A Risk & Financial Management Balancing Act

Information Technology ("IT") is quickly becoming one of the primary areas within a company that is not only laden with risk, but also regulatory complexity.  At the same time, IT is one of the first areas to which companies look for cost reduction in an economic recession.  The combination of these factors demands better decision making and priority-setting by IT risk professionals and finance managers to meet the needs of the business while properly managing risk. In this month's issue of Information Security Magazine, an IT risk professional at credit information provider Equifax shares his view of this challenge.

Let's face it, we are entering an era of tighter statutory requirements and rapidly changing regulations. But focusing solely on statute requirements can lead to a disjointed strategy that is neither comprehensive nor aligned with business goals. While compliance mandates are often used to drive security investments, compliance by itself does not ensure a company's security posture.

Instead, businesses must look beyond their technology and compliance needs and understand the challenges of ensuring their company's security posture. Achieving this level of transparency requires the right mix of innovation, talent and technology underscored by a strategy that addresses risk at the broadest level. This is where relationships with business partners and vendors can play a valuable role. By joining forces with industry-leading third-party providers, companies gain access to new thinking and innovation to address key needs and challenges. With the right strategy and technology partnerships, businesses can drive a consistent and global set of security practices focused on risk reduction and information security.

Wheelhouse Advisors is uniquely positioned to help companies address their risk and security challenges while meeting the financial demands of the businesses they support.  To learn more, email us at NavigateSuccessfully@WheelhouseAdvisors.com or visit our website at www.WheelhouseAdvisors.com.