At this stage, information are used for the
purpose of decision-making. Managers depends on external and internal sources
of information. The complexity of the business organizations also increases the
quantum of points at which decision must be made, going from individual
decision-maker, at the lowest operating levels of strategic decision-maker at
and impact of decision will falls within the following,
Analysis – The MI must also support the next level of detail down from the KPI to
identified, as being vital to running of the business.
Performance Indicators – The MI must be presented on a monthly basis to monitor
the KPIs identified as being vital to running the business.
– The arrangement of data, must be easy for analysis at different aggregations.
– The accomplished of delivering high organised performance monitoring reports
via the corporate intranet.
Planning & Incentives – The data will be used, to assist business planning
in setting team targets.
Base Monitoring – The system must allow the reporting of customer recruitment
Analysis – The competence exist the examination of data, and provide answers to
questions raised at all levels throughout the business.
– Accessing of selected reports, and data should be based on level of
Management Information provides an integrated system, to deliver relevant and
timely MI to all levels of Business Banking. This support decision-making and
help make best use of sustainable levels of economic profit. It will also be a
source of information for non-Business Banking areas such as HR, Group
Executive, Group Audit and external auditors.
EVALUATION OF BENEFITS AND RISK OF
INFORMATION SYSTEM IN DECISION –MAKING AT LLOYDS BANK.
BENEFITS TO THE CLIENT
Lloyds is delighted with the solution that has been developed,
with the following benefits, which data reflects the new ‘relationship’ based
hierarchy ,and great flexibility as ad-hoc analysis can be carried out on the data,
while users can access the data electronically rather than relying on the delivery
of paper-based reports ,though the system has a low cost of ownership.
Risk of information system
Global risks change rapidly, Lloyd’s 360
Risk Insight brings together some of the views of the world’s leading business,
which drives the global risk agenda as it takes shape. However, this also means that the business
world has become dependent on computer systems. For example, entire supply
chains are run by computer systems which track and trace goods as they travel
around the world. So whilst the benefits of the cyber revolt are unquestionable.
Digital risk needs to become a board-level concern. Risk managers
need to establish ways of regularly monitoring digital risks and providing an
informed view to their companies. It will require input from technology experts
and other stakeholders across the business. It may be sensible to set up a
working group that meets regularly. Risk managers need to get closer to IT
decision-making, and links with their information security colleagues. On the
other hand, business becomes
increasingly reliant on technology, and the rate of technological change
continues rapidly, the digital risks facing LLOYDS are likely to grow and
become progressively complex.
The scale of digital attacks on Lloyds will grow, with
increasingly sophisticated attackers quickly adapting to the rapidly changing
Managers need to develop comprehensive digital risk management
strategies, that involve a range of improvements, as well as risk transfer solutions,
though there will be increase in communication ,co-operation and finally the
collaboration to tackle digital risk.
Digital risk includes the following, the impact of natural
disasters on our data centres and communications infrastructures, system
failures, the actions of criminal’s intent on stealing online banking details
or carrying out extortion (cyber-crime), corporate and nation state sponsored
espionage aimed at stealing intellectual property. It also includes penetration
or disruption of a nation’s computing infrastructure (cyber warfare), online
terrorist activity (cyber terrorism) and activist groups using the internet to
further their goals (cyber activism).
RECOMMENDATIONS FOR RISK MANAGERS
Risk managers should set up a working group to monitor, and review
the exposure of their business to digital threats and keep their boards
regularly informed. However IT governance and strategy with major technology
transformations, has considered risk transfer solutions as part of their
overall digital risk management strategy.
Risk managers need to play a role in shaping research around
digital risks, helping the reporter to understand the challenges in making
effective, and practical decisions around cyber risk.