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Hence,)]TJ ET EMC /P <>BDC BT 9 0 0 9 458.5731 300.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 288.75 Tm -.005 Tc [(r)9.3(elying on tr)19.5(aditional appr)9.8(oaches t)9.8(o)0( addr)9.3(ess)]TJ ET EMC /P <>BDC BT 9 0 0 9 427.4979 288.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 276.75 Tm -.005 Tc [(compliance risk is ineff)11.7(ectiv)6.4(e against the incr)9.3(easing)]TJ ET EMC /P <>BDC BT 9 0 0 9 458.527 276.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 264.75 Tm -.005 Tc [(div)6.4(ersity of the industr)-8.8(y)-7.3()54.7(s compliance ecosystem.)]TJ ET EMC /P <>BDC BT 9 0 0 9 448.5248 264.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 252.75 Tm -.005 Tc [(Compliance stak)9.8(eholders ar)9.3(e spanning senior)]TJ ET EMC /P <>BDC BT 9 0 0 9 434.7147 252.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 240.75 Tm -.005 Tc [(management, media, r)9.3(egulat)9.8(ors and shar)9.3(eholders,)]TJ ET EMC /P <>BDC BT 9 0 0 9 451.8889 240.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 228.75 Tm -.005 Tc [(and dening a clear plan and str)19.5(ategy t)9.8(o)0( r)9.3(egularly)]TJ ET EMC /P <>BDC BT 9 0 0 9 448.1898 228.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 216.75 Tm -.005 Tc [(communicate r)9.3(esults tailor)9.3(ed t)9.8(o)0( each stak)9.8(eholder)]TJ ET EMC /P <>BDC BT 9 0 0 9 449.9629 216.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 204.75 Tm -.005 Tc [(gr)9.8(oup is imper)19.5(ativ)6.4(e. )19.5(Ther)9.3(efor)9.3(e, banks must embr)19.5(ace)]TJ ET EMC /P <>BDC BT 9 0 0 9 459.7079 204.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 192.75 Tm -.005 Tc [(modern and inno)7.3(v)7.3(ativ)6.4(e str)19.5(ategies for risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 415.605 192.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 254.5 180.75 Tm -.005 Tc [(assessmentt)9.8(ogether with an eff)11.7(ectiv)6.4(e go)7.3(v)6.4(ernance)]TJ ET EMC /P <>BDC BT 9 0 0 9 458.4093 180.75 Tm 0 Tc ( )Tj ET EMC /P <>BDC /GS3 gs BT /F4 1 Tf 30 0 0 30 36 668.3816 Tm .73 .19 0 0 k -.02 Tc (Understanding Compliance Risk)Tj ET EMC /P <>BDC BT 30 0 0 30 437.6361 668.3816 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 30 0 0 30 36 634.3816 Tm -.02 Tc (in Finance and Banking )Tj ET EMC /P <>BDC BT 18 0 0 18 36 607.3816 Tm (Challenges and Recommendations)Tj ET EMC /Artifact <>BDC .72 .13 .67 .01 k 254.785 67.5 348.275 96.803 re f EMC /P <>BDC BT /F3 1 Tf 11 0 0 11 266.5235 151.0302 Tm 0 0 0 0 k [(Muhammad W)16.1(aheed Qur)9.3(eshi,)]TJ ET EMC /P <>BDC BT /F1 1 Tf 11 0 0 11 406.3123 151.0302 Tm [( CISA, CIPP/I)14.2(T)106.5(,)0( CISSP)158.2(, GPEN, )]TJ ET EMC /P <>BDC BT 11 0 0 11 266.5235 139.0302 Tm [(I)14.2(TIL v3, PCIP )]TJ ET EMC /P <>BDC BT 9 0 0 9 266.5235 128.2303 Tm 0 Tc [(Is a senior I)14.2(T)19.6( security specialist at Nor)9.3(dea Bank Abp. He has)]TJ ET EMC /P <>BDC BT 9 0 0 9 506.1003 128.2303 Tm ( )Tj ET EMC /P <>BDC BT 9 0 0 9 266.5235 117.4303 Tm [(appr)9.8(o)10.3(ximately 10 y)6.4(ears of experience in I)14.2(T)19.6( security)52.3(, which includes)]TJ ET EMC /P <>BDC BT 9 0 0 9 531.0832 117.4303 Tm ( )Tj ET EMC /P <>BDC BT 9 0 0 9 266.5235 106.6303 Tm [(cr)9.3(eation and deplo)7.3(yment of solutions and pr)9.8(otecting networks, systems,)]TJ ET EMC /P <>BDC BT 9 0 0 9 553.6096 106.6303 Tm ( )Tj ET EMC /P <>BDC BT 9 0 0 9 266.5235 95.8303 Tm [(and information assets. He is curr)9.3(ently working as a senior I)14.2(T)19.6( security)]TJ ET EMC /P <>BDC BT 9 0 0 9 544.0207 95.8303 Tm ( )Tj ET EMC /P <>BDC BT 9 0 0 9 266.5235 85.0302 Tm [(specialist/ar)9.3(chitect and helping with go)7.3(v)6.4(ernance, risk, compliance and)]TJ ET EMC /P <>BDC BT 9 0 0 9 545.9631 85.0302 Tm ( )Tj ET EMC /P <>BDC BT 9 0 0 9 266.5235 74.2303 Tm [(infr)19.5(astructur)9.3(e security ser)-8.8(vices.)]TJ ET EMC /Artifact <>BDC /GS2 gs q 1 0 0 1 572.675 31.289 cm 0 0 m 0 -39.376 l S Q EMC /Artifact <>BDC /GS3 gs 515.322 692.116 53.716 54.884 re f EMC /Figure <>BDC Q /GS3 gs BT /F5 1 Tf 9 0 0 9 515.3228 721.5889 Tm .72549 .12941 .67059 .007843 k .0249 Tc 0 Tw (FEATURE)Tj ET q 1 i 515.447 747 53.591 -54.759 re W n q 1 0 0 1 569.038 747 cm 0 0 m 0 -54.884 l -9.375 -54.884 l -9.375 -9.945 l -49.977 -9.945 l -49.977 0 l 0 0 l f Q EMC /Artifact <>BDC Q q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n 0 0 0 0 k 252.316 399.404 206.684 184.976 re f EMC /Figure <>BDC Q q 1 i 252.441 584.38 206.559 -186.741 re W n 252.316 584.38 206.684 -186.741 re W n 252.316 584.38 206.684 -184.976 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n 0 0 0 0 k 252.441 399.404 206.559 184.976 re f Q q 1 i 252.316 584.38 206.684 -186.741 re W n 252.316 584.38 206.684 -184.976 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n .14118 .027451 .13333 0 k 252.441 399.36 206.524 159.505 re f Q q 1 i 252.441 584.38 206.559 -186.741 re W n 252.316 584.38 206.684 -186.741 re W n 252.316 584.38 206.684 -184.976 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n .74118 .19608 .007843 0 k 252.441 558.865 206.524 25.515 re f Q q 1 i 252.316 584.38 206.684 -186.741 re W n 252.316 584.38 206.684 -184.976 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n 0 0 0 0 k 252.441 558.168 206.559 1.3936 re f BT /F6 1 Tf 9 0 0 9 289.7475 574.8284 Tm 0 Tc [(Figur)9.2(e).1( 1Intersection of Enterprise,)]TJ .5838 -1.1111 TD [(T)42.7(e).4(chnology and Compliance Risk)]TJ ET 0 0 0 .25 k q 1 0 0 1 435.495 478.84 cm 0 0 m 0 -38.456 -34.077 -69.631 -76.114 -69.631 c -118.15 -69.631 -152.227 -38.456 -152.227 0 c -152.227 38.455 -118.15 69.63 -76.114 69.63 c -34.077 69.63 0 38.455 0 0 c f Q .07451 .007843 .062745 0 k q 1 0 0 1 320.313 407.46 cm 0 0 m -26.273 0 -47.571 21.298 -47.571 47.571 c -47.571 59.056 -43.5 69.591 -36.724 77.811 c -36.936 75.693 -37.044 73.549 -37.044 71.38 c -37.044 39.158 -13.123 12.048 19.362 4.106 c 13.447 1.467 6.895 0 0 0 c f Q .22745 .07451 .027451 0 k /GS2 gs q 1 0 0 1 320.313 407.46 cm 0 0 m -26.273 0 -47.571 21.298 -47.571 47.571 c -47.571 59.056 -43.5 69.591 -36.724 77.811 c -36.936 75.693 -37.044 73.549 -37.044 71.38 c -37.044 39.158 -13.123 12.048 19.362 4.106 c 13.447 1.467 6.895 0 0 0 c f Q 0 0 0 .13333 k /GS3 gs q 1 0 0 1 339.674 411.566 cm 0 0 m -32.485 7.942 -56.406 35.052 -56.406 67.274 c -56.406 69.443 -56.298 71.587 -56.086 73.705 c -47.361 84.289 -34.15 91.036 -19.362 91.036 c -3.679 91.036 10.231 83.446 18.898 71.741 c 13.046 63.836 9.585 54.055 9.585 43.465 c 9.585 32.875 13.046 23.094 18.898 15.189 c 14.042 8.63 7.538 3.363 0 0 c f Q .22745 .07451 .027451 0 k /GS2 gs q 1 0 0 1 339.674 411.566 cm 0 0 m -32.485 7.942 -56.406 35.052 -56.406 67.274 c -56.406 69.443 -56.298 71.587 -56.086 73.705 c -47.361 84.289 -34.15 91.036 -19.362 91.036 c -3.679 91.036 10.231 83.446 18.898 71.741 c 13.046 63.836 9.585 54.055 9.585 43.465 c 9.585 32.875 13.046 23.094 18.898 15.189 c 14.042 8.63 7.538 3.363 0 0 c f Q .07451 .007843 .062745 0 k /GS3 gs q 1 0 0 1 396.831 407.46 cm 0 0 m -6.674 0 -13.029 1.375 -18.793 3.856 c 14.223 11.468 38.664 38.813 38.664 71.38 c 38.664 72.753 38.62 74.117 38.535 75.471 c 44.22 67.633 47.571 57.994 47.571 47.571 c 47.571 21.298 26.272 0 0 0 c f Q .37647 .11765 .031373 0 k /GS2 gs q 1 0 0 1 396.831 407.46 cm 0 0 m -6.674 0 -13.029 1.375 -18.793 3.856 c 14.223 11.468 38.664 38.813 38.664 71.38 c 38.664 72.753 38.62 74.117 38.535 75.471 c 44.22 67.633 47.571 57.994 47.571 47.571 c 47.571 21.298 26.272 0 0 0 c f Q 0 0 0 .13333 k /GS3 gs q 1 0 0 1 378.038 411.316 cm 0 0 m -7.781 3.349 -14.488 8.715 -19.466 15.439 c -13.615 23.344 -10.155 33.125 -10.155 43.715 c -10.155 54.305 -13.615 64.086 -19.466 71.991 c -10.801 83.696 3.11 91.286 18.793 91.286 c 34.642 91.286 48.683 83.533 57.328 71.615 c 57.413 70.261 57.457 68.897 57.457 67.524 c 57.457 34.957 33.016 7.612 0 0 c f Q .37647 .11765 .031373 0 k /GS2 gs q 1 0 0 1 378.038 411.316 cm 0 0 m -7.781 3.349 -14.488 8.715 -19.466 15.439 c -13.615 23.344 -10.155 33.125 -10.155 43.715 c -10.155 54.305 -13.615 64.086 -19.466 71.991 c -10.801 83.696 3.11 91.286 18.793 91.286 c 34.642 91.286 48.683 83.533 57.328 71.615 c 57.413 70.261 57.457 68.897 57.457 67.524 c 57.457 34.957 33.016 7.612 0 0 c f Q 0 0 0 .070588 k /GS3 gs q 1 0 0 1 358.572 426.755 cm 0 0 m -5.852 7.905 -9.312 17.686 -9.312 28.276 c -9.312 38.866 -5.852 48.647 0 56.552 c 5.851 48.647 9.311 38.866 9.311 28.276 c 9.311 17.686 5.851 7.905 0 0 c f Q .47843 .12549 .019608 0 k /GS2 gs q 1 0 0 1 358.572 426.755 cm 0 0 m -5.852 7.905 -9.312 17.686 -9.312 28.276 c -9.312 38.866 -5.852 48.647 0 56.552 c 5.851 48.647 9.311 38.866 9.311 28.276 c 9.311 17.686 5.851 7.905 0 0 c f Q /GS3 gs BT 10 0 0 10 278.0049 456.8487 Tm 0 0 0 1 k (Cybersecurity)Tj 0 -1.2 TD (Risk)Tj 11.2707 1.2 TD (Information)Tj 2.9424 -1.2 TD (Risk)Tj -9.156 7.9612 TD (Enterprise Risk)Tj 0 1 1 0 k -.7986 -4.8583 TD [(COMPLI)-7.6(ANCE RISK)]TJ 1 1 0 0 k -.0413 -3.6033 TD [(TECHNOL)31.4(OGY RISK)]TJ ET EMC Q endstream endobj 22 0 obj << /ExtGState << /GS2 45 0 R /GS3 46 0 R >> /Font << /F1 47 0 R /F2 48 0 R /F3 49 0 R /F4 50 0 R /F5 51 0 R /F6 52 0 R >> /ProcSet [/PDF /Text] >> endobj 23 0 obj << /Length 19494 >> stream /P <>BDC q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS2 gs BT /F1 1 Tf 7 0 0 7 414.6031 23.0228 Tm 0 0 0 1 k 0 Tc 0 Tw [( 2019 ISA)5.4(CA. All rights r)9.3(eser)-8.8(v)6.4(ed. )]TJ ET EMC /P <>BDC BT /F2 1 Tf 7 0 0 7 522.0879 23.0228 Tm [(www)60.6(.isaca.or)9.3(g)]TJ ET EMC /P <>BDC BT /F1 1 Tf 7 0 0 7 39.7789 24.9858 Tm [(ISA)5.4(CA )]TJ ET EMC /P <>BDC BT 7 0 0 7 61.2198 24.9858 Tm [(JOURN)-8.8(AL)]TJ ET EMC /P <>BDC /GS3 gs BT 7 0 0 7 92.1285 24.9858 Tm .73 .19 0 0 k [( V)6.4(OL 3)]TJ ET EMC /P <>BDC BT 7 0 0 7 13.2407 24.9858 Tm (2)Tj ET EMC /Artifact <>BDC 0 0 0 1 K 0 J 0 j .75 w 10 M [] 0 d /GS2 gs q 1 0 0 1 30.704 33.462 cm 0 0 m 0 -39.377 l S Q EMC /P <>BDC BT 9 0 0 9 141.8185 673.25 Tm 0 0 0 1 k -.005 Tc [(fr)19.5(ameworkt)9.8(o addr)9.3(ess the compliance risk acr)9.8(oss)]TJ ET EMC /P <>BDC BT 9 0 0 9 341.5276 673.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 661.25 Tm -.005 Tc [(all r)9.3(ele)6.4(v)7.3(ant domains and align risk assessment with)]TJ ET EMC /P <>BDC BT 9 0 0 9 345.1666 661.