Study On Information Technology Risk Management Of HF Bank

Information Technology is being used in Banking Industry more and more widely. Information Technology not only helps banks to improve the automation of business operation, but also changes the business models and organization structure of banks. But every coin has two sides. The banks rely on Information Technology more and more heavily in their daily operation, at the same time, the banks are facing more and more Information Technology risks. Once there are some incidents in banks’ Information Technology systems, it would have great impact on customers’ accounts and damage banks’ reputation,more over, it would impact the financial system and everyone’s daily life.HF Bank is an international bank with over 150 years history. It used the first computer for business backed in 1960 s, and now it serves in 71 countries and territories. The information technology(IT)supports the business and daily operation of HF Bank, but on the other hand, IT is also the sword of Damocles hanging over the head of IT department as it brings in the IT risks as well. Those IT risks, which catch the eyes of staff in IT department, include External Risk, IT Outsourcing Risk, Data Risk, Technical Debt Risk and New Technology Risk.In such backgrounds, this thesis put the effort to study the issues of Information Technology Risk Management of HF Bank. After introducing Information Technology Risk and its management, the author introduces several widely used and mature methodologies and best practices about Information Technology Risk Management, including ITIL(Information Technology Infrastructure Library), COBIT(Controlled Objectives for Information and Related Technology), CLASP(Comprehensive,Lightweight Application Security Process), DevOps and PDCA Cycle. Also, the author introduces the experience and practices of the IT Risk Management in HF Bank, analysis the current issues of the IT Risk Management in HF Bank and provides some solutions to mitigate those risks.The author hopes that this thesis can be helpful in improving the IT system management of Chinese commercial banks.