A technique for operational IT risk management in Latvian monetary and financial institutions

  • Authors:

  • Andrejs Romanovs;Yuri Merkuryev;Ruslan Klimov;Irina Solovjova

  • Affiliations:

  • Department of Modeling and Simulation, Riga Technical University, Riga, Latvia;Department of Modeling and Simulation, Riga Technical University, Riga, Latvia;Department of Modeling and Simulation, Riga Technical University, Riga, Latvia;Department of Finances, University of Latvia, Riga, Latvia

  • Venue:
  • ACS'08 Proceedings of the 8th conference on Applied computer scince
  • Year:
  • 2008

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Abstract

The existing operational risk management systems do not always adequately recognize risks connected with informational system application. Conducted analyse of Latvian monetary and financial institutions points on the inadequate level of IT risk management within operational risks management system. Thus, this research considers the problem of IT risks as operational risks subgroup, for which management, IT governance standards and practices should be used. Finally, the paper presents the technique for operational IT risks management system development for use within Latvian monetary and financial institutions.