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 649.25 Tm -.005 Tc [(o)7.3(v)6.4(er)19.5(all business str)19.5(ategy and vision \()]TJ ET EMC /P <>BDC BT /F3 1 Tf 9 0 0 9 287.2118 649.25 Tm [(gur)9.3(e 2)]TJ ET EMC /P <>BDC BT /F1 1 Tf 9 0 0 9 318.0146 649.25 Tm (\). )Tj ET EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 141.8185 385.25 Tm .72 .13 .67 .01 k [(Emer)9.3(ging Risk vs. )29.3(T)31.8(r)14.7(aditional Risk)]TJ ET EMC /P <>BDC BT 11 0 0 11 308.2794 385.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 11 0 0 11 141.8185 371.25 Tm -.005 Tc (Assessment in Finance and Banking )Tj ET EMC /P <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 141.8185 353.25 Tm 0 0 0 1 k [(Hist)9.8(orically)52.3(, banks ha)7.3(v)6.4(e)0( tak)9.8(en two appr)9.8(oaches t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 333.9022 353.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 341.25 Tm -.005 Tc (risk assessmententerprise risk management)Tj ET EMC /P <>BDC BT 9 0 0 9 324.4908 341.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 329.25 Tm -.005 Tc [(\(ERM\) and internal audit \(I)-8.8(A\). While these)]TJ ET EMC /P <>BDC BT 9 0 0 9 304.0826 329.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 317.25 Tm -.005 Tc [(appr)9.8(oaches can help identify cer)-24.4(tain forms of)]TJ ET EMC /P <>BDC BT 9 0 0 9 321.0687 317.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 305.25 Tm -.005 Tc [(compliance risk, neither is designed t)9.8(o)0( detect legal)]TJ ET EMC /P <>BDC BT 9 0 0 9 341.0126 305.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 293.25 Tm -.005 Tc [(or r)9.3(egulat)9.8(or)-8.8(y compliance risk. A bank)54.7(s compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 342.3727 293.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 281.25 Tm -.005 Tc [(staff tr)19.5(aditionally work)9.8(ed in a lar)9.3(gely advisor)-8.8(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 319.7385 281.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 269.25 Tm -.005 Tc [(capacity and did not pa)7.3(y attention t)9.8(o)0( actual risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 328.2672 269.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 257.25 Tm -.005 Tc [(identication and management and, as a r)9.3(esult,)]TJ ET EMC /P <>BDC BT 9 0 0 9 328.367 257.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 245.25 Tm -.005 Tc [(often lack)9.8(ed understanding of the o)7.3(v)6.4(er)19.5(all r)9.3(egulat)9.8(or)-8.8(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 344.8008 245.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 233.25 Tm -.005 Tc [(envir)9.8(onment, business oper)19.5(ations and underlying)]TJ ET EMC /P <>BDC BT 9 0 0 9 335.1028 233.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 221.25 Tm -.005 Tc [(technologies. )19.5(T)48.4(o)0( understand and manage risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 321.8838 221.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 209.25 Tm -.005 Tc [(exposur)9.3(e holistically)52.3(, banks need t)9.8(o)0( integr)19.5(ate and)]TJ ET EMC /P <>BDC BT 9 0 0 9 335.4249 209.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 197.25 Tm -.005 Tc [(expand existing risk assessment pr)9.8(ocesses so that)]TJ ET EMC /P <>BDC BT 9 0 0 9 343.4239 197.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 185.25 Tm -.005 Tc [(the)6.4(y fully incorpor)19.5(ate compliance risk exposur)9.3(e. In)]TJ ET EMC /P <>BDC BT 9 0 0 9 339.6119 185.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 173.25 Tm -.005 Tc [(addition, banks need t)9.8(o)0( adapt or build risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 306.2964 173.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 161.25 Tm -.005 Tc [(assessment fr)19.5(ameworks and methodologies)]TJ ET EMC /P <>BDC BT 9 0 0 9 318.0164 161.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 149.25 Tm -.005 Tc [(specically t)9.8(o)0( assess compliance risk, whose)]TJ ET EMC /P <>BDC BT 9 0 0 9 320.7094 149.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 137.25 Tm -.005 Tc [(assessment diff)11.7(ers fr)9.8(om other forms of risk )]TJ ET EMC /P <>BDC BT 9 0 0 9 141.8185 125.25 Tm 0 Tc (\()Tj ET EMC /P <>BDC BT /F3 1 Tf 9 0 0 9 144.8497 125.25 Tm -.005 Tc [(gur)9.3(e 3)]TJ ET EMC /P <>BDC BT /F1 1 Tf 9 0 0 9 175.6525 125.25 Tm [(\). A pr)9.8(oper assessment fr)19.5(amework will)]TJ ET EMC /P <>BDC BT 9 0 0 9 327.6518 125.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 113.25 Tm -.005 Tc [(r)9.3(epr)9.3(esent the entir)9.3(e compliance risk landscape)]TJ ET EMC /P <>BDC BT 9 0 0 9 141.8185 101.25 Tm [(and identify and categoriz)7.8(e it int)9.8(o the r)9.3(ele)6.4(v)7.3(ant,)]TJ ET EMC /P <>BDC BT 9 0 0 9 322.8796 101.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 89.25 Tm -.005 Tc [(adjacent risk domainswhile pr)9.8(oper methodology)]TJ ET EMC /P <>BDC BT 9 0 0 9 338.681 89.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 141.8185 77.25 Tm -.005 Tc (will help in assessing the risk. )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 483.9964 Tm [(While laws and r)9.3(egulations ar)9.3(e necessar)-8.8(y)52.3(,)0( the)6.4(y ar)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 557.8971 483.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 471.9964 Tm -.005 Tc [(not sucient t)9.8(o)0( combat challenges such as mone)6.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 561.0422 471.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 459.9964 Tm -.005 Tc [(laundering and terr)9.8(orist nancing; banks need)]TJ ET EMC /P <>BDC BT 9 0 0 9 540.2978 459.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 447.9964 Tm -.005 Tc [(dedicated, skilled and experienced inv)6.4(estigat)9.8(ors)]TJ ET EMC /P <>BDC BT 9 0 0 9 548.8948 447.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 435.9964 Tm -.005 Tc [(who can monit)9.8(or lar)9.3(ge numbers of tr)19.5(ansactions on)]TJ ET EMC /P <>BDC BT 9 0 0 9 559.5604 435.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 423.9964 Tm -.005 Tc [(a daily basis and r)9.3(epor)-24.4(t suspicious beha)7.3(vior)60.1(. F)12.7(r)9.8(om)]TJ ET EMC /P <>BDC BT 9 0 0 9 557.5851 423.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 411.9964 Tm -.005 Tc [(2008 t)9.8(o)0( 2018, banks and other nancial institutions)]TJ ET EMC /P <>BDC BT 9 0 0 9 562.0225 411.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 399.9964 Tm -.005 Tc [(wer)9.3(e ned nearly US$27 billion globally for failing t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 563.7816 399.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 387.9964 Tm -.005 Tc [(comply with anti-mone)6.4(y laundering \(AML\) and)]TJ ET EMC /P <>BDC BT 9 0 0 9 541.6885 387.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 375.9964 Tm -.005 Tc [(know-y)7.3(our-cust)9.8(omer \(KY)14.2(C)12.7(\))0( r)9.3(egulations.)]TJ ET EMC /P <>BDC BT 5.4 0 0 5.4 514.6157 378.6964 Tm 0 Tc (2)Tj ET EMC /P <>BDC BT 9 0 0 9 517.6029 375.9964 Tm -.005 Tc ( Such)Tj ET EMC /P <>BDC BT 9 0 0 9 539.5748 375.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 363.9964 Tm -.005 Tc [(compliance risk is dicult t)9.8(o)0( assess with tr)19.5(aditional)]TJ ET EMC /P <>BDC BT 9 0 0 9 564.2001 363.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 351.9964 Tm -.005 Tc [(appr)9.8(oaches. Banks also need t)9.8(o)0( acquir)9.3(e or de)6.4(v)6.4(elop)]TJ ET EMC /P <>BDC BT 9 0 0 9 561.0798 351.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 339.9964 Tm -.005 Tc [(mor)9.3(e sophisticated systems t)9.8(o)0( monit)9.8(or all)]TJ ET EMC /P <>BDC BT 9 0 0 9 526.5734 339.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 327.9964 Tm -.005 Tc [(tr)19.5(ansactions. )19.5(T)48.4(ogether)60.1(, inv)6.4(estigation and monit)9.8(oring)]TJ ET EMC /P <>BDC BT 9 0 0 9 565.0405 327.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 315.9964 Tm -.005 Tc [(will help banks de)6.4(v)6.4(elop scenarios t)9.8(o)0( identify illegal)]TJ ET EMC /P <>BDC BT 9 0 0 9 558.9222 315.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 303.9964 Tm -.005 Tc [(tr)19.5(ansactionsfor example, tr)19.5(ansactions t)9.8(o)0( and fr)9.8(om)]TJ ET EMC /P <>BDC BT 9 0 0 9 564.7701 303.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 291.9964 Tm -.005 Tc [(countries with a high risk of mone)6.4(y laundering, tax)]TJ ET EMC /P <>BDC BT 9 0 0 9 557.751 291.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 279.9964 Tm -.005 Tc [(e)6.4(v)7.3(asion or other nancial crime. Without)]TJ ET EMC /P <>BDC BT 9 0 0 9 519.218 279.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 267.9964 Tm -.005 Tc [(appr)9.8(opriately tr)19.5(ained and dedicated r)9.3(esour)9.3(ces,)]TJ ET EMC /P <>BDC BT 9 0 0 9 542.8763 267.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 255.9964 Tm -.005 Tc [(banks will fail t)9.8(o)0( build the kind of compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 537.3469 255.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 243.9964 Tm -.005 Tc [(competencies and exper)-24.4(t pool needed t)9.8(o)0( addr)9.3(ess)]TJ ET EMC /P <>BDC BT 9 0 0 9 555.1591 243.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 231.9964 Tm -.005 Tc [(the risk that accompanies legal or r)9.3(egulat)9.8(or)-8.8(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 535.6439 231.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 219.9964 Tm -.005 Tc [(r)9.3(equir)9.3(ements. Banks that establish dedicated)]TJ ET EMC /P <>BDC BT 9 0 0 9 538.5586 219.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 207.9964 Tm -.005 Tc [(compliance r)9.8(oles and accountabilities acr)9.8(oss )]TJ ET EMC /P <>BDC BT 9 0 0 9 360.1818 195.9964 Tm (legal, compliance, audit and other business)Tj ET EMC /P <>BDC BT 9 0 0 9 530.1792 195.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 183.9964 Tm -.005 Tc [(functions can better establish tar)9.3(geted and )]TJ ET EMC /P <>BDC BT 9 0 0 9 360.1818 171.9964 Tm [(ecient compliance go)7.3(v)6.4(ernance pr)9.8(ocesses in all)]TJ ET EMC /P <>BDC BT 9 0 0 9 552.0214 171.