paper based on research performed by Expand Consulting on behalf of TidewayROGUE IT - COMPLIANCE AND GOVERNANCE
OF IT IN THE CAPITAL MARKETSA Tideway white paper based on research performed by Expand Consulting on behalf of Tideway
INTRODUCTION The main drivers for gaining a deep understanding of a bank's infrastructure are currently for cross charging services back to Lack of effective internal controls in the ? nancial sector has had the business or cost reduction programs, such as data centre catastrophic effects in the past - Nick Leeson, a high performing consolidation. Expand's research indicated that compliance trader, managed to bring down Barings - one of Britain's oldest requirements came below total cost of ownership (TCO) and cross-and most respected banks - by cleverly covering up trading losses, charging projects as drivers for capture of IT infrastructure data. until they reached an unsustainable £850M. Barings collapsed, and was subsequently purchased by ING for £1. Events like However, regulations now compel IT organizations to have a the Barings example have led to regulators demanding better much more detailed and real-time handle on the application, business governance across the ? nancial sector. As the Capital data base, hardware and network infrastructure layers or fabric, Markets are ever more reliant on IT systems, these regulations and the dependencies between them than ever before.apply as much to IT as the business. Most IT organisations at some point in time map out their To date, most IT compliance efforts have focused on the data - infrastructure and hold that system map in something like Visio the most obvious place to start. However, infrastructure failures and/or Excel. They may also create a database of the application have the capacity to take a bank out of the market for signi? cant structure or an inventory of assets, as well as using various periods of time, generating huge potential losses. The IT technology speci? c domain managers. Most ? rms researched blackouts that appear in the papers are only the tip of the iceberg by Expand have not gone as far as implementing something - as the agility required of the IT department is often achieved along the lines of the IT Infrastructure Library's con? guration at the cost of stability and many near-misses occur every day management database (CMDB) to capture the data, with only unreported. How long can it be before a catastrophic failure of a 20% of ? rms polled actively engaged in a CMDB project. This major bank occurs due to poor IT infrastructure governance? suggests it is still early days for company-wide IT con? guration management projects, in spite of compliance pressures.A world class IT organisation needs to be better than even the regulators require - and good IT governance doesn't have to tie Any attempt to capture the infrastructure fabric and the IT department up in red tape. Judicious application of IT superstructure dependencies usually occurs to support a best practices, frameworks and methodologies can help achieve particular project, such as the implementation of a new front this, if based on an accurate picture of the IT environment, at of? ce trading system or a new intra-day risk reporting process which point regulatory compliance becomes a happy side effect. that might require a grid or compute farm. However the data captured in these exercises, which typically take a minimum of The following research ? ndings were the result of a survey of 3 months, whilst useful, is only a snap-shot in time. This is not the top ten global investment banks conducted by Expand only costly in terms of either external consultancies or internal Consulting on behalf of Tideway Systems, in order to gain a FTEs, but the data derived by these initiatives is out of date clearer understanding of their priorities and the real impact that virtually as soon as it is mapped.today's focus on compliance has, without the hype. Traditional asset management tools such as Remedy Asset Management or Peregrine AssetCenter do provide some relevant data, however they are far from complete when the requirements CURRENT IT GOVERNANCE of the regulations are examined.
PRACTICES Complementary methodologies, frameworks and practices such as ITIL and Six Sigma are used to help dr... [download for more]

Browse Technology Topics

Data Center

Virtualization, Cloud Computing, Infrastructure, Design and Facilities, Power and Cooling, Green Computing  
    

Data Management

Application Integration, Analytical Applications, Business Intelligence, Configuration Management, Database Development, Data Integration, Data Mining, Data Protection, Data Quality, Data Replication, Database Security, EDI, SOAP, Service Oriented Architecture, Web Service Management, Data Warehousing  
    

