From: COO Connect
Awareness of cyber-crime at fund managers is moving beyond chief technology officers (CTOs) and IT personnel with a growing number of portfolio managers and other senior executives taking a growing interest.
“Historically, it was typically the CTOs and IT staff that devoted their time and resources to cyber-security but given the size and scale of the cyber-threats facing financial institutions including fund managers, awareness is becoming more widespread,” said Lisa Smith, business continuity and data privacy manager at Eze Castle Integration in Boston.
The growing attention across fund management groups to cyber-threats is also being driven by regulators, who have been forced to act following a series of high-profile cyber incidents. The Securities and Exchange Commission (SEC) in the United States announced in February 2014 that it would conduct a review on the policies and safeguards asset managers have in place to mitigate the risks of cyber-attacks as part of its investment adviser examination program.
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