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 159.9964 Tm -.005 Tc [(oper)19.5(ational geogr)19.5(aphies. )]TJ ET EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 360.1818 133.9964 Tm .72 .13 .67 .01 k [(T)43.5(echnology Risk )]TJ ET EMC /P <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 360.1818 115.9964 Tm 0 0 0 1 k [(T)48.4(oda)7.3(y)52.3(,)0( modern technologies tak)9.8(e a lar)9.3(ger r)9.8(ole in the)]TJ ET EMC /P <>BDC BT 9 0 0 9 563.2388 115.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 103.9964 Tm -.005 Tc [(nancial industr)-8.8(y)52.3(.)0( )19.5(T)48.4(echnology can aff)11.7(ect high-)]TJ ET EMC /P <>BDC BT 9 0 0 9 360.1818 91.9964 Tm [(impact risk fact)9.8(ors such as data leakage,)]TJ ET EMC /P <>BDC BT 9 0 0 9 521.7087 91.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 79.9964 Tm -.005 Tc [(compr)9.8(omised accounts and system failur)9.3(es.)]TJ ET EMC /P <>BDC BT 9 0 0 9 535.7975 79.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.1818 67.9964 Tm -.005 Tc [(T)48.4(echnological tr)19.5(ansformation acr)9.8(oss the whole)]TJ ET EMC /P <>BDC BT 9 0 0 9 545.9492 67.9964 Tm 0 Tc ( )Tj ET EMC /Artifact <>BDC 0 0 0 0 k /GS3 gs 142.551 407.717 206.684 226.736 re f EMC /Figure <>BDC Q .14118 .027451 .13333 0 k /GS3 gs 142.676 407.703 206.525 201.235 re f .74118 .19608 .007843 0 k 142.676 608.938 206.525 25.515 re f q 1 i 142.676 634.453 206.559 -226.75 re W n 0 0 0 0 K 0 J 0 j 1.393 w 10 M [] 0 d q 1 0 0 1 142.551 608.938 cm 0 0 m 206.684 0 l S Q Q BT /F6 1 Tf 9 0 0 9 188.5102 624.9026 Tm 0 0 0 0 k .0001 Tc -.0001 Tw [(Figur)9.7(e).2( 2Risk Assessment and)]TJ .3052 -1.1111 TD [(Business Str)13.5(a)0(tegy Lif)12.4(e).2( Cy)6(cles)]TJ ET .023529 .34902 .50196 0 k 1 i q 1 0 0 1 216.061 491.091 cm 0 0 m -12.432 35.884 23.753 42.286 v 23.753 14.743 l 0 0 l f Q .27451 .15294 0 0 k q 1 0 0 1 242.192 533.377 cm 0 0 m 35.442 -1.48 24.584 -41.272 v .307 -27.9 l 0 0 l f Q .57647 .019608 .68235 0 k q 1 0 0 1 265.749 490.235 cm 0 0 m -19.131 -30.129 -48.902 -1.249 v -24.335 13.65 l 0 0 l f Q .38431 .11373 .023529 0 K 0 J 0 j 4.31 w 10 M [] 0 d q 1 0 0 1 212.583 489.415 cm 0 0 m -1.289 2.316 -2.305 4.805 -3.002 7.423 c -3.719 10.111 -4.101 12.936 -4.101 15.85 c -4.101 30.616 6.263 43.148 19.858 47.19 c S Q .38431 .11373 .023529 0 k q 1 0 0 1 232.149 532.026 cm 0 0 m 6.362 5.781 l -1.824 8.402 l 0 0 l f Q q 1 0 0 1 268.425 487.385 cm 0 0 m -5.832 -8.887 -15.884 -14.756 -27.307 -14.756 c -36.79 -14.756 -45.328 -10.711 -51.29 -4.254 c S Q q 1 0 0 1 221.37 484.867 cm 0 0 m -7.984 3.185 l -6.751 -5.323 l 0 0 l f Q q 1 0 0 1 241.118 537.901 cm 0 0 m 18.024 0 32.636 -14.612 32.636 -32.636 c 32.636 -36.28 32.038 -39.784 30.936 -43.057 c S Q q 1 0 0 1 268.5 497.731 cm 0 0 m 1.031 -8.533 l 7.907 -3.375 l 0 0 l f Q .74118 .19608 .007843 0 K 1 J 2 j 8.621 w 4 M q 1 0 0 1 153.316 506.931 cm 0 0 m .669 .644 .594 31.031 16.106 51.936 c S Q .74118 .19608 .007843 0 k q 1 0 0 1 160.665 564.58 cm 0 0 m 15.853 -13.69 l 14.77 1.079 l 0 0 l f Q q 1 0 0 1 214.53 421.527 cm 0 0 m -.296 .876 -25.564 4.128 -37.536 24.803 c S Q q 1 0 0 1 168.152 440.732 cm 0 0 m 19.037 8.737 l 5.151 13.885 l 0 0 l f Q q 1 0 0 1 314.512 455.939 cm 0 0 m -.917 -.119 -9.073 -24.254 -31.698 -31.928 c S Q q 1 0 0 1 286.565 414.242 cm 0 0 m -4.825 20.382 l -12.601 7.779 l 0 0 l f Q q 1 0 0 1 320.369 551.651 cm 0 0 m -.142 -.908 12.955 -14.569 13.955 -37.077 c S Q q 1 0 0 1 344.761 515.747 cm 0 0 m -20.94 .46 l -10.7 -10.237 l 0 0 l f Q q 1 0 0 1 219.291 593.645 cm 0 0 m .808 -.451 18.21 9.118 40.928 1.387 c S Q q 1 0 0 1 262.905 605.163 cm 0 0 m -8.026 -19.347 l 5.658 -13.686 l 0 0 l f Q 0 0 1 .1 K 6 w q 1 0 0 1 226.656 546.497 cm 0 0 m .801 -.447 6.539 7.186 20.51 2.469 c S Q 0 0 1 .1 k q 1 0 0 1 249.054 556.023 cm 0 0 m -5.614 -13.454 l 3.918 -9.533 l 0 0 l f Q 0 .8 .95 0 K q 1 0 0 1 288.715 500.071 cm 0 0 m -.766 -.54 -.147 -14.552 -14.694 -26.178 c S Q 0 .8 .95 0 k q 1 0 0 1 279.009 468.586 cm 0 0 m -8.471 11.864 l -10.166 1.697 l 0 0 l f Q 0 0 0 .4 K q 1 0 0 1 208.289 472.015 cm 0 0 m -.087 .933 -12.543 7.379 -15.374 25.785 c S Q 0 0 0 .4 k q 1 0 0 1 185.827 496.12 cm 0 0 m 14.508 1.433 l 6.538 7.968 l 0 0 l f Q BT 6 0 0 6 165.6298 582.5447 Tm 0 0 0 1 k -.0003 Tc .0003 Tw (Compliance Risk)Tj .8836 -1 TD -.0006 Tc 0 Tw (Assessment)Tj 19.0268 1 TD -.0004 Tc .0004 Tw (Enterprise Risk)Tj .5842 -1 TD -.0006 Tc 0 Tw (Assessment)Tj -23.5144 -17.6757 TD -.0002 Tc [(Repor)-22.6(ting)]TJ 6.4655 0 0 6.4655 231.7748 459.0704 Tm 0 Tc .0005 Tw [(Driv)6.4(e and)]TJ -2.0493 -1.0001 TD -.0002 Tc .0007 Tw [(Implement Str)15.6(ategy)]TJ -6.502 11.751 TD .0004 Tc 0 Tw (Assessment)Tj 4.5 0 0 5 216.5141 509.3844 Tm -.0006 Tc [(T)43.6(e)-1.2(chnology)]TJ 7.2855 .36 TD -.0064 Tc [(Pe)-7(o)-6.2(p)-6.9(l)-5.5(e)]TJ 6.4655 0 0 6.4655 276.4537 528.5804 Tm -.0001 Tc .0006 Tw (Design Vision)Tj .2212 -1.0001 TD -.0002 Tc [(and Str)13.6(ategy)]TJ 4.5 0 0 5 234.4838 485.1774 Tm -.0004 Tc 0 Tw [(Pr)18.3(ocess)]TJ 6 0 0 6 226.9242 414.4494 Tm -.0001 Tc .0001 Tw [(Internal A)6.6(u).2(dit)]TJ 15.6301 9.9652 TD -.0002 Tc 0 Tw [(Repor)-22.6(ting)]TJ ET EMC /Artifact <>BDC q 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n 0 0 0 0 k 358.998 502.682 206.684 177.318 re f EMC /Figure <>BDC Q q 359.123 680 206.559 -177.928 re W n 358.998 680 206.684 -178.053 re W n 358.998 680 206.684 -177.318 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n .14118 .027451 .13333 0 k 359.123 502.68 206.525 151.805 re f .74118 .19608 .007843 0 k 359.123 654.485 206.525 25.515 re f 0 0 0 0 K 0 J 0 j 1.393 w 10 M q 1 0 0 1 358.998 654.485 cm 0 0 m 206.684 0 l S Q Q q 358.998 680 206.684 -178.053 re W n 358.998 680 206.684 -177.318 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n BT 9 0 0 9 386.1135 670.4492 Tm 0 0 0 0 k 0 Tc [(Figur)9.6(e).1( 3Integr)15(ation of ERM and I)-9.2(A).3( Int)14.2(o).2( a)]TJ -1.5522 -1.1111 TD .0001 Tc -.0001 Tw [(Holistic Compliance Risk Assessment F)12.4(r)14.9(amework)]TJ ET .52157 .14902 .015686 0 k q 1 0 0 1 553.891 577.794 cm 0 0 m 0 -28.342 -22.975 -51.316 -51.316 -51.316 c -79.657 -51.316 -102.632 -28.342 -102.632 0 c -102.632 28.34 -79.657 51.316 -51.316 51.316 c -22.975 51.316 0 28.34 0 0 c f Q q 1 0 0 1 420.905 533.798 cm 0 0 m 0 -13.975 -11.329 -25.304 -25.304 -25.304 c -39.278 -25.304 -50.608 -13.975 -50.608 0 c -50.608 13.975 -39.278 25.304 -25.304 25.304 c -11.329 25.304 0 13.975 0 0 c f Q q 1 0 0 1 420.538 624.073 cm 0 0 m 0 -13.975 -11.329 -25.304 -25.304 -25.304 c -39.278 -25.304 -50.607 -13.975 -50.607 0 c -50.607 13.975 -39.278 25.304 -25.304 25.304 c -11.329 25.304 0 13.975 0 0 c f Q .72549 .12941 .67059 .007843 k 384.101 575.575 22.176 6.595 re f 391.892 567.785 6.5947 22.175 re f q 1 0 0 1 428.601 584.759 cm 0 0 m 8.399 0 l 8.399 3.771 l 16.284 -5.886 l 9.084 -14.741 l 9.084 -11.655 l 0 -11.655 l 0 0 l f Q BT /F7 1 Tf 8.1 0 0 9 379.7722 632.771 Tm 0 0 0 0 k -.0001 Tc 0 Tw (Enterprise)Tj 1.1662 -1 TD -.0004 Tc (Risk)Tj -1.7461 -1 TD -.0002 Tc (Management)Tj 14.4 0 0 16 468.9828 597.1177 Tm (Compliance)Tj 1.4998 -1 TD -.0004 Tc (Risk)Tj -1.6003 -1 TD (Assessment)Tj .2539 -1 TD -.0002 Tc [(F)12.2(r)19(amework)]TJ 8.1 0 0 9 383.4763 535.667 Tm 0 Tc (Internal)Tj .4595 -1 TD -.0056 Tc [(Au)-6(d)-6.3(i)-5.2(t)]TJ ET EMC Q endstream endobj 24 0 obj << /ExtGState << /GS2 45 0 R /GS3 46 0 R >> /Font << /F1 47 0 R /F2 48 0 R /F3 49 0 R /F6 52 0 R /F7 53 0 R >> /ProcSet [/PDF /Text] >> endobj 25 0 obj << /Length 17170 >> stream /P <>BDC q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS2 gs BT /F1 1 Tf 7 0 0 7 36.9471 23.0228 Tm 0 0 0 1 k 0 Tc 0 Tw [( 2019 ISA)5.4(CA. All rights r)9.3(eser)-8.8(v)6.4(ed. )]TJ ET EMC /P <>BDC BT /F2 1 Tf 7 0 0 7 144.4321 23.0228 Tm [(www)60.6(.isaca.or)9.3(g)]TJ ET EMC /P <>BDC BT /F1 1 Tf 7 0 0 7 488.5055 23.0228 Tm [(ISA)5.4(CA )]TJ ET EMC /P <>BDC BT 7 0 0 7 509.9464 23.0228 Tm [(JOURN)-8.8(AL)]TJ ET EMC /P <>BDC /GS3 gs BT 7 0 0 7 540.8551 23.0228 Tm .73 .19 0 0 k [( V)6.4(OL 3)]TJ ET EMC /P <>BDC BT 7 0 0 7 584.9167 23.0228 Tm (3)Tj ET EMC /Artifact <>BDC 0 0 0 1 K 0 J 0 j .75 w 10 M [] 0 d /GS2 gs q 1 0 0 1 570.156 31.289 cm 0 0 m 0 -39.376 l S Q EMC /P <>BDC BT 9 0 0 9 35.461 673.25 Tm 0 0 0 1 k -.005 Tc [(banking industr)-8.8(y has led t)9.8(o)0( a constantly changing)]TJ ET EMC /P <>BDC BT 9 0 0 9 230.4879 673.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 661.25 Tm -.005 Tc [(business envir)9.8(onment. Many banks ar)9.3(e being)]TJ ET EMC /P <>BDC BT 9 0 0 9 213.5586 661.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 649.25 Tm -.005 Tc [(digitally tr)19.5(ansformed with the help of sophisticated)]TJ ET EMC /P <>BDC BT 9 0 0 9 235.6351 649.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 637.25 Tm -.005 Tc [(technologies, and banks ar)9.3(e de)6.4(v)6.4(eloping inno)7.3(v)7.3(ativ)6.4(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 233.2609 637.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 625.25 Tm -.005 Tc [(banking pr)9.8(oducts. Consequently)52.3(, digital)]TJ ET EMC /P <>BDC BT 9 0 0 9 190.2663 625.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 613.25 Tm -.005 Tc [(tr)19.5(ansformation is incr)9.3(easing compliance and)]TJ ET EMC /P <>BDC BT 9 0 0 9 211.6372 613.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 601.25 Tm -.005 Tc (cybersecurity risk. All risk domains inherit some)Tj ET EMC /P <>BDC BT 9 0 0 9 223.6938 601.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 589.25 Tm -.005 Tc (elements of technology risk such as technology)Tj ET EMC /P <>BDC BT 9 0 0 9 223.3763 589.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 577.25 Tm -.005 Tc [(failur)9.3(e disrupting oper)19.5(ations, e.g., security)]TJ ET EMC /P <>BDC BT 9 0 0 9 199.6996 577.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 565.25 Tm -.005 Tc [(infr)19.5(astructur)9.3(e or ser)-8.8(vices outage. )19.5(This ultimately)]TJ ET EMC /P <>BDC BT 9 0 0 9 225.9912 565.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 553.25 Tm -.005 Tc [(leads t)9.8(o)0( security incidents, which ma)7.3(y r)9.3(esult in data)]TJ ET EMC /P <>BDC BT 9 0 0 9 238.1215 553.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 541.25 Tm -.005 Tc [(leakage and the r)9.3(esulting legal liability)52.3(, r)9.3(eputational)]TJ ET EMC /P <>BDC BT 9 0 0 9 236.0539 541.