• Data Security

      • According to Richard Rzasa, CIO at TD Waterhouse, in 2006, executives in the financial services industry have a decision to make: either tighten their own security, work closely with lawmakers and educate the public to increase online security, or risk having consumers move away from using the Internet for financial transactions and self-service.
      • Currently, financial services companies are scrambling to ready systems and processes for Reg NMS and the NYSE's planned hybrid exchange structure. However, Joe Gawronski, COO at Rosenblatt Securities, says that while it's important to be prepared, don't be surprised if implementation of both Reg NMS and the NYSE's hybrid model are delayed.
      • Philippe Bibi, senior managing director and CTO at Boston-based Putnam Investments, plans to focus on adding business value in 2006 (instead of spending a lot of time focused solely on regulatory compliance) by developing technology that can automate derivatives transactions and replacing parts of Putnam's legacy systems with off-the-shelf solutions.
      • As the securities and investments industry prepares for the implementation of possibly the most dramatic series of changes we will see in our lifetime -- namely Reg NMS and the NYSE's plan to implement a hybrid exchange model -- no number of editorials or articles seems to be able to do the topics justice. In the following pages, you will find a few more viewpoints and prognostications from five of your peers.
      • Ride along as a team of security pros pokes holes in the security perimeter of one large company that thought it was safe.
      • The financial services industry is the No. 1 target of security probes by criminal hackers, according to a report on network attack trends on vertical industries from network security provider Counterpane Internet Services.
      • With the recent SEC and FFIEC recommendations casting a spotlight on online account security, behavioral biometrics has emerged as an increasingly popular technique for financial services institutions to meet federal regulators' call for multifactor authentication for online account security.
      • Diversity continues to grow within the securities industry, where women and minorities represent an increasing portion of the workforce, according to a recent study from the Securities Industry Association (SIA) that included 48 SIA member-firms representing 57 percent of total employment by SIA member companies.
      • Unbeknownst to many executives, employees using the corporate e-mail system place their companies at risk every day, according to a survey conducted by Harris Interactive for Fortiva, an e-mail archiving solution provider.
      • Single-factor authentication is insufficient for online financial services, according to the Federal Financial Institutions Examination Council (FFIEC).
      • During the bearish economy after the dot-com bubble burst, information technologists were faced with a grim job market - jobs were hard to find, partially as a result of offshore outsourcing, and the ones that were available paid significantly less than jobs at the height of the boom.

Thought Leaders

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