Enterprise Risk Management in it and its Governance: A Pragmatic Analysis for Operational Efficiency in Banking

Abstract

Operational efficiency is the most vulnerable in banking sector. A laxed operational management impairs the efficiency and finally it impacts the belief of the Indian economy as it is banking economy often. In this paper a discussion is mooted and analysis is laid upon various processes in relation to IT risk and risk management strategies available therein. This Paper also prompts some current practices which are envisaged in banking sector. A work on the tools for building operational efficiency in the course of Continuous Process Improvement (CPI) in banks is laid down. IT governance and Service Level Management process is accounted in detail. Further, Incident Management Overview process and Capacity Management Process have also been depicted. Hence, this discussion paper in IT Risk Management (ITRM) and its governance in banking delivers a launchpad-provision to the pertinent researchers. In later part of the paper, available and supported risk mitigation strategies are also discussed widely.