Business Model Canvas (BMC)- A new venture concept
Iob gm's lecture 7th jan 2014 GRC and corporate governance in Financial services
1. Wishing You All A Very Happy
&
Prosperous New Year 2014
Your Professional Well-wisher
Prof. K. Subramanian
2. Governance, Risk & Compliance in Cyber Era
Business Services Assurance in Cyber EraChallenges Before the Financial Services sector
Prof. K. Subramanian
SM(IEEE, USA), SMACM(USA), FIETE,
SMCSI,MAIMA,MAIS(USA),MCFE(USA)
Founder Director & Professor, Advanced Center for Informatics &
Innovative Learning (ACIIL), IGNOU
EX- IT Adviser to CAG of India
Ex-Sr. DDG(NIC), Ministry of Comm. & IT
Emeritus President, eInformation Systems, Security, Audit Association
Former President, Cyber Society of India
01/15/14
Prof.KS@2014 IOB GM's presentation Jan 14
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4. Notable Quotes
"The poor have sometimes objected to being governed
badly; the rich have always objected to being governed at
all." G. K. Chesterton
“Ever since men began to modify their lives by using technology
they have found themselves in a series of technological traps.”
Roger Revelle
“The law is the last interpretation of the law given by the last
judge.”- Anon.
“Privacy is where technology and the law collide.”
--Richard Smith
(who traced the ‘I Love You’ and ‘Melissa viruses’)
"Technology makes it possible for people to gain control
over everything, except over technology" John Tudor
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6. Principles of Good Governance
Leadership
Selflessness
Integrity
Objectivity
Accountability
Openness
Honesty
01/15/14 2013
10th september
Humane Governance
Should be Creative
Uses Knowledge for
National Wealth and
Health creation
Understands the
economics of Knowledge
High Morality
Prof.KS@2014 IOB GM's
presentation Jan 14
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9. Corporate Governance
Business Assurance Framework
Global Phenomena
Combined Code of UK
and SOX of USA
Basel II & III
Project Governance
IT Governance
Human & Humane
Governance
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India Initiatives
1. Clause 49
2. Basel II & III -RBI
3.SEBI- Corporate
Governance
Implementation
directives
4.Risk management-RBI
(Basel 2/3)& TRAI
5. MCA Initiatives 2013
Prof.KS@2014 IOB GM's
presentation Jan 14
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10. Global issues with Governance of
Cyber Space
Information Technology & Business: current status and
future
Does IT matter? IT--enabled Business
- Role of Information, Information Systems
- In business
- Role of information technology in enabling business
- IT dependence
Changing Role of the CIO
Web 2.0 and 3.0 and governing cyberspace
eBusiness, eHealth, eBanking, eGovernance
Current Challenges and Issues
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Prof.KS@2014 IOB GM's
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11. Creating Trust in an Enterprise
Today's information explosion is creating challenges
for business and technology leaders at virtually every
organization. The lack of trusted information and
pressure to reduce costs is on the minds of CEOs and
senior executives around the world.
What's required to solve these challenges is a
paradigm shift - from generating and managing
silos - of information, of talent and skills, of
technologies and of projects to an environment
where information is a trusted, strategic asset
that is shared across the company.
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13. ICT operations and
maintenance
Project management
and construction
ICT Transaction/
concession design
ICT planning and
design
ICT technical
solutions
Marketing and
distribution
Training
Borrowing capacity
Capital investment,
eg network
expansion
Business - technical
Investment in R & D
regulatory
developmental
Civil society
-
Investment promotion
Legal framework for
freedom of information
Sales and promotions
ICT Risk/venture capital
informational
Government
financial
Business
–
Access to development
finance
Civil society
-
ICT Infrastructure
strategy
Revenue collection
Design Parameters
informational
ICT Regulatory powers
– price, quality,
interconnections,
competition)
Government
Subsidies
Innovation (high risk), eg
community telecentres
Local customer
knowledge
Capacity to
network
Knowledge of user
demand, eg
technology and
information gaps
Civil society - technical
ICT skills development
Expertise in design of
‘relevant’ content
A voice for the
socially excluded
Capacity to mobilise
civil society
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14. Operational Integration
Professional Integration (HR)
Emotional/Cultural Integration
ICT & Government Business & Services Integration
Multi Technology coexistence and seamless integration
Information Assurance
Quality, Currency, Customization/Personalization
ICE is the sole integrator IT Governance is Important
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17. Enabling to rapidly move up the
Governance Evolution Staircase
4. Transformation
Strategy/Policy
People
Process
Technology
2. Interaction
Cost/
Complexity
1.