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 529.25 Tm -.005 Tc [(damage, and compliance issues. Aside fr)9.8(om)]TJ ET EMC /P <>BDC BT 9 0 0 9 210.3693 529.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 517.25 Tm -.005 Tc [(technology risk, cybersecurity risk and risk r)9.3(elated)]TJ ET EMC /P <>BDC BT 9 0 0 9 231.5218 517.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 505.25 Tm -.005 Tc [(t)9.8(o)0( information and priv)7.3(acy ar)9.3(e pr)9.3(e)6.4(v)7.3(alent. )]TJ ET EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 35.461 479.25 Tm .72 .13 .67 .01 k [(Cybersecurity)81.6(, Information and Priv)7.3(acy )]TJ ET EMC /P <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 35.461 461.25 Tm 0 0 0 1 k [(T)48.4(oda)7.3(y)52.3(,)0( banks ar)9.3(e tr)19.5(ansforming int)9.8(o scalable,)]TJ ET EMC /P <>BDC BT 9 0 0 9 208.8193 461.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 449.25 Tm -.005 Tc [(r)9.3(esilient, simplied, digital institutions that off)11.7(er)]TJ ET EMC /P <>BDC BT 9 0 0 9 222.3188 449.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 437.25 Tm -.005 Tc [(ser)-8.8(vices in the cloud. As a r)9.3(esult, cybersecurity is a)]TJ ET EMC /P <>BDC BT 9 0 0 9 235.2199 437.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 425.25 Tm -.005 Tc [(t)9.8(op issue and poses a big challenge in terms of)]TJ ET EMC /P <>BDC BT 9 0 0 9 221.1472 425.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 413.25 Tm -.005 Tc (compliance. Senior management has become)Tj ET EMC /P <>BDC BT 9 0 0 9 216.7028 413.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 401.25 Tm -.005 Tc [(incr)9.3(easingly concerned about the impact that)]TJ ET EMC /P <>BDC BT 9 0 0 9 213.5784 401.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 389.25 Tm -.005 Tc [(cybersecurity \(and r)9.3(elated ar)9.3(chitectur)19.5(al changes\))]TJ ET EMC /P <>BDC BT 9 0 0 9 228.2115 389.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 377.25 Tm -.005 Tc [(can ha)7.3(v)6.4(e)0( on business outcomes. Under immense)]TJ ET EMC /P <>BDC BT 9 0 0 9 229.5657 377.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 365.25 Tm -.005 Tc [(pr)9.3(essur)9.3(e t)9.8(o)0( e)6.4(v)7.3(olv)6.4(e technologically)52.3(, banks nd)]TJ ET EMC /P <>BDC BT 9 0 0 9 213.3973 365.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 353.25 Tm -.005 Tc [(themselv)6.4(es subject t)9.8(o)0( cybersecurity rules and)]TJ ET EMC /P <>BDC BT 9 0 0 9 215.5154 353.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 341.25 Tm -.005 Tc [(r)9.3(egulations emer)9.3(ging fr)9.8(om r)9.3(egional and global)]TJ ET EMC /P <>BDC BT 9 0 0 9 217.5721 341.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 329.25 Tm -.005 Tc [(authorities, par)-24.4(ticularly in terms of data pr)9.8(otection;)]TJ ET EMC /P <>BDC BT 9 0 0 9 234.5695 329.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 317.25 Tm -.005 Tc [(in this context, digital tr)19.5(ansformation r)9.3(equir)9.3(es banks)]TJ ET EMC /P <>BDC BT 9 0 0 9 240.5637 317.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 305.25 Tm -.005 Tc [(t)9.8(o)0( focus not only on business oppor)-24.4(tunity)52.3(, but also)]TJ ET EMC /P <>BDC BT 9 0 0 9 234.0541 305.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 293.25 Tm -.005 Tc [(on data liabilities. Responding t)9.8(o)0( these rules,)]TJ ET EMC /P <>BDC BT 9 0 0 9 211.1848 293.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 281.25 Tm -.005 Tc [(r)9.3(egulations and r)9.3(equir)9.3(ements is itself ar)9.3(duous and)]TJ ET EMC /P <>BDC BT 9 0 0 9 233.3564 281.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 269.25 Tm -.005 Tc [(potentially self-def)11.7(eating fr)9.8(om a business)]TJ ET EMC /P <>BDC BT 9 0 0 9 198.7007 269.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 257.25 Tm -.005 Tc [(standpoint, since it str)9.3(etches limited r)9.3(esour)9.3(ces and)]TJ ET EMC /P <>BDC BT 9 0 0 9 236.4744 257.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 35.461 245.25 Tm -.005 Tc [(assetspotentially e)6.4(v)6.4(en be)6.4(y)7.3(ond expected mar)9.3(gins)]TJ ET EMC /P <>BDC BT 9 0 0 9 234.3132 245.25 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 483.9964 Tm -.005 Tc [(of pr)9.8(otand, in many cases, can r)9.3(equir)9.3(e banks t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 451.1415 483.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 471.9964 Tm -.005 Tc (discriminate among conicting mandates and)Tj ET EMC /P <>BDC BT 9 0 0 9 434.8978 471.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 459.9964 Tm -.005 Tc [(choose which t)9.8(o)0( follow)60.6(. )19.5(These rules and r)9.3(egulations)]TJ ET EMC /P <>BDC BT 9 0 0 9 457.595 459.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 447.9964 Tm -.005 Tc [(ensur)9.3(e the condentiality)52.3(, integrity and a)7.3(v)7.3(ailability)]TJ ET EMC /P <>BDC BT 9 0 0 9 448.8259 447.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 435.9964 Tm -.005 Tc [(\(CI)-8.8(A\) of the bank)54.7(s data assets and infr)19.5(astructur)9.3(e.)]TJ ET EMC /P <>BDC BT 9 0 0 9 449.2103 435.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 423.9964 Tm -.005 Tc [(Ther)9.3(efor)9.3(e, compliance with cybersecurity rules and)]TJ ET EMC /P <>BDC BT 9 0 0 9 454.1815 423.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 411.9964 Tm -.005 Tc [(r)9.3(egulations must be obser)-8.8(v)6.4(ed and monit)9.8(or)9.3(ed)]TJ ET EMC /P <>BDC BT 9 0 0 9 430.4419 411.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 399.9964 Tm -.005 Tc [(r)9.3(egularly and uniformly)52.3(, with the same vigilance)]TJ ET EMC /P <>BDC BT 9 0 0 9 439.998 399.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 387.9964 Tm -.005 Tc [(applied t)9.8(o)0( other domains including nancial,)]TJ ET EMC /P <>BDC BT 9 0 0 9 427.3107 387.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 375.9964 Tm -.005 Tc [(oper)19.5(ational and business risk. )]TJ ET EMC /P <>BDC BT 9 0 0 9 253.5 351.9964 Tm -.025 Tc [(Cybersecurity risk and compliance risk ar)9.3(e closely)]TJ ET EMC /P <>BDC BT 9 0 0 9 440.9032 351.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 339.9964 Tm -.025 Tc [(r)9.3(elated, and it can be v)6.4(e)0(r)-8.8(y)0( dicult t)9.8(o)0( dr)19.5(aw a bor)9.3(der)]TJ ET EMC /P <>BDC BT 9 0 0 9 442.6023 339.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 327.9964 Tm -.025 Tc [(between them. F)10.3(or example, the US P)5.4(atriot Act)]TJ ET EMC /P <>BDC BT 9 0 0 9 428.8882 327.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 315.9964 Tm -.025 Tc [(r)9.3(equir)9.3(es all US nancial institutions t)9.8(o)0( appoint a)]TJ ET EMC /P <>BDC BT 9 0 0 9 432.2108 315.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 303.9964 Tm -.025 Tc [(minimum of two Bank Secr)9.3(ecy Act \(BSA\) contacts,)]TJ ET EMC /P <>BDC BT 9 0 0 9 444.3641 303.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 291.9964 Tm -.025 Tc [(who ar)9.3(e r)9.3(esponsible for r)9.3(epor)-24.4(ting suspicious)]TJ ET EMC /P <>BDC BT 9 0 0 9 421.2908 291.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 279.9964 Tm -.025 Tc [(tr)19.5(ansactions that ma)7.3(y identify mone)6.4(y laundering. On)]TJ ET EMC /P <>BDC BT 9 0 0 9 449.9595 279.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 267.9964 Tm -.025 Tc [(30 Januar)-8.8(y 2019, BSA ocers at some cr)9.3(edit unions)]TJ ET EMC /P <>BDC BT 9 0 0 9 451.007 267.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 255.9964 Tm -.025 Tc [(began t)9.8(o)0( r)9.3(eceiv)6.4(e spoof emails that appear)9.3(ed t)9.8(o)0( be)]TJ ET EMC /P <>BDC BT 9 0 0 9 442.1169 255.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 243.9964 Tm -.025 Tc [(sent fr)9.8(om BSA ocers at other cr)9.3(edit unions.)]TJ ET EMC /P <>BDC BT 5.4 0 0 5.4 422.9476 246.6964 Tm 0 Tc (3)Tj ET EMC /P <>BDC BT 9 0 0 9 425.755 243.9964 Tm -.025 Tc ( A PDF)Tj ET EMC /P <>BDC BT 9 0 0 9 451.2866 243.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 231.9964 Tm -.025 Tc [(le with links t)9.8(o)0( malicious sites was attached t)9.8(o)0( the)]TJ ET EMC /P <>BDC BT 9 0 0 9 447.0178 231.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 219.9964 Tm -.025 Tc [(emails. )19.5(This attack r)9.3(eects a tar)9.3(geted spear-phishing)]TJ ET EMC /P <>BDC BT 9 0 0 9 452.8582 219.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 207.9964 Tm -.025 Tc [(campaigna serious cybersecurity thr)9.3(eat. If the attack)]TJ ET EMC /P <>BDC BT 9 0 0 9 458.0078 207.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 195.9964 Tm -.025 Tc (had been successfulif BSA ocers had opened the)Tj ET EMC /P <>BDC BT 9 0 0 9 452.603 195.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 183.9964 Tm -.025 Tc [(PDF le, followed its malicious links and ther)9.3(eb)5.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 434.3694 183.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 171.9964 Tm -.025 Tc [(allowed an attack)9.8(er t)9.8(o)0( br)9.3(each any cr)9.3(edit union)]TJ ET EMC /P <>BDC BT 9 0 0 9 426.5803 171.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 159.9964 Tm -.025 Tc [(system\(s\)it could ha)7.3(v)6.4(e)0( r)9.3(ealiz)7.8(ed both compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 442.6934 159.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 147.9964 Tm -.025 Tc [(and cybersecurity risk, as the br)9.3(each ma)7.3(y ha)7.3(v)6.4(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 428.6018 147.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 135.9964 Tm -.025 Tc [(compr)9.8(omised data priv)7.3(acy alongside infr)19.5(astructur)9.3(e.)]TJ ET EMC /P <>BDC BT 9 0 0 9 448.0706 135.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 111.9964 Tm -.005 Tc [(The or)9.3(ganizational home of cybersecurity pr)9.8(ogr)19.5(ams)]TJ ET EMC /P <>BDC BT 9 0 0 9 457.206 111.