Autumn
2008 Training Course/Seminar Series
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IT Governance for Central Banks
4-day intensive residential programme, 26 - 29 August
2008
Venue: King’s College Cambridge University
Series adviser: Charles Goodhart, CBE, Professor Emeritus, London School of Economics, Financial Markets Group
Dear
Delegate,
Central banks are information intensive organisations whose core activities critically depend on technology support.
Openness and transparency in operations and communications, reliable and resilient operation of real-time gross and net settlement systems, and the stewardship of public funds used to conduct their activities all require operational excellence in IT.
This seminar addresses the two most important technology challenges faced by all central banks and financial market authorities.
First, how the IT function can be managed to deliver most effectively the potential benefits of robust and appropriate technology.
Second, how to ensure that, as core central bank/regulatory agency functions become more and more dependent on technology, concurrent security and operational risks are managed and mitigated.
These interlinking issues have implications for budgets, training, contingency planning, risk management and the organisation of the whole institution.
Key highlights of the seminar programme include:
Optimising the agility of IT infrastructure, systems and staff so that IT strategy is aligned with the overall mission of the central bank.
Sourcing strategies: how IT managers can select the right solutions in a world of fast-paced technological innovation and change.
Maintaining security in a web-based world:
as the use of email, the internet and remote-access functionality increases IT managers
must work with other departments to maintain secure systems.
Throughout the seminar, these issues will be reviewed through case studies, examining how large and small central banks and regulators have,
in practice, dealt with them.
The four-day programme of interactive roundtable seminars and workshops offers practical examples of how IT functions are run and the opportunities resulting from innovations in new technology.
The panel of expert speakers combines practical central banking experience as well as views from private sector experts and academics. The roundtable format encourages delegates to quiz the presenters, raise issues and discuss solutions.
Since 1997, Central Banking Publications has hosted thought-leadership seminars for over 1,500 senior policymakers from central banks, ministries of finance and financial regulatory agencies around the world. Senior officials from more than 100 countries have attended these meetings over the past ten years.
We look forward to welcoming you to Cambridge on 26 August.
Yours faithfully,
Robert Pringle
Managing Director
Developing a robust IT strategy: governance & leadership
Introduction by seminar chairman
In order to ensure that IT strategy
is closely aligned with institutional goals, most central banks have
adopted formalised IT governance procedures to some extent. However,
governance processes alone are not sufficient to guarantee effective
investment and strategy. Organisations need strong IT leaders as well
as IT governance structures. Too much focus on tightening governance
procedures can leave managers disaffected rather than energised. This
session will discuss how leaders can articulate a vision for ITs role
in an organisation.
Achieving a symbiotic relationship between business lines and IT
Philip Tromp
Chief Executive Officer, Perago
AG
IT departments are continually pulled
in different directions. While they must devise technology solutions
to business needs, they must also ensure that best practice and an appropriate
overall IT strategy is followed. Alignment of IT priorities with those
of the organisation as a whole can be a taxing process. This session
will investigate how central banks can ensure an effective partnership
for success between specialists and business units. Group discussion
will consider how IT personnel can get a firm grasp of the needs of
business operations, how IT considerations can be taken into account
in departmental business plans and the extent to which common measures
of success can be developed.
Defining the IT operating model Optimising
the deployment of infrastructure systems and staff
Chris Piper
Head of Information Systems and
Technology Division, Bank of England
In order to add value to the central
bank the objectives of IT strategy needs to be aligned with the overall
mission of the institutions and geared so that it aids the delivery
of the banks strategic objectives. Given the importance of the IT function
in the smooth running of central banking operations this session will
examine the extent to which good IT governance can help achieve central
bank objectives of reliable and resilient operation of payments and
settlement systems, excellence in analytical support for policy makers,
openness and transparency in operations and communications and value
for money and exemplary stewardship of public funds.
