The July 2020 issue of the World Bank’s Financial Sector’s Cybersecurity: a Regulatory Digest noted that responding to cyber incidents goes beyond an engineering problem and that any business continuity decision cannot be delegated to IT specialists.
FutureCIO spoke to Kumar Ritesh, chairman and CEO of Cyfirma, to discuss among other things the operational risks of cyber threats to Asia’s financial sector.
·       What is the state of the operational risk exposures for financial services industries in Asia?
·       What are the intrinsic difficulties financial institutions face trying to manage operational risks?
·       As we look to 2021, what, in terms of operational risks, will be top of mind for security and compliance heads working at Asia’s financial institutions? 
·       Given the state of emerging technologies and the persistent cyberthreat, describe the next-generation of operational risk management for FSIs in Asia?
·       What must heads of security and CIOs include as KPIs to better manage operational risks in 2021.
·       How do the CIO and CISO sell these new ways of managing operational risks?
·       What are your expectations from both the technology side and the way the financial services industry manage the risk?