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 99.9964 Tm -.005 Tc (can sometimes complicate the management of)Tj ET EMC /P <>BDC BT 9 0 0 9 440.5844 99.9964 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 253.5 87.9964 Tm -.005 Tc [(compliance risk for cybersecurity)52.3(, which, in many)]TJ ET EMC /P <>BDC BT 9 0 0 9 446.022 87.9964 Tm 0 Tc ( )Tj ET EMC /Artifact <>BDC .72 .13 .67 .01 k /GS3 gs 35.461 75.499 205.5 158.975 re f EMC /P <>BDC BT 14 0 0 14 71.7071 204.9038 Tm 0 0 0 0 k .0351 Tc [(CYBERSECURI)14.1(T)-7.8(Y)]TJ ET EMC /P <>BDC BT 14 0 0 14 184.2267 204.9038 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 14 0 0 14 44.7072 186.9038 Tm .0351 Tc -.0175 Tw [(RISK)17.5( AND)17.5( COMPLI)-8.8(ANCE)]TJ ET EMC /P <>BDC BT 14 0 0 14 205.003 186.9038 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 44.7072 168.9038 Tm .0351 Tc -.0175 Tw [(RISK)17.5( ARE)17.5( CL)31.7(OSEL)116.7(Y)]TJ ET EMC /P <>BDC BT 14 0 0 14 169.9005 168.9038 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 44.7072 150.9038 Tm .0351 Tc -.0175 Tw [(REL)-9.3(A)63(TED)67.4(,)35.1( AND)17.5( I)14.1(T)37.1( CAN)17.5( BE)]TJ ET EMC /P <>BDC BT 14 0 0 14 211.6066 150.9038 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 44.7072 132.9038 Tm .0351 Tc -.0175 Tw [(VER)23.4(Y)17.5( DIFFICUL)134.2(T)37.1( )19.6(T)13.6(O)17.5( DRA)33.7(W)]TJ ET EMC /P <>BDC BT 14 0 0 14 218.3674 132.9038 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 44.7072 114.9038 Tm .0351 Tc -.0175 Tw [(A)17.5( BORDER)17.5( BE)-9.8(T)-7.4(WEEN)]TJ ET EMC /P <>BDC BT 14 0 0 14 183.7159 114.9038 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 44.7072 96.9038 Tm .0351 Tc [(THEM)17.6(.)]TJ ET EMC /Figure <>BDC Q q 1 i 92.854 105.624 23 -23.75 re W n .027451 .98039 .8 .003922 k /GS3 gs q 1 0 0 1 110.958 95.336 cm 0 0 m -.099 -2.881 -.579 -5.075 -1.441 -6.582 c -2.301 -8.089 -3.643 -9.223 -5.464 -9.985 c -3.279 -13.462 l -.265 -12.104 1.937 -10.101 3.328 -7.452 c 4.389 -5.464 4.918 -2.252 4.918 2.186 c 4.918 10.382 l -4.67 10.382 l -4.67 0 l 0 0 l h -12.64 0 m -12.739 -2.881 -13.219 -5.075 -14.081 -6.582 c -14.941 -8.089 -16.283 -9.223 -18.104 -9.985 c -15.919 -13.462 l -12.905 -12.104 -10.703 -10.101 -9.312 -7.452 c -8.251 -5.464 -7.722 -2.252 -7.722 2.186 c -7.722 10.382 l -17.31 10.382 l -17.31 0 l -12.64 0 l f Q EMC /Figure <>BDC Q q 1 i 41.654 230.329 23 -23.75 re W n .027451 .98039 .8 .003922 k /GS3 gs q 1 0 0 1 46.572 216.961 cm 0 0 m .099 2.881 .579 5.075 1.441 6.582 c 2.301 8.089 3.643 9.223 5.464 9.985 c 3.279 13.462 l .265 12.104 -1.937 10.101 -3.328 7.452 c -4.389 5.464 -4.918 2.252 -4.918 -2.186 c -4.918 -10.382 l 4.67 -10.382 l 4.67 0 l 0 0 l h 12.64 0 m 12.739 2.881 13.219 5.075 14.081 6.582 c 14.941 8.089 16.283 9.223 18.104 9.985 c 15.919 13.462 l 12.905 12.104 10.703 10.101 9.312 7.452 c 8.251 5.464 7.722 2.252 7.722 -2.186 c 7.722 -10.382 l 17.31 -10.382 l 17.31 0 l 12.64 0 l f Q EMC /Figure <>BDC Q q 1 i 246.311 705.499 371.517 -247.75 re W n 254.949 677.591 349.503 -172.5 re 88.628 96.904 m W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS3 gs q 350.047 0 0 -174.095 254.087 678.499 cm /Im2 Do Q EMC Q endstream endobj 26 0 obj << /ExtGState << /GS2 45 0 R /GS3 46 0 R >> /Font << /F1 47 0 R /F2 48 0 R /F3 49 0 R >> /ProcSet [/PDF /Text /ImageB /ImageC] /XObject << /Im1 54 0 R /Im2 55 0 R >> >> endobj 27 0 obj << /Length 19837 >> stream /P <>BDC q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS2 gs BT /F1 1 Tf 7 0 0 7 414.6031 23.0228 Tm 0 0 0 1 k 0 Tc 0 Tw [( 2019 ISA)5.4(CA. All rights r)9.3(eser)-8.8(v)6.4(ed. )]TJ ET EMC /P <>BDC BT /F2 1 Tf 7 0 0 7 522.0879 23.0228 Tm [(www)60.6(.isaca.or)9.3(g)]TJ ET EMC /P <>BDC BT /F1 1 Tf 7 0 0 7 39.7789 24.9858 Tm [(ISA)5.4(CA )]TJ ET EMC /P <>BDC BT 7 0 0 7 61.2198 24.9858 Tm [(JOURN)-8.8(AL)]TJ ET EMC /P <>BDC /GS3 gs BT 7 0 0 7 92.1285 24.9858 Tm .73 .19 0 0 k [( V)6.4(OL 3)]TJ ET EMC /P <>BDC BT 7 0 0 7 13.2407 24.9858 Tm (4)Tj ET EMC /Artifact <>BDC 0 0 0 1 K 0 J 0 j .75 w 10 M [] 0 d /GS2 gs q 1 0 0 1 30.704 33.462 cm 0 0 m 0 -39.377 l S Q EMC /Artifact <>BDC .72 .13 .67 .01 k /GS3 gs .32394 545.445 348.821 140.256 re f EMC /P <>BDC /GS2 gs BT 9 0 0 9 143.6449 526.6948 Tm 0 0 0 1 k -.005 Tc [(banks, is still managed b)5.4(y)0( the I)14.2(T)19.5( or)9.3(ganization\(s\). I)14.2(T)]TJ ET EMC /P <>BDC BT 9 0 0 9 343.3962 526.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 514.6948 Tm -.005 Tc [(sometimes fails t)9.8(o)0( gr)19.5(asp the business impor)-24.4(tance)]TJ ET EMC /P <>BDC BT 9 0 0 9 341.5381 514.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 502.6949 Tm -.005 Tc [(of pr)9.8(otecting information assets and, as a r)9.3(esult,)]TJ ET EMC /P <>BDC BT 9 0 0 9 334.2894 502.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 490.6949 Tm -.005 Tc [(banks ma)7.3(y lose the appr)9.8(opriate focus r)9.3(equir)9.3(ed t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 336.8799 490.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 478.6949 Tm -.005 Tc [(r)9.3(educe thr)9.3(eats and mitigate risk. When I)14.2(T)19.5( driv)6.4(es)]TJ ET EMC /P <>BDC BT 9 0 0 9 331.2242 478.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 466.6949 Tm -.005 Tc [(cybersecurity initiativ)6.4(es but lacks an understanding)]TJ ET EMC /P <>BDC BT 9 0 0 9 345.3132 466.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 454.6949 Tm -.005 Tc [(of the business implications of security str)19.5(ategy)]TJ ET EMC /P <>BDC BT 9 0 0 9 332.6688 454.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 442.6949 Tm -.005 Tc [(and/or r)9.3(ele)6.4(v)7.3(ant compliance r)9.3(equir)9.3(ements, the r)9.3(esult)]TJ ET EMC /P <>BDC BT 9 0 0 9 347.3358 442.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 430.6949 Tm -.005 Tc (can be cybersecurity outcomes that do not)Tj ET EMC /P <>BDC BT 9 0 0 9 312.0536 430.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 418.6949 Tm -.005 Tc [(adequately suppor)-24.4(t the o)7.3(v)6.4(er)19.5(all banking business. )]TJ ET EMC /P <>BDC BT 9 0 0 9 143.6449 406.6949 Tm [(The following questions r)9.8(outinely arise in)]TJ ET EMC /P <>BDC BT 9 0 0 9 305.096 406.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 394.6949 Tm -.005 Tc [(cybersecurity implementations and ser)-8.8(v)6.4(e)0( t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 315.9285 394.6949 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 382.6949 Tm -.005 Tc [(illustr)19.5(ate this point: )]TJ ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 364.6949 Tm [(How will encr)-8.8(yption and decr)-8.8(yption of online)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 329.3654 364.6949 Tm 0 Tc ( )Tj ET EMC /Lbl <>BDC /GS3 gs BT /F8 1 Tf 12 0 0 12 143.6449 364.6949 Tm .04 1 .83 0 k ()Tj ET EMC /LBody <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 154.6449 352.6949 Tm 0 0 0 1 k -.005 Tc [(tr)19.5(ansactions be per)-7.3(formed inside or outside a)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 334.1456 352.6949 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 340.6949 Tm -.005 Tc [(par)-24.4(ticular jurisdiction? )]TJ ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 322.6949 Tm [(Wher)9.3(e and how will aler)-24.4(ts and logs be gener)19.5(ated)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 345.4551 322.6949 Tm 0 Tc ( )Tj ET EMC /Lbl <>BDC /GS3 gs BT /F8 1 Tf 12 0 0 12 143.6449 322.6949 Tm .04 1 .83 0 k ()Tj ET EMC /LBody <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 154.6449 310.6949 Tm 0 0 0 1 k -.005 Tc [(and st)9.8(or)9.3(ed? )]TJ ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 292.6948 Tm [(While decr)-8.8(ypting tr)19.5(ac externally)52.3(, who will ha)7.3(v)6.4(e)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 341.9473 292.6948 Tm 0 Tc ( )Tj ET EMC /Lbl <>BDC /GS3 gs BT /F8 1 Tf 12 0 0 12 143.6449 292.6948 Tm .04 1 .83 0 k ()Tj ET EMC /LBody <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 154.6449 280.6948 Tm 0 0 0 1 k -.005 Tc [(access t)9.8(o)0( the decr)-8.8(ypted data? )]TJ ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 262.6948 Tm [(How will accountability be tr)19.5(aced and)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 301.775 262.6948 Tm 0 Tc ( )Tj ET EMC /Lbl <>BDC /GS3 gs BT /F8 1 Tf 12 0 0 12 143.6449 262.6948 Tm .04 1 .83 0 k ()Tj ET EMC /LBody <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 154.6449 250.6948 Tm 0 0 0 1 k -.005 Tc [(substantiated in the e)6.4(v)6.4(ent of a br)9.3(each or data)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 333.2788 250.6948 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 238.6948 Tm -.005 Tc (leakage, and how will nes be applied, if imposed)Tj ET EMC /LBody <>BDC BT 9 0 0 9 348.4545 238.6948 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 154.6449 226.6948 Tm -.005 Tc [(b)5.4(y)0( r)9.3(egulat)9.8(or)-8.8(y authorities? )]TJ ET EMC /P <>BDC BT 9 0 0 9 143.6449 202.6948 Tm [(These questions not only r)9.3(eect the intersection )]TJ ET EMC /P <>BDC BT 9 0 0 9 143.6449 190.6948 Tm [(of compliance and cybersecurity)52.3(, the)6.4(y also)]TJ ET EMC /P <>BDC BT 9 0 0 9 310.9363 190.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 178.6948 Tm -.005 Tc [(underscor)9.3(e the per)9.3(ennial possibility that)]TJ ET EMC /P <>BDC BT 9 0 0 9 301.3309 178.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 166.6948 Tm -.005 Tc [(cybersecurity risk can turn int)9.8(o compliance risk, )]TJ ET EMC /P <>BDC BT 9 0 0 9 143.6449 154.6948 Tm [(and the)6.4(y can only be answer)9.3(ed b)5.4(y)0( a clearly dened)]TJ ET EMC /P <>BDC BT 9 0 0 9 342.9037 154.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 142.6948 Tm -.005 Tc [(compliance risk str)19.5(ategy)52.3(, especially as it informs)]TJ ET EMC /P <>BDC BT 9 0 0 9 334.6277 142.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 130.6948 Tm -.005 Tc [(cybersecurity ex)9.8(ecution. )]TJ ET EMC /P <>BDC BT 9 0 0 9 143.6449 106.6948 Tm [(Achie)6.4(ving compliance, it should be noted, does not)]TJ ET EMC /P <>BDC BT 9 0 0 9 343.4388 106.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 94.6948 Tm -.005 Tc [(necessarily guar)19.5(antee a secur)9.3(e infr)19.5(astructur)9.3(e;)]TJ ET EMC /P <>BDC BT 9 0 0 9 323.2413 94.