Monitoring Technologies Without Human Intervention
Our challenge for 2013 can be summed up in a single word– Regulations. With new rules coming from the CFPB and Dodd-Frank, the funding that would normally be allocated to discretionary projects is being usurped by efforts that are required to ensure we remain compliant.
As far as our vendors are concerned, meeting their responsibilities to keep up with regulatory changes needs to be paramount.
The areas in business environment where solutions do not yet exist or not up to the mark, and which if existed, would've made job easier
Besides keeping up with the regulatory environment, an even more important concern is making sure we are doing all we can to keep our customer’s information secure. This is our number one responsibility and something we take very seriously.
Manner in which data is used to head off problems and complications before they happen
It is important to be cognizant of the lifecycle involved here. First, are you even aware of the issues? Are you tracking hiccups that occur overnight but get fixed before dawn? How do you become aware that one of your branches 100 miles away is having connectivity problems? Before you can be pro-active, you need to make sure the basics are in place.
We continue to invest in monitoring technologies that can identify an issue, send out alerts and perform an action that may self correct the issue without human intervention, not only for our infrastructure, but for our customer accounts.
Thoughts on how IT strategic planning supports organization- wide efforts to improve quality, cut costs and improve efficiency in the financial sector
I like to look upon IT strategy from different perspectives. First, what are some of your over- rching operating principles? What do you want the IT philosophy to be concerning the “big questions?” What are your criteria for using cloud computing? When do you outsource? Organizationally, what competencies are you building? The principles that come out of this should remain relatively static over time.
Secondly, there is the internal view focused on how best to support the status quo. How do we deliver already existing services more efficiently and effectively?
Technology trends impacting enterprise business environment
First, and most obvious, is mobility. This is an area where we have been a late adopter. For years, we continually asked, “What’s the good business reason for entering into this?”
Mobility represented yet another channel and another expense where profitability is questionable.
My roles and responsibilities as a CIO
In my 18 months of tenure, the focus has been on basic blocking and tackling, strengthening our infrastructure, regulatory initiatives and M&A. While this focus continues today, we are beginning to carve out some funding for discretionary projects that will positively affect the bank’s profitability and improve the customer experience.
Lessons learned and advice for fellow CIOs
I. Be transparent. Many times the issue business partners have with their IT organizations is that they simply have no idea what IT is doing. Be willing to share everything with your business partners.
II. Keep your strategies simple and to the point. Make sure they are resonant with your business partners and your employees. Ensure there are obvious ties back to increasing revenue, saving expense and increasing quality, but avoid generic statements that could describe any business entity.
III. Give your business partners a voice. If they have the proper context, understand your challenges and constraints and that you have their best interest at heart, they will work WITH you to prioritize their efforts. Similarly, give your employees a voice too.