IT risk solutions

Effective IT governance is a must for heavily regulated industries to help protect their assets, sustain growth and meet increasing regulatory scrutiny. The Control Objectives for Information and Related Technology (COBIT) IT governance framework is a leading solution that helps companies as such as financial institutions develop a proactive IT framework that focuses on existing and emerging risks. While the COBIT framework is not a compliance regulation, its elements align with many regulatory requirements. COBIT encompasses a broad framework, defining how your board, executive leadership and three lines of defense need to align to adopt the components required for a sustainable governance system. A maturity model is embedded in the framework to help your organization understand the state of its current practices and establishes and communicates how and when they’ll mature. Our professional team has extensive experience in this area and specializes in COBIT maturity assessment, COBIT framework implementation and COBIT+ maturity assessment services.

Implementing a new enterprise resource planning (ERP) system is fraught with challenges. Ahead of your ERP launch, our advisors will help assess, diagnose and evaluate technology, processes and risks to help your organization realize full ROI potential.

With technology’s ever-changing evolution—and increasing data breaches and cyber incidents—executive leadership and boards are under pressure to make sure management is proactively evaluating and addressing IT risk. While an organization’s internal audit function plays a large role in assuring proper audit plans are in place, internal audit department support may not be sufficient to monitor areas of high-risk and so additional resources are required. RSM’s IT risk assessment helps you identify, quantify and prioritize the key risks affecting your operating environment as well as planned and future strategic initiatives. 

Our proprietary process leverages multiple IT governance frameworks—including COBIT 2019, NIST, CSA, FFIEC, PCI DSS and others—to provide a complete view of 17 IT risk domains and where your use of technology may require additional focus from the third line of defense. During the assessment, RSM conducts two surveys to collect key information from management and executive leadership, then analyzes that data to calculate your inherent IT risk. Additionally, our risk identification assessment evaluates a wide range of risk domains within four areas: emerging technology, IT and security management, programs and data, and strategy and governance. Available reports within the assessment include a risk scorecard, a top-five risks report and risk domain reports.

As companies continue to rapidly innovate, many are outsourcing their technology needs to increase efficiencies and simplify operations. Migration to the cloud helps accelerate their innovation and improvement efforts while also solving for many types of IT risks. However, adopting cloud computing also introduces new challenges, including auditing the cloud, vendors and interfaces, and managing multiple provider relationships. Company leaders must proactively address these potential IT risks to avoid operational vulnerabilities and to remain competitive in the marketplace. RSM’s experienced technology risk consultants understand your complex challenges. Our consulting approach utilizes three essential steps: IT risk assessment, IT risk program development and IT controls monitoring and testing. Our IT risk solutions address key risk challenges including identifying risks, qualifying risks, implementing controls and strategies, measuring the effectiveness of plans and performing IT risk audits. We also have extensive knowledge of emerging IT risks for a wide range of major industries. Our teams will collaborate with you to fully understand your business objectives and IT strategies, your plans and goals, where risks are prevalent and how to address them for optimal results.