Heightened security risks can hold companies back from investing in emerging technologies, but staying on outdated systems may further jeopardize businesses.
Managing this balance relies on a holistic view of risk management that includes IT leadership in the conversation.
Historically, risk management was done locally at Wells Fargo, according to Mandy Norton, senior executive vice president and chief risk officer at Wells Fargo. As technology becomes more integrated with business decisions, the company realized only a comprehensive approach will keep the business safe.
“We’re essentially a large technology company offering financial services,” Norton said, speaking at the Lesbians Who Tech & Allies Debug 2020 Summit on Wednesday. “It’s really, really important to think about our risk management holistically because you can’t think about managing credit risk or fraud risk or market risk without incorporating technology.”
Even with the best operational risk frameworks in place, security relies on technological expertise because of the interconnectivity between tech and business priorities. IT leadership translating tech language and risk to…