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 143.6449 82.6948 Tm -.005 Tc [(banks t)9.8(oda)7.3(y ar)9.3(e ned for security br)9.3(eaches e)6.4(v)6.4(e)0(n)]TJ ET EMC /P <>BDC BT 9 0 0 9 334.1168 82.6948 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 678.9513 Tm -.005 Tc [(when the)6.4(y ar)9.3(e consider)9.3(ed compliant with a specic)]TJ ET EMC /P <>BDC BT 9 0 0 9 563.5043 678.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 666.9513 Tm -.005 Tc [(set of r)9.3(egulations. Banks tend t)9.8(o)0( r)9.3(ely on )]TJ ET EMC /P <>BDC BT /F2 1 Tf 9 0 0 9 520.41 666.9513 Tm (ad hoc)Tj ET EMC /P <>BDC BT /F1 1 Tf 9 0 0 9 546.5952 666.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 654.9513 Tm -.005 Tc [(appr)9.8(oaches for demonstr)19.5(ating cybersecurity)]TJ ET EMC /P <>BDC BT 9 0 0 9 536.9554 654.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 642.9512 Tm -.005 Tc (compliance andwhen the compliance function)Tj ET EMC /P <>BDC BT 9 0 0 9 551.1707 642.9512 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 630.9513 Tm -.005 Tc [(leads the char)9.3(gear)9.3(e often primarily motiv)7.3(ated b)5.4(y)0( a)]TJ ET EMC /P <>BDC BT 9 0 0 9 566.6092 630.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 618.9513 Tm -.005 Tc [(desir)9.3(e t)9.8(o)0( a)7.3(v)7.3(oid sanctions, nes and other)]TJ ET EMC /P <>BDC BT 9 0 0 9 523.5488 618.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 606.9513 Tm -.005 Tc [(consequences. Ideally)52.3(, the cybersecurity function at)]TJ ET EMC /P <>BDC BT 9 0 0 9 565.3995 606.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 594.9513 Tm -.005 Tc [(a bank will r)9.3(etain the primar)-8.8(y r)9.3(esponsibility for)]TJ ET EMC /P <>BDC BT 9 0 0 9 543.4916 594.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 582.9513 Tm -.005 Tc (identifying and documenting compliance)Tj ET EMC /P <>BDC BT 9 0 0 9 522.8882 582.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 570.9513 Tm -.005 Tc [(obligations. )19.5(T)48.4(o)0( optimiz)7.8(e security and manage)]TJ ET EMC /P <>BDC BT 9 0 0 9 541.3699 570.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 558.9513 Tm -.005 Tc (cybersecurity compliance risk, cybersecurity)Tj ET EMC /P <>BDC BT 9 0 0 9 536.2194 558.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 546.9513 Tm -.005 Tc [(initiativ)6.4(es should not be driv)6.4(en b)5.4(y)0( the compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 556.2435 546.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 534.9513 Tm -.005 Tc [(function: Consider)19.5(ations ar)9.8(ound optimal)]TJ ET EMC /P <>BDC BT 9 0 0 9 520.7559 534.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 522.9513 Tm -.005 Tc [(cybersecurity ex)9.8(ceed any par)-24.4(ticular set of)]TJ ET EMC /P <>BDC BT 9 0 0 9 526.0569 522.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 510.9513 Tm -.005 Tc [(compliance r)9.3(equir)9.3(ements. Legal and compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 553.9811 510.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 498.9513 Tm -.005 Tc [(functions can contribute t)9.8(o)0( the disco)7.3(v)6.4(e)0(r)-8.8(y)0( of such)]TJ ET EMC /P <>BDC BT 9 0 0 9 554.7416 498.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 486.9513 Tm -.005 Tc [(obligations, but ne)6.4(v)6.4(er driv)6.4(e the activities. )]TJ ET EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 362.1449 460.9513 Tm .72 .13 .67 .01 k -.0293 Tw [(Digital T)31.8(r)14.7(ansformation )]TJ ET EMC /P <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 362.1449 442.9513 Tm 0 0 0 1 k 0 Tw [(Acr)9.8(oss the banking industr)-8.8(y)52.3(,)0( digital tr)19.5(ansformation)]TJ ET EMC /P <>BDC BT 9 0 0 9 560.8611 442.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 430.9513 Tm -.005 Tc [(not only constantly r)9.3(eshapes the business)]TJ ET EMC /P <>BDC BT 9 0 0 9 527.851 430.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 418.9513 Tm -.005 Tc [(envir)9.8(onment, but also off)11.7(ers exponentially gr)9.3(eater)]TJ ET EMC /P <>BDC BT 9 0 0 9 557.4169 418.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 406.9513 Tm -.005 Tc [(business oppor)-24.4(tunities based on new capabilities)]TJ ET EMC /P <>BDC BT 9 0 0 9 556.9003 406.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 394.9513 Tm -.005 Tc [(and ser)-8.8(vices. )19.5(T)48.4(op management often tr)9.3(eats digital)]TJ ET EMC /P <>BDC BT 9 0 0 9 560.3666 394.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 382.9513 Tm -.005 Tc [(tr)19.5(ansformation as a business pr)9.8(opositionwhether)]TJ ET EMC /P <>BDC BT 9 0 0 9 563.3956 382.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 370.9513 Tm -.005 Tc [(t)9.8(o)0( establish footprints in new geogr)19.5(aphies,)]TJ ET EMC /P <>BDC BT 9 0 0 9 529.5275 370.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 358.9513 Tm -.005 Tc [(str)9.3(eamline oper)19.5(ations or incr)9.3(ease r)9.3(etention. K)12.7(e)6.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 550.4669 358.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 346.9513 Tm -.005 Tc [(functions in banks that dir)9.3(ectly aff)11.7(ect business)]TJ ET EMC /P <>BDC BT 9 0 0 9 546.3667 346.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 334.9513 Tm -.005 Tc [(pr)9.8(ot and loss ar)9.3(e hea)7.3(vily inv)7.3(olv)6.4(ed in digital)]TJ ET EMC /P <>BDC BT 9 0 0 9 533.005 334.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 322.9513 Tm -.005 Tc [(tr)19.5(ansformation, and the)6.4(y expect t)9.8(o)0( see a r)9.3(eturn on)]TJ ET EMC /P <>BDC BT 9 0 0 9 558.4056 322.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 310.9513 Tm -.005 Tc [(inv)6.4(estments. Meanwhile, the compliance function is)]TJ ET EMC /P <>BDC BT 9 0 0 9 566.4827 310.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 298.9513 Tm -.005 Tc [(left outor ma)7.3(y e)6.4(v)6.4(en be consider)9.3(ed an obstacle t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 561.0126 298.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 286.9513 Tm -.005 Tc [(achie)6.4(ving enterprise goals. )]TJ ET EMC /P <>BDC BT 9 0 0 9 362.1449 262.9513 Tm [(Digitally tr)19.5(ansformed business models in the)]TJ ET EMC /P <>BDC BT 9 0 0 9 537.7882 262.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 250.9513 Tm -.005 Tc [(nancial industr)-8.8(y ha)7.3(v)6.4(e)0( intensied competition,)]TJ ET EMC /P <>BDC BT 9 0 0 9 544.9185 250.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 238.9513 Tm -.005 Tc [(especially among banks, t)9.8(o)0( become multichannel)]TJ ET EMC /P <>BDC BT 9 0 0 9 556.5771 238.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 226.9513 Tm -.005 Tc [(oper)19.5(at)9.8(ors and accommodate e)6.4(v)6.4(er-e)6.4(v)7.3(olving)]TJ ET EMC /P <>BDC BT 9 0 0 9 530.626 226.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 214.9513 Tm -.005 Tc [(cust)9.8(omer beha)7.3(viors. Banks embr)19.5(ace modern)]TJ ET EMC /P <>BDC BT 9 0 0 9 539.0844 214.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 202.9513 Tm -.005 Tc [(application ar)9.3(chitectur)9.3(es for ser)-8.8(vices and nd)]TJ ET EMC /P <>BDC BT 9 0 0 9 542.2686 202.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 190.9513 Tm -.005 Tc [(inno)7.3(v)7.3(ativ)6.4(e wa)7.3(ys of off)11.7(ering pr)9.8(oducts t)9.8(o)0( cust)9.8(omers.)]TJ ET EMC /P <>BDC BT 9 0 0 9 562.33 190.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 178.9513 Tm -.005 Tc [(Consequently)52.3(, banks incr)9.3(easingly risk liability)]TJ ET EMC /P <>BDC BT 9 0 0 9 539.1738 178.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 166.9513 Tm -.005 Tc [(whene)6.4(v)6.4(er cust)9.8(omer data ar)9.3(e not suciently)]TJ ET EMC /P <>BDC BT 9 0 0 9 534.4867 166.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 154.9513 Tm -.005 Tc [(saf)11.7(eguar)9.3(ded. )19.5(The misuse of F)16.6(acebook data b)5.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 544.4601 154.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 142.9513 Tm -.005 Tc [(Cambridge Analytica and the E)9.3(quifax data br)9.3(each,)]TJ ET EMC /P <>BDC BT 9 0 0 9 558.3638 142.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 130.9513 Tm -.005 Tc [(for example, illustr)19.5(ate the business risk of losing or)]TJ ET EMC /P <>BDC BT 9 0 0 9 562.7299 130.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 118.9513 Tm -.005 Tc [(misusing data. While many banks ar)9.3(e digitally)]TJ ET EMC /P <>BDC BT 9 0 0 9 541.9576 118.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 106.9513 Tm -.005 Tc [(tr)19.5(ansformed, tr)19.5(aditional methods r)9.3(emain in place)]TJ ET EMC /P <>BDC BT 9 0 0 9 554.3296 106.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 94.9513 Tm -.005 Tc (for internal and external audit, risk assessment, and)Tj ET EMC /P <>BDC BT 9 0 0 9 565.3195 94.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 362.1449 82.9513 Tm -.005 Tc [(compliance assur)19.5(ance. )19.5(The disparity is especially)]TJ ET EMC /P <>BDC BT 9 0 0 9 556.9476 82.