Sourcing strategies: the buy vs build debate
Semming Austin
Assistant Director, Norges Bank
The decision of whether to buy an
off the shelf system or develop one in-house is a perennial issue for
business- and IT managers in central banks. Taking into account both policy
and operational considerations this session will focus on key challenges
of incorporating new systems into existing business environments and the
roles of various stakeholders in such processes.
Recruiting and maintaining a cadre of
expert IT staff
S.H.A.M. Abeyratne
Assistant
Governor, Central Bank of Sri Lanka
With the rapid evolution of information
and communication technologies and the ever increasing opportunities for
IT managers away from central banks the recruitment and maintenance of
competent staff is one of the fundamental issues facing the central bank
IT manager, a challenge made more acute by the natural variances in different
labour markets. It is therefore useful to take a strategic perspective
on what are the main qualities that IT managers should be looking for
in potential staff and which are the best sources for this expertise.
Moreover, we will examine the value of ongoing development programme such
as exchange programmes and internships in the development of an effective
IT team
Operational IT challenges of large-scale
infrastructure projects
A speaker from the European Central
Bank (invited)
The construction of Target2, the new state-of-the art large-value payment
system for the euro, represented huge IT challenges: the provision of
harmonised services via an integrated IT infrastructure, improved cost-efficiency,
and readiness for swift adaptation to future developments, including enlargement
of the euro area, to name but a few. While not all central banks will
undertake a project on this scale, there are many lessons to be learned
from its design, launch and first year of operation. This session considers
these.
Does size matter? IT in large and small central banks
Workshop led by the chairman
In this workshop, delegates will have the opportunity to compare how IT strategic and operational priorities match up across a range of institutions. Differences will be discussed and examined. The group will also focus on areas of common interest, as well as examine differences and variations.
Performance measurement in the central bank IT functions
Ilkka Vasara
Advisor, IT Quality and Security, Bank of Finland
IT managers must, in addition to their operational duties, consider where and how to improve the overall performance of IT and how to assure senior management that they do their part within IT governance goal setting. This session examines how performance measurement of IT functions can work in a central bank, using a case study on the Bank of Finland.
Developing sophisticated document and records management systems
Simon Mills
Head of Information Management, Bank of England
Incorporating new technology into central
banking functions
Taiji Inui
Senior Manager, NTT Data and
formerly Information System Services Department, Bank of Japan
Security: Protecting the bank from both intentional and accidental forms of harm
Ilze Murane
Information Systems Security Manager, Bank of Latvia
Maintaining security in a web-based world
services
Bill Barouski
Senior Vice President, Federal Reserve
Bank of Chicago
Electronic commerce and banking are expanding rapidly as technologies for processing, analysing and transacting payments continue to grow. The internet presents a wealth of opportunities for central banks to deliver information and services to a wide range of clients and stakeholders yet it raises significant issues of security and reliability. A central bank must balance desire to innovate and improve with concern for protecting its reputation. This session draws on the experience of the speaker in managing the transition to web-based payments systems in the US and considers the lessons learned from this.
Speaker to be confirmed
Financial supervision and statistics are data-intensive functions which require extensive cooperation with private sector firms. Increasingly, national financial authorities are looking to collect this data electronically from reporting entities. This process has the potential to deliver huge efficiency gains, but is both complicated and sensitive for data confidentiality reasons. This session looks at the move to electronic reporting and examines how a leading institution has approached the task.
Ensuring that IT systems
enhance operational excellence
Speaker
to be confirmed
The day and the course will conclude with a session led by the chairman drawing in the main points of discussion throughout the seminar. The aim will be to compile the elements to build and assess a value proposition for the HR function within the central bank. Delegates will be encouraged to pool their thoughts and prepare action plans to take back to their home institutions.
Course conclusion: action plans
Roundtable discussion
The day and the course will conclude with a session drawing in the main points of discussion throughout the seminar. Delegates will be encouraged to pool their thoughts and prepare action plans to take back to their home institutions.
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