Enterprise Applications

Application Integration, Application Performance Management, Best Practices, Business Activity Monitoring, Business Analytics, Business Integration, Business Intelligence, Business Management, Business Metrics, Business Process Automation, Business Process Management, Call Center Management, Call Center Software, Change Management, Corporate Governance, Customer Interaction Service, Customer Relationship Management, Customer Satisfaction, Customer Service, EBusiness, Enterprise Resource Planning, Enterprise Software, EProcurement, Extranets, Groupware Workflow, HIPAA Compliance, IP Faxing, IT Spending, Marketing Automation, Performance Testing, Product Lifecycle Management, Project Management, Return On Investment, Risk Management, Sales & Marketing Software, Sales Automation, Server Virtualization, Simulation Software, Supply Chain Management, System Management Software, Total Cost of Ownership, Video Conferencing, Voice Recognition, Voice Over IP, Workforce Management, Incentive Compensation, Spend Management, Manufacturing Execution Systems, International Computing  

Human Resource Technology

Human Resources Services, Payroll Software, Time and Attendance Software, Workforce Management Software, Financial Management, Employee Monitoring Software, Employee Training Software, Recruiting Software/Services, Employee Performance Management, ELearning, Benefits Management, Expense Management  
    

IT Career Advancement

Cisco Certification, Microsoft Certification, Linux Certification, Network Security Certification, Software Development Certification  

IT Management

Employee Performance, ITIL, Productivity, Project Management, Software Compliance, Sarbanes Oxley Compliance, Service Management, Desktop Management  
    

Knowledge Management

Collaboration, Collaborative Commerce, Contact Management, Content Delivery, Content Integration, Content Management System, Corporate Portals, Customer Experience Management, Document Management, Information Management, Intranets, Messaging, Records Management, Search And Retrieval, Search Engines, Secure Content Management, SLA  

Networking

Active Directory, Bandwidth Management, Convergence, Distributed Computing, Ethernet Networking, Fibre Channel, Gigabit Networking, Governance, Grid Computing, Infrastructure, Internetworking Hardware, Interoperability, IP Networks, IP Telephony, Local Area Networking, Load Balancing, Migration, Monitoring, Network Architecture, Network Management, Network Performance, Network Performance Management, Network Provisioning, Network Security, OLAP, Optical Networking, Quality Of Service, Remote Access, Remote Network Management, Server Hardware, Servers, Small Business Networks, TCP/IP Protocol, Test And Measurement, Traffic Management, Tunneling, Utility Computing, VPN, Wide Area Networks, Green Computing, Cloud Computing, Power and Cooling, Data Center Design and Management, Colocation and Web Hosting  
    

Platforms

AS/400, Domino, Linux, Microsoft Exchange, Oracle, PeopleSoft, SAP, Siebel, Solaris, Tivoli, Unix, Web Sphere, Windows, Windows Server  

Security

Access Control, Anti Spam, Anti Spyware, Anti Virus, Application Security, Auditing, Authentication, Biometrics, Business Continuity, Compliance, DDoS, Disaster Recovery, Email Security, Encryption, Firewalls, Hacker Detection, High Availability, Identity Management, Internet Security, Intrusion Detection, Intrusion Prevention, IPSec, Network Security Appliance, Password Management, Patch Management, Phishing, PKI, Policy Based Management, Security Management, Security Policies, Single Sign On, SSL, Secure Instant Messaging, Web Service Security, PCI Compliance, Vulnerability Management  
    

Software Development

.NET, C++, Database Development, Java, Middleware, Open Source, Software Outsourcing, Quality Assurance, Scripting, SOAP, Software Testing, Visual Basic, Web Development, Web Services, Web Service Security, XML  

Storage

Backup And Recovery, Blade Servers, Clustering, IP Storage, ISCSI, Network Attached Storage, RAID, Storage Area Networks, Storage Management, Storage Virtualization, Email Archiving, Data Deduplication  
    

Wireless

802.11, Bluetooth, CDMA, GPS, Mobile Computing, Mobile Data Systems, Mobile Workers, PDA, RFID, Smart Phones, WiFi, Wireless Application Software, Wireless Communications, Wireless Hardware, Wireless Infrastructure, Wireless Messaging, Wireless Phones, Wireless Security, Wireless Service Providers, WLAN  
Search