Op risk a major factor in outsourcing destinations
NEW YORK – Financial institutions now consider operational risk management concerns as a major factor in the selection of IT outsourcing destinations to support their global operations, says Catherine Allen, chief executive of Bits, a consortium of the 100 largest American financial institutions, established to tackle emerging technology issues.
Discussing Managing operational risk, outsourcing and cyber security at the Invest Northern Ireland (Invest NI) opening of its New York office, Allen said American financial institutions will be working with national associations of outsourcers in different countries to ensure they meet their risk management requirements.
"There is greater focus by financial institutions' CEOs on op risk because
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