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COBIT framework advisory services
Gain better control over your IT assets
Effective IT governance is a must for financial institutions in order to protect assets, support growth and stay in line with increasing regulatory scrutiny. The risks you face evolve on a constant basis and, in turn, you must have an active IT framework in place that encompasses your existing and emerging risks.
The Control Objectives for Information and Related Technology (COBIT®) IT governance framework is a leading solution to help you reach that critical goal. While the COBIT framework is not a compliance regulation, its elements align with many of your regulatory demands. As your institution grows, adopting the COBIT framework is both a proactive measure to address your specific compliance obligations as well as an effective response to regulatory oversight.
COBIT is a globally recognized IT governance platform, established by the Information Systems Audit and Control Association nearly 25 years ago. The framework is updated regularly to adjust control objectives to the current risk environment, with COBIT 2019 as the most recent evolution of the standard.
COBIT encompasses a broad framework, defining how your board, executive leadership and three lines of defense should align to adopt the components of a sustainable governance system. A maturity model is embedded in the framework and enables organizations to understand the state of their current practices and establish and communicate how and when they will mature.
Making COBIT work for you
RSM has extensive COBIT experience, implementing and tuning the framework to meet the specific needs of a wide range of financial institutions. We offer several specific COBIT services, including:
- COBIT maturity assessment: As mentioned, the COBIT framework is substantial, and some of its controls will be more important than others within your institution. We evaluate your environment and consider how to best tune the framework to align with your specific structure and regulatory demands.
- COBIT framework implementation: After determining how best to align COBIT to your institution, our advisors seamlessly and efficiently implement the framework within your environment.
- COBIT+ maturity assessment: COBIT is a flexible framework which enables other IT frameworks—for example, NIST for cybersecurity, ITIL for service management—or compliance requirements (GLBA, SOX) to be aligned and analyzed for a comprehensive look at your control environment.
The RSM advantage
Within a financial institution, we understand that IT risk is always at the forefront of your operations. Our team has decades of experience with implementing effective risk mitigation approaches at institutions of all sizes, and we can build a comprehensive technology risk transformation strategy that fits your specific needs. By leveraging the power of the COBIT framework, we can efficiently design a governance solution that is flexible, right-sized and aligns with your regulatory compliance requirements.