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC /GS3 gs BT 14 0 0 14 69.8556 656.1311 Tm 0 0 0 0 k .0351 Tc -.0175 Tw [(WHEN)17.5( DIGI)14.1(T)38.5(A)0(L)17.5( STRA)63(TEGY)17.5( F)83(AILS)17.5( )19.6(T)13.6(O)]TJ ET EMC /P <>BDC BT 14 0 0 14 307.8762 656.1311 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 42.8556 638.1311 Tm .0351 Tc -.0175 Tw [(CONSIDER)17.5( COMPLI)-8.8(ANCE)17.5( RISK)17.5( IN)]TJ ET EMC /P <>BDC BT 14 0 0 14 262.1456 638.1311 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 42.8556 620.1311 Tm .0351 Tc -.0175 Tw [(EMERGING)17.6( )19.6(TECHNOL)31.7(OGIES)17.5(,)35.1( BANKS)17.5( CAN)]TJ ET EMC /P <>BDC BT 14 0 0 14 313.3468 620.1311 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 42.8556 602.1311 Tm .0351 Tc -.0175 Tw [(MISS)17.5( OPPOR)39(TUNI)14.1(TIES)17.5( )19.6(T)13.6(O)17.5( DEVEL)31.7(OP)]TJ ET EMC /P <>BDC BT 14 0 0 14 279.9396 602.1311 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 42.8556 584.1311 Tm .0351 Tc -.0175 Tw [(SUST)38.5(AIN)-8.8(ABLE)17.5(,)35.1( RISK)48.8(-)17.5(BASED)17.5( DIGI)14.1(T)38.5(A)0(L)]TJ ET EMC /P <>BDC BT 14 0 0 14 282.3049 584.1311 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 42.8556 566.1311 Tm .0351 Tc [(ARCHI)14.1(TEC)14.1(TURE)17.5(.)]TJ ET EMC /Figure <>BDC Q q 1 i 155.396 574.57 23 -23.75 re W n .027451 .98039 .8 .003922 k /GS3 gs q 1 0 0 1 173.5 564.282 cm 0 0 m -.099 -2.881 -.579 -5.075 -1.441 -6.582 c -2.301 -8.089 -3.643 -9.223 -5.464 -9.985 c -3.279 -13.462 l -.265 -12.104 1.937 -10.101 3.328 -7.452 c 4.389 -5.464 4.918 -2.252 4.918 2.186 c 4.918 10.382 l -4.67 10.382 l -4.67 0 l 0 0 l h -12.64 0 m -12.739 -2.881 -13.219 -5.075 -14.081 -6.582 c -14.941 -8.089 -16.283 -9.223 -18.104 -9.985 c -15.919 -13.462 l -12.905 -12.104 -10.703 -10.101 -9.312 -7.452 c -8.251 -5.464 -7.722 -2.252 -7.722 2.186 c -7.722 10.382 l -17.31 10.382 l -17.31 0 l -12.64 0 l f Q EMC /Figure <>BDC Q q 1 i 39.803 681.557 23 -23.75 re W n .027451 .98039 .8 .003922 k /GS3 gs q 1 0 0 1 44.721 668.189 cm 0 0 m .099 2.881 .579 5.075 1.441 6.582 c 2.301 8.089 3.643 9.223 5.464 9.985 c 3.279 13.462 l .265 12.104 -1.937 10.101 -3.328 7.452 c -4.389 5.464 -4.918 2.252 -4.918 -2.186 c -4.918 -10.382 l 4.67 -10.382 l 4.67 0 l 0 0 l h 12.64 0 m 12.739 2.881 13.219 5.075 14.081 6.582 c 14.941 8.089 16.283 9.223 18.104 9.985 c 15.919 13.462 l 12.905 12.104 10.703 10.101 9.312 7.452 c 8.251 5.464 7.722 2.252 7.722 -2.186 c 7.722 -10.382 l 17.31 -10.382 l 17.31 0 l 12.64 0 l f Q EMC Q endstream endobj 28 0 obj << /ExtGState << /GS2 45 0 R /GS3 46 0 R >> /Font << /F1 47 0 R /F2 48 0 R /F3 49 0 R /F8 56 0 R >> /ProcSet [/PDF /Text] >> endobj 29 0 obj << /Length 19557 >> stream /P <>BDC q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS2 gs BT /F1 1 Tf 7 0 0 7 36.9471 23.0228 Tm 0 0 0 1 k 0 Tc 0 Tw [( 2019 ISA)5.4(CA. All rights r)9.3(eser)-8.8(v)6.4(ed. )]TJ ET EMC /P <>BDC BT /F2 1 Tf 7 0 0 7 144.4321 23.0228 Tm [(www)60.6(.isaca.or)9.3(g)]TJ ET EMC /P <>BDC BT /F1 1 Tf 7 0 0 7 488.5055 23.0228 Tm [(ISA)5.4(CA )]TJ ET EMC /P <>BDC BT 7 0 0 7 509.9464 23.0228 Tm [(JOURN)-8.8(AL)]TJ ET EMC /P <>BDC /GS3 gs BT 7 0 0 7 540.8551 23.0228 Tm .73 .19 0 0 k [( V)6.4(OL 3)]TJ ET EMC /P <>BDC BT 7 0 0 7 584.9167 23.0228 Tm (5)Tj ET EMC /Artifact <>BDC 0 0 0 1 K 0 J 0 j .75 w 10 M [] 0 d /GS2 gs q 1 0 0 1 570.156 31.289 cm 0 0 m 0 -39.376 l S Q EMC /P <>BDC BT 9 0 0 9 36.6449 678.9513 Tm 0 0 0 1 k -.005 Tc [(concerning giv)6.4(en that the de)6.4(v)6.4(elopment of)]TJ ET EMC /P <>BDC BT 9 0 0 9 200.1943 678.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 666.9513 Tm -.005 Tc [(inno)7.3(v)7.3(ativ)6.4(e banking pr)9.8(oducts can multiply)]TJ ET EMC /P <>BDC BT 9 0 0 9 197.685 666.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 654.9513 Tm -.005 Tc [(compliance risk fact)9.8(ors. When digital str)19.5(ategy fails)]TJ ET EMC /P <>BDC BT 9 0 0 9 235.9446 654.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 642.9512 Tm -.005 Tc [(t)9.8(o)0( consider compliance risk in emer)9.3(ging)]TJ ET EMC /P <>BDC BT 9 0 0 9 194.2451 642.9512 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 630.9513 Tm -.005 Tc [(technologies, banks can miss oppor)-24.4(tunities t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 218.1978 630.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 618.9513 Tm -.005 Tc [(de)6.4(v)6.4(elop sustainable, risk-based digital ar)9.3(chitectur)9.3(e.)]TJ ET EMC /P <>BDC BT 9 0 0 9 238.2725 618.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 606.9513 Tm -.005 Tc [(By inv)7.3(olving the compliance function in their digital)]TJ ET EMC /P <>BDC BT 9 0 0 9 236.7345 606.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 594.9513 Tm -.005 Tc [(journe)6.4(y)52.3(,)0( banks can better manage new risk fact)9.8(ors)]TJ ET EMC /P <>BDC BT 9 0 0 9 234.5457 594.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 582.9513 Tm -.005 Tc [(and minimiz)7.8(e their impact on existing infr)19.5(astructur)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 239.8864 582.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 570.9513 Tm -.005 Tc [(and business. )19.5(The challenge is t)9.8(o)0( manage)]TJ ET EMC /P <>BDC BT 9 0 0 9 202.0444 570.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 558.9513 Tm -.005 Tc [(compliance risk in mor)9.3(e inno)7.3(v)7.3(ativ)6.4(e wa)7.3(ys so that)]TJ ET EMC /P <>BDC BT 9 0 0 9 225.5127 558.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 546.9513 Tm -.005 Tc [(compliance functions r)9.3(emain sustainable and)]TJ ET EMC /P <>BDC BT 9 0 0 9 216.4641 546.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 534.9513 Tm -.005 Tc [(r)9.3(ele)6.4(v)7.3(ant t)9.8(o)0( the banking envir)9.8(onment and risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 211.3391 534.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 522.9513 Tm -.005 Tc (ecosystem. Sustainable compliance risk)Tj ET EMC /P <>BDC BT 9 0 0 9 195.4809 522.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 510.9513 Tm -.005 Tc [(management r)9.3(equir)9.3(es inno)7.3(v)7.3(ativ)6.4(e thinking,)]TJ ET EMC /P <>BDC BT 9 0 0 9 201.0557 510.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 498.9513 Tm -.005 Tc [(r)9.3(esour)9.3(ces whose skills ar)9.3(e continually r)9.3(efr)9.3(eshed)]TJ ET EMC /P <>BDC BT 9 0 0 9 225.8633 498.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 486.9513 Tm -.005 Tc [(and updated, and inv)6.4(estment in the right)]TJ ET EMC /P <>BDC BT 9 0 0 9 194.9735 486.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 474.9513 Tm -.005 Tc [(technologies. Banks ha)7.3(v)6.4(e)0( an oppor)-24.4(tunity t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 206.9467 474.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 462.9513 Tm -.005 Tc [(tr)19.5(ansform compliance activity fr)9.8(om a cost center t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 239.0173 462.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 450.9513 Tm -.005 Tc [(a function that deliv)6.4(ers v)7.3(alue and instills)]TJ ET EMC /P <>BDC BT 9 0 0 9 194.6232 450.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 438.9513 Tm -.005 Tc [(compliance cultur)9.3(e thr)9.8(oughout the or)9.3(ganizationif)]TJ ET EMC /P <>BDC BT 9 0 0 9 236.0883 438.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 426.9513 Tm -.005 Tc [(the)6.4(y equip it with the right skills and experience, for)]TJ ET EMC /P <>BDC BT 9 0 0 9 237.8662 426.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 414.9513 Tm -.005 Tc [(example, in emer)9.3(ging r)9.3(egulat)9.8(or)-8.8(y domains such as)]TJ ET EMC /P <>BDC BT 9 0 0 9 232.2407 414.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 402.9513 Tm -.005 Tc [(ar)-24.4(ticial intelligence \(AI\) systems and big data)]TJ ET EMC /P <>BDC BT 9 0 0 9 219.0955 402.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 390.9513 Tm -.005 Tc [(analytics, which ar)9.3(e often o)7.3(v)6.4(erlook)9.8(ed t)9.8(oda)7.3(y)52.3(.)0( )]TJ ET EMC /P <>BDC BT 9 0 0 9 36.6449 366.9513 Tm -.02 Tc [(While building new capabilities ar)9.8(ound AI, adv)7.3(anced)]TJ ET EMC /P <>BDC BT 9 0 0 9 233.5036 366.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 354.9513 Tm -.02 Tc [(analytics and managed ser)-8.8(vices, now mor)9.3(e than e)6.4(v)6.4(e)0(r)60.1(,)]TJ ET EMC /P <>BDC BT 9 0 0 9 239.599 354.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 342.9513 Tm -.02 Tc [(banks can establish par)-24.4(tnerships t)9.8(o)0( shar)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 195.9592 342.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 330.9513 Tm -.02 Tc [(infr)19.5(astructur)9.3(e, skills and capabilities; the compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 235.6973 330.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 318.9513 Tm -.02 Tc [(r)9.8(ole could be e)6.4(v)7.3(olv)6.4(ed t)9.8(o)0( engage, suppor)-24.4(t and balance)]TJ ET EMC /P <>BDC BT 9 0 0 9 239.1948 318.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 306.9513 Tm -.02 Tc [(business expectations, and tak)9.8(e a mor)9.3(e activ)6.4(e par)-24.4(t in)]TJ ET EMC /P <>BDC BT 9 0 0 9 238.7644 306.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 294.9513 Tm -.02 Tc [(suppor)-24.4(ting business pr)9.8(ocesses and str)19.5(ategy)52.3(.)]TJ ET EMC /P <>BDC BT 9 0 0 9 207.4118 294.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 282.9513 Tm -.02 Tc [(Compliance activities ar)9.3(e still time-consuming and)]TJ ET EMC /P <>BDC BT 9 0 0 9 228.6871 282.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 270.9513 Tm -.02 Tc [(highly manual in most banks and tend t)9.8(o)0( lag behind)]TJ ET EMC /P <>BDC BT 9 0 0 9 232.7433 270.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 258.9513 Tm -.02 Tc [(the r)19.5(ate of change in the risk ecosystem;)]TJ ET EMC /P <>BDC BT 9 0 0 9 190.5012 258.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 246.9513 Tm -.02 Tc [(consequently)52.3(, the)6.4(y might benet fr)9.8(om business)]TJ ET EMC /P <>BDC BT 9 0 0 9 216.7066 246.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 234.9513 Tm -.02 Tc [(insights int)9.8(o new t)9.8(ools and technology)52.3(.)]TJ ET EMC /P <>BDC BT 9 0 0 9 184.8363 234.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 36.6449 208.9513 Tm .72 .13 .67 .01 k -.005 Tc [(P)6.4(olitical Risk: Domestic and International )]TJ ET EMC /P <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 36.6449 190.9513 Tm 0 0 0 1 k [(Compar)9.3(ed with technical inno)7.3(v)7.3(ation, political)]TJ ET EMC /P <>BDC BT 9 0 0 9 213.1486 190.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 178.9513 Tm -.005 Tc [(uncer)-24.4(tainty can pose a diff)11.7(er)9.3(ent kind of challenge)]TJ ET EMC /P <>BDC BT 9 0 0 9 36.6449 166.9513 Tm [(often less pr)9.3(edictable and mor)9.3(e disruptiv)6.4(eas)]TJ ET EMC /P <>BDC BT 9 0 0 9 218.9142 166.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 154.9513 Tm -.005 Tc [(banks tr)-8.8(y t)9.8(o)0( manage compliance risk. In many)]TJ ET EMC /P <>BDC BT 9 0 0 9 217.856 154.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 142.9513 Tm -.005 Tc [(countries, changes in domestic go)7.3(v)6.4(ernments and)]TJ ET EMC /P <>BDC BT 9 0 0 9 230.6465 142.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 130.9513 Tm -.005 Tc [(ex)9.8(ecutiv)6.4(e administr)19.5(ation lead t)9.8(o)0( changes in)]TJ ET EMC /P <>BDC BT 9 0 0 9 207.4333 130.