BearingPoint Offers Podcasts On Data Security and Operational Risk
Management consulting and systems integration firm BearingPoint today announced the first in a series of new podcasts targeted to financial services executives are available on the company's Web site, as well as on popular podcasting sites such as Apple's www.iTunes.com. A podcast is the increasingly popular form of audio broadcast downloaded to be heard via digital audio players.
The first sessions posted Monday focus on data security and operational risk.
"This business podcast series brings important information to executives through one of today's most popular mediums. We believe this approach will help our clients quickly educate themselves, help to comply to new regulations and address possible data security issues," said Christopher Formant, executive vice president, Global Financial Services, BearingPoint, in a release. "This series ... represents a more flexible way for executives to gather critical information and research results for their companies while enhancing their personal knowledge."
"With podcast audiences doubling every three to four months, the medium is very rapidly becoming an effective way to communicate to companies facing such critical issues as data security and operational risk," said Paul Dunay, director of Global Field Marketing for BearingPoint, in a release. "The podcasting market is growing because the financial services executives and the general public can now get the content they want, when they want it, and in the format they want. The ability to 'time shift' has fueled this growth. In much the same way that TiVo has brought time shifting to traditional television, podcasting is bringing the concept to audio."
New E&Y Survey Sees Growing Trend Toward Convergence in Internal Controls
Asset management firms around the world increasingly are integrating their internal control functions, according to a new Ernst & Young LLP survey that identified a growing trend toward convergence of risk management, compliance and internal audit processes, both in the United States and internationally.
"This is an important new trend in how asset management firms worldwide are thinking about operational risk management," said Steven Buller, Ernst & Young's National Director of Asset Management, in a release. "Cultural and behavioral change is under way at most of the large asset management firms, prompted by institutional investor and regulatory demands for increased transparency of performance, portfolio and operational risk reporting, as well as evidence of fiduciary principles and a strong compliance culture from their asset managers."
In terms of risk management structure, alignment and responsibilities, the largest percentage of asset management firms responding to the survey -- 51 percent -- use a "hybrid centralized/decentralized structure" in which the centralized risk management function oversees and coordinates with the risk functions embedded in the business lines. Some 23 percent of the firms surveyed use a purely decentralized structure, and another 26 percent of firms use a purely centralized approach in which the risk management function provides leadership, a common risk framework and a degree of independence and objectivity in its oversight.
"Having invested significant resources to develop enhanced control processes for Sarbanes-Oxley compliance certification and Basel II, asset management firms are being challenged to integrate all of the regulatory processes into a broader risk management framework that is efficient and effective," said Terri Messina, leader of Ernst & Young's Asset Management Advisory Services practice, in the release.
Prevari Launches Technology Risk Manager Focus Groups
Prevari, a company that works to improve upon the ways in which businesses manage IT risk and regulatory compliance requirements, recently announced the launch of a series of focus groups designed to gain feedback from risk and Sarbanes-Oxley thought leaders in regard to the features, and additional requirements, of its Technology Risk Manager.
The Technology Risk Manager is a quantitative technology risk measurement system and management tool designed to anticipate the impact of future IT implementations on organizational security risk levels.
"In our discussions with users, we found that the Technology Risk Manager could effectively be used to conduct a quantitative Sarbanes-Oxley gap analysis," said Jerry Jeschke, chief operating Officer, in a press release. "In response to this unique application, we've determined that a series of focus groups will help us gain deeper insight into requirements and enable us to expand our development vision -- directly in response to market needs."
Prevari currently deploys the Technology Risk Manager at organizations, such as First Minnesota Bank, to provide a predictive view of technology risk based upon a network's core software.
"As a technology scientist and developer of the Technology Risk Manager I realize how important it is to gain insight to additional requirements directly from the people who may be using this product," said Dr. Martin Carmichael, chief scientist, Prevari, in the release. "A series of online focus groups allows us to gain feedback from numerous risk professionals in a condensed period of time."
Zantaz and MDY to Integrate E-Mail Archiving and Records Management Solutions
ZANTAZ, a provider of Information Retention and Discovery Management (IRDM) solutions, announced this week at ILTA 2005, that the company signed a definitive agreement with MDY, a provider of Records Management innovation. The partnership will enable the MDY FileSurf Records Management solution to integrate with ZANTAZ EAS, offering joint users best-of-breed records management and e-mail archiving capabilities with simplified implementation, centralized management and significantly lower storage and administration costs. Through the partnership, ZANTAZ also will work with MDY to obtain United States Department of Defense (DoD) 5015.2 certification for ZANTAZ EAS integrated with MDY FileSurf, according to the release.
"This integration, and our records-in-place approach, will give ZANTAZ EAS customers who use MDY FileSurf the flexibility to manage their chain of business processes from archiving and records management, all the way through discovery and litigation support," said Joe Romanowski, VP, product strategy for ZANTAZ, in a release.
With this approach, multiple solutions are used throughout the organization to manage different types of information or departmental knowledge, but they are managed "in place" by a single, enterprisewide records management system. MDY refers to this approach as Federated RM.
"MDY FileSurf, when integrated via MDY's Federated RM approach with ZANTAZ's enterprisewide e-mail and file archiving capabilities, presents our customers with the most comprehensive, end-to-end solution available," said Mark L. Moerdler, Ph.D., president of MDY, in the release. "Comprised of best-in-class products, this solution set doesn't require wholesale infrastructure change as you move to a single records management solution with enhanced litigation and discovery functionality."