Managing Risk in Electronic Banking
By: Fontini Consulting Ltd
Lagos State, Nigeria
Dec 09 - 12 Dec, 2014
Rapid technological changes in recent years have revolutionized the way banking services and products are delivered to corporate and consumers alike, so much so that keeping up with these changes is like trying to tame a tiger. We are all familiar with how the internet, the cell- phone, smartcards and even ATMs have changed our lives. These changes have dramatically modified and in some cases increase some of the traditional risks associated with banking activities, in particular strategic, operational, legal and reputational risks. In turn this has influenced the overall risk profile of banking. Electronic banking carries its own unique characteristics which increases and modifies some of the traditional risks associated with banking activities.
These characteristics include:
Extraordinary speed of change related to technological and customer service innovation.
Universal and global nature of open electronic networks
Integration of electronic banking applications with legacy computer systems, and
increasing dependence of banks on third parties that provides the necessary information technology on which electronic banking depends.
According to all relevant regulatory bodies, it is incumbent upon the boards of Directors and banks and other financial institutions’ senior management to take steps to ensure that their institutions have reviewed and modified where necessary their existing risk management policies and processes to cover their current or planned electronic banking activities. This course examines how the traditional risk profile has shifted and focuses on these changes and what needs to be done to effectively implement an efficient operational risk regime that includes all the required controls. In essence, we examine how to tame this tiger known as electronic banking.Who should attend?
This course is a must for every Risk Manager as well as all who are involved in all aspects of Electronic Banking Services including : Banking & Other financial institutions Product Designers Banking & Other financial institutions Supervisors Operations Risk Managers Bank and other financial institutions Operation Managers Bank Retail & Corporate Customer Managers Staff Corporate Treasurers & Associated Accounting Staff Internal & External Auditors
Venue: Westown Hotels Ikeja Lagos