Searchable
Database
Public response/
email
Content mgmt.
Increased
Presence support staff
Governance
Publish
Knowledge mgmt.
E-mail best prac.
Existing
Content mgmt.
Metadata
Streamline
Data synch.
processes
Web site
Markup
Search engine
E-mail
3. Transaction
Competition
Confidentiality/privacy
Fee for transaction
E-authentication
Self-services
Skill set changes
Portfolio mgmt.
Sourcing
Inc. business staff
BPR
Relationship mgmt.
Online interfaces
Channel mgmt.
Legacy sys. links
Security
Information access
24x7 infrastructure
Sourcing
Funding stream allocations
Agency identity
“Big Browser”
Job structures
Relocation/telecommuting
Organization
Performance accountability
Multiple-programs skills
Privacy reduces
Integrated services
Trigger
Change value chain
New processes/services
Change relationships
(G2G, G2B, G2C, G2E)
New applications
New data structures
5. Outsourcing
Define policy and
outsource execution
Retain monitoring and control
Evolve PPP model
Outsource service delivery staff
Outsource process execution staff
Outsource customer
facing processes
Outsource backend processes
Constituent
Applications
Infrastructure
Value
Time
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18. Threat & Vulnerability Management
Authenticating user identities with a range of
mechanisms, such as tokens, biometrics and
Public Key Infrastructure
Developing user access policies and
procedures, rules and responsibilities and a
standardized role structure that helps
organizations meet and enforce security
standards
Centralizing user data stores in a single
enterprise directory that enables increased
efficiencies in user administration, access
control and authentication
Reducing IT operating costs and increasing
efficiency by implementing effective user
management to support self-service and
automate workflow, and by provisioning and
instituting flexible user administration
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You need an integrated threat and
vulnerability management solution to better
monitor, report on and respond to complex
security threats and vulnerabilities, as well as
meet regulatory requirements.
You need to protect both your own
information assets and those you are
custodian of, such as sensitive customer data.
You want a real-time, integrated snapshot of
your security posture.
You want to correlate events from data
emerging from multiple security touch points.
You need support from a comprehensive
inventory of known threat exposures.
You need to reduce the cost of ownership of
your threat and vulnerability management
system
Prof.KS@2014 IOB GM's presentation Jan 14
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19. Risk Identification
Assess current security capabilities, including threat management, vulnerability
management, compliance management, reporting and intelligence analysis.
Define identify technology requirements for bridging security gaps
Integrated Security Information Management
Develop processes to evaluate and prioritize security intelligence information received
from external sources, allowing organizations to minimize risks before an attack
Implement processes that support the ongoing maintenance, evolution and
administration of security standards and policies
Determine asset attributes, such as direct and indirect associations, sensitivity and asset
criticality, to help organizations allocate resources strategically
Assist in aggregating security data from multiple sources in a central repository or
"dashboard" for user-friendly presentation to managers and auditors
Help design and implement a comprehensive security reporting system that provides a
periodic, holistic view of all IT risk and compliance systems and outputs
Assist in developing governance programs to enforce policies and
accountability
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20. 9 Rules of Risk Management
There is no return without risk
Rewards to go to those who take risks.
Be Transparent
Risk is measured, and managed by people,
not mathematical models.
Know what you Don’t know
Question the assumptions you make
Communicate
Risk should be discussed openly
Diversify
Multiple risk will produce more consistent
rewards
Sow Discipline
A consistent and rigorous approach will
beat a constantly changing strategy
Use common sense
It is better to be approximately right, than
to be precisely wrong.
Return is only half the question
Decisions to be made only by considering
the risk and return of the possibilities.
RiskMetrics Group
01/15/14
Prof.KS@2014 IOB GM's presentation Jan 14
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21. Threat Modeling
Threat modeling is critical to address security
Prevention, detection, mitigation
There is no universal model yet
Mostly case-by-case
Efforts are under way
Microsoft threat modeling tool
Allows one to uncover security flaws using STRIDE
(Spoofing, Tampering, Repudiation, Information Disclosure,
Denial of Service, and Elevation of Privilege)
Decompose, analyze and mitigate
Insider threat modeling essential
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Prof.KS@2014 IOB GM's presentation Jan 14
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22. Insider Threat Modeling
How modeling can help you?
An alternative to live vulnerability testing (which is not feasible)
Modeling and analysis will reveal possible attack strategies of an
insider
Modeling and risk analysis can help answer the following
questions statically:
How secure is the existing setup?
Which points are most vulnerable?
What are likely attack strategies?
Where must security systems be placed?
What you cannot model
Non-cyber events – disclosures, memory dumps, etc.
01/15/14
Prof.KS@2014 IOB GM's presentation Jan 14
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23. Calder- Moir IT Governance Framework
10th september 2013
Prof. KS@2013 Assocham conf GRC 2013
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24. CXO Internal Strategic Alliances
CIO & CEO
Business Led Info. strategy
CIO & CMO
Competitive Edge & CVP
CIO & CTO
Cost-Benefit Optimization
CIO & CFO
Shareholder Value Maximization
CIO & CHRO
Employee Performance and Rewards
CIO & Business Partners Virtual Extended Enterprise
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25. The Productivity Promise
Capital Productivity
(ROI, EVA, MVA)
Material Productivity
(60% of Cost)
Managerial Productivity
(Information Worker)
Labour Productivity
(Enabled by IW)
Company Productivity
Micro
Factor Productivity
Macro
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26. CEO-CTO-CIO-CSO
CXO & IT Governance
Responsibility
the roles and responsibilities
"These systems should
for IT governance, highlighting
ensure that both business
the parts played by the CEO,
and technology managers are
business executives, CIO, IT
properly engaged in
steering committee,
identifying compliance
technology council, and IT
requirements and planning
architecture review board
compliance initiatives which
typically involve
complementary adjustments
in systems, practices,
training and organization"
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28. Way Forward
Learn more about own Businesses.
Reach out to all Business & Function Heads.
Sharpen Internal Consultancy Competences.
Proactively Seize the Repertoire of Partners
Foster two way flow of IS & Line Talent.
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30. Importance of Group Standards -no one standard meets all requirements
ISO 27001/BS7799 Vs COBIT Vs CMM & PCMM Vs ITIL
Mission
Mission
Business Objectives
Business Objectives
Business Risks
Business Risks
Applicable Risks
Applicable Risks
Internal Controls
Internal Controls
Review
Review
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Prof.KS@2014 IOB GM's presentation Jan 14
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31. “IT Regulations and Policies-Compliance & Management”
CREATIVITY VS COMMAND CONTROL
Too much Creativity
results in anarchy
Too much command & control
Kills Creativity
We Need a Balancing Act
In IT Regulations and Policies-Compliance & Management
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33. Assurance in the PPP Environment
10th september 2013
Prof. KS@2013 Assocham conf GRC 2013
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34. Governance - Final Message
“In Governance matters
Past is no guarantee;
Present is imperfect
&
Future is uncertain“
“Failure is not when we fall down, but when we fail to get up”
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35. Learning From Experience
========================
1. The only source of knowledge is experience.
-- Einstein
2. One must learn by doing the thing; for though you think you know it, you
have no certainty, until you try.
-- Sophocles
3. Experience is a hard teacher because she gives the test first, and the lesson
afterwards.
-- Vernon Sanders Law
4. Nothing is a waste of time if you use the experience wisely.
-- Rodin
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36. Security/Risk Assurance Expectations
“To determine how much is too much, so that we can implement
appropriate security measures to build adequate confidence and
trust”
“To derive a powerful logic for implementing or not
implementing a security measure”
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37. Let us Assure Good Governance & Business Assurance in Cyber Era
THANK YOU
For Interaction:
Prof. K. Subramanian
ksdir@nic.in
ksmanian48@gmail.com
Tele: 011-22723557
01/15/14
Prof.KS@2014 IOB GM's presentation Jan 14
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Notas do Editor
Government is by the people, for the people, and of the people
How do you handle, where do you start?
Part of the SWOT analysis – strength, weakness, opportunity and threat analysis.
Threat modeling just like any systems such as reliability is a good starting point
Decompose your system, analyze component for susceptibility to the threats, and mitigate the threats.
The development was guided by the Software Engineering Institute’s efforts in the late 80’s in building maturity models for software development.
By using such a scale, an organization can determine where it is, define where it wants to go and, if it identifies a gap, it can do an analysis to translate the findings into projects. Reference points can be added to the scale. Comparisons can be performed with what others are doing, if that data is available, and the organization can determine where emerging international standards and industry best practices are pointing for the effective management of security and control.