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 118.9513 Tm -.005 Tc [(r)9.3(egulat)9.8(or)-8.8(y priorities, v)7.3(ariation in le)6.4(v)6.4(els of)]TJ ET EMC /P <>BDC BT 9 0 0 9 195.6232 118.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 36.6449 106.9513 Tm -.005 Tc [(enfor)9.3(cement and other challenges. International)]TJ ET EMC /P <>BDC BT 9 0 0 9 226.04 106.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 678.9513 Tm -.005 Tc [(bor)9.3(ders ha)7.3(v)6.4(e)0( alwa)7.3(ys been a point of friction for)]TJ ET EMC /P <>BDC BT 9 0 0 9 440.4785 678.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 666.9513 Tm -.005 Tc (banks: Shifting or ambiguous international)Tj ET EMC /P <>BDC BT 9 0 0 9 422.2122 666.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 654.9513 Tm -.005 Tc [(r)9.3(egulations can incr)9.3(ease geopolitical risk fact)9.8(ors,)]TJ ET EMC /P <>BDC BT 9 0 0 9 448.157 654.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 642.9512 Tm -.005 Tc (which, in turn, can exacerbate compliance risk. )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 618.9513 Tm [(T)48.4(o)0( addr)9.3(ess compliance risk, banks oper)19.5(ating in)]TJ ET EMC /P <>BDC BT 9 0 0 9 440.3752 618.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 606.9513 Tm -.005 Tc [(international geogr)19.5(aphies must incorpor)19.5(ate)]TJ ET EMC /P <>BDC BT 9 0 0 9 425.4948 606.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 594.9513 Tm -.005 Tc [(geopolitical risk in their o)7.3(v)6.4(er)19.5(all risk management)]TJ ET EMC /P <>BDC BT 9 0 0 9 445.8817 594.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 582.9513 Tm -.005 Tc [(pr)19.5(actices. Domestic compliance ocers should)]TJ ET EMC /P <>BDC BT 9 0 0 9 442.8028 582.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 570.9513 Tm -.005 Tc [(r)9.3(emain aler)-24.4(t and embr)19.5(ace international changes)]TJ ET EMC /P <>BDC BT 9 0 0 9 443.873 570.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 558.9513 Tm -.005 Tc [(quickly)52.3(. E)12.7(v)6.4(en if r)9.3(egulations become mor)9.3(e r)9.3(elax)9.8(ed)]TJ ET EMC /P <>BDC BT 9 0 0 9 447.3516 558.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 546.9513 Tm -.005 Tc (with new political winds \(whether domestically or)Tj ET EMC /P <>BDC BT 9 0 0 9 449.0599 546.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 534.9513 Tm -.005 Tc [(internationally\), compliance ocers ar)9.3(e r)9.3(esponsible)]TJ ET EMC /P <>BDC BT 9 0 0 9 458.6072 534.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 522.9513 Tm -.005 Tc [(for assessing the v)7.3(acuum left in the wak)9.8(e of )]TJ ET EMC /P <>BDC BT 9 0 0 9 255.1448 510.9513 Tm [(prior r)9.3(egulations and/or interpr)9.3(eting the r)9.3(ele)6.4(v)7.3(ance)]TJ ET EMC /P <>BDC BT 9 0 0 9 450.7014 510.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 498.9513 Tm -.005 Tc [(of new r)9.3(egulations. )]TJ ET EMC /P <>BDC BT 9 0 0 9 255.1448 474.9513 Tm [(Many banks ha)7.3(v)6.4(e)0( not y)6.4(et de)6.4(v)6.4(eloped clear pr)9.8(ocesses)]TJ ET EMC /P <>BDC BT 9 0 0 9 460.4111 474.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 462.9513 Tm -.005 Tc (for conducting business with politically exposed)Tj ET EMC /P <>BDC BT 9 0 0 9 444.6224 462.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 450.9513 Tm -.005 Tc [(individuals, e.g., politicians, policy mak)9.8(ers, public)]TJ ET EMC /P <>BDC BT 9 0 0 9 446.674 450.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 438.9513 Tm -.005 Tc [(oce personnel, and ha)7.3(v)6.4(e)0( y)6.4(et t)9.8(o)0( de)6.4(v)6.4(elop r)9.8(obust,)]TJ ET EMC /P <>BDC BT 9 0 0 9 444.5665 438.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 426.9513 Tm -.005 Tc [(ecient KY)14.2(C pr)9.8(ocedur)9.3(es. As a r)9.3(esult, banks fail t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 451.0277 426.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 414.9513 Tm -.005 Tc [(v)6.4(erify the identity of clients and/or fail t)9.8(o)0( anticipate)]TJ ET EMC /P <>BDC BT 9 0 0 9 455.4951 414.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 402.9513 Tm -.005 Tc [(the risk of illegal tr)19.5(ansactions such as mone)6.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 433.0185 402.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 390.9513 Tm -.005 Tc [(laundering, terr)9.8(orist funding or nancial fr)19.5(aud in)]TJ ET EMC /P <>BDC BT 9 0 0 9 442.1462 390.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 378.9513 Tm -.005 Tc [(newly established business r)9.3(elationships. In this)]TJ ET EMC /P <>BDC BT 9 0 0 9 444.9818 378.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 366.9513 Tm -.005 Tc [(domain, the compliance function could tak)9.8(e a mor)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 457.3744 366.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 354.9513 Tm -.005 Tc [(inuential r)9.8(ole in the fr)9.8(ont ocefor example, b)5.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 447.3373 354.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 342.9513 Tm -.005 Tc [(counseling ocers with r)9.3(egar)9.3(d t)9.8(o)0( the risk in doing)]TJ ET EMC /P <>BDC BT 9 0 0 9 451.4584 342.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 330.9513 Tm -.005 Tc (business with politically exposed persons. )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 198.9513 Tm [(The E)8.3(u)0(r)9.8(opean Union \(EU\) continues t)9.8(o)0( tighten)]TJ ET EMC /P <>BDC BT 9 0 0 9 434.6994 198.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 186.9513 Tm -.005 Tc [(mone)6.4(y-laundering r)9.3(egulations and r)9.3(ecommend new)]TJ ET EMC /P <>BDC BT 9 0 0 9 457.7994 186.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 174.9513 Tm -.005 Tc [(contr)9.8(ol measur)9.3(es; ther)9.3(efor)9.3(e, banks must comply)]TJ ET EMC /P <>BDC BT 9 0 0 9 445.5826 174.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 162.9513 Tm -.005 Tc [(not only with r)9.3(egional r)9.3(egulations, but also laws of)]TJ ET EMC /P <>BDC BT 9 0 0 9 452.1901 162.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 150.9513 Tm -.005 Tc [(extr)19.5(aterrit)9.8(orial origin and eff)11.7(ect. Banks struggle t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 450.8268 150.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 138.9513 Tm -.005 Tc [(enable their I)14.2(T)19.6( infr)19.5(astructur)9.3(e t)9.8(o)0( accommodate)]TJ ET EMC /P <>BDC BT 9 0 0 9 436.2935 138.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 126.9513 Tm -.005 Tc [(stricter laws and r)9.3(egulations that combat mone)6.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 446.0826 126.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 114.9513 Tm -.005 Tc [(laundering, nancial fr)19.5(aud and terr)9.8(orist funding.)]TJ ET EMC /P <>BDC BT 9 0 0 9 441.9408 114.9513 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 255.1448 102.9513 Tm -.005 Tc [(Banks need t)9.8(o)0( be adaptable, and compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 431.6165 102.9513 Tm 0 Tc ( )Tj ET EMC /Artifact <>BDC .72 .13 .67 .01 k /GS3 gs 255.145 215.47 347.915 104.257 re f EMC /P <>BDC BT 14 0 0 14 291.3909 290.1566 Tm 0 0 0 0 k .0351 Tc -.0175 Tw [(BANKS)17.5( )19.6(TH)-8.8(A)63(T)37.1( OPERA)63(TE)17.5( A)5.3(CROSS)]TJ ET EMC /P <>BDC BT 14 0 0 14 504.4194 290.1566 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 264.3909 272.1566 Tm .0351 Tc -.0175 Tw [(IN)14.1(TERN)-8.8(A)63(TION)-8.8(AL)17.5( GEOGRAPHIES)17.5( ARE)17.5( OF)-9.8(TEN)]TJ ET EMC /P <>BDC BT 14 0 0 14 558.5141 272.1566 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 264.3909 254.1566 Tm .0351 Tc -.0175 Tw [(CH)-8.8(ALLENGED)17.5( WI)14.1(TH)17.5( IN)-8.8(APPROPRI)-8.8(A)63(T)0(E)17.5( RISK)]TJ ET EMC /P <>BDC BT 14 0 0 14 546.5991 254.1566 Tm 0 Tc 0 Tw ( )Tj ET EMC /P <>BDC BT 14 0 0 14 264.3909 236.1566 Tm .0351 Tc -.0175 Tw [(BI)-8.8(AS)17.5( IN)17.5( ADDRESSING)17.6( FIN)-8.8(ANCI)-8.8(AL)17.5( RISK)17.5(.)]TJ ET EMC /Figure <>BDC Q q 1 i 527.222 244.596 23 -23.75 re W n .027451 .98039 .8 .003922 k /GS3 gs q 1 0 0 1 545.326 234.308 cm 0 0 m -.099 -2.881 -.579 -5.075 -1.441 -6.582 c -2.301 -8.089 -3.643 -9.223 -5.464 -9.985 c -3.279 -13.462 l -.265 -12.104 1.937 -10.101 3.328 -7.452 c 4.389 -5.464 4.918 -2.252 4.918 2.186 c 4.918 10.382 l -4.67 10.382 l -4.67 0 l 0 0 l h -12.64 0 m -12.739 -2.881 -13.219 -5.075 -14.081 -6.582 c -14.941 -8.089 -16.283 -9.223 -18.104 -9.985 c -15.919 -13.462 l -12.905 -12.104 -10.703 -10.101 -9.312 -7.452 c -8.251 -5.464 -7.722 -2.252 -7.722 2.186 c -7.722 10.382 l -17.31 10.382 l -17.31 0 l -12.64 0 l f Q EMC /Figure <>BDC Q q 1 i 261.338 315.582 23 -23.75 re W n .027451 .98039 .8 .003922 k /GS3 gs q 1 0 0 1 266.256 302.214 cm 0 0 m .099 2.881 .579 5.075 1.441 6.582 c 2.301 8.089 3.643 9.223 5.464 9.985 c 3.279 13.462 l .265 12.104 -1.937 10.101 -3.328 7.452 c -4.389 5.464 -4.918 2.252 -4.918 -2.186 c -4.918 -10.382 l 4.67 -10.382 l 4.67 0 l 0 0 l h 12.64 0 m 12.739 2.881 13.219 5.075 14.081 6.582 c 14.941 8.089 16.283 9.223 18.104 9.985 c 15.919 13.462 l 12.905 12.104 10.703 10.101 9.312 7.452 c 8.251 5.464 7.722 2.252 7.722 -2.186 c 7.722 -10.382 l 17.31 -10.382 l 17.31 0 l 12.64 0 l f Q EMC Q endstream endobj 30 0 obj << /ExtGState << /GS2 45 0 R /GS3 46 0 R >> /Font << /F1 47 0 R /F2 48 0 R /F3 49 0 R >> /ProcSet [/PDF /Text] >> endobj 31 0 obj << /Length 18977 >> stream /P <>BDC q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS2 gs BT /F1 1 Tf 7 0 0 7 414.6031 23.0228 Tm 0 0 0 1 k 0 Tc 0 Tw [( 2019 ISA)5.4(CA. All rights r)9.3(eser)-8.8(v)6.4(ed. )]TJ ET EMC /P <>BDC BT /F2 1 Tf 7 0 0 7 522.0879 23.0228 Tm [(www)60.6(.isaca.or)9.3(g)]TJ ET EMC /P <>BDC BT /F1 1 Tf 7 0 0 7 39.7789 24.9858 Tm [(ISA)5.4(CA )]TJ ET EMC /P <>BDC BT 7 0 0 7 61.2198 24.9858 Tm [(JOURN)-8.8(AL)]TJ ET EMC /P <>BDC /GS3 gs BT 7 0 0 7 92.1285 24.9858 Tm .73 .19 0 0 k [( V)6.4(OL 3)]TJ ET EMC /P <>BDC BT 7 0 0 7 13.2407 24.9858 Tm (6)Tj ET EMC /Artifact <>BDC 0 0 0 1 K 0 J 0 j .75 w 10 M [] 0 d /GS2 gs q 1 0 0 1 30.704 33.462 cm 0 0 m 0 -39.377 l S Q EMC /P <>BDC BT 9 0 0 9 142 631.2131 Tm 0 0 0 1 k -.005 Tc [(ocers must be suciently skilled t)9.8(o)0( nd)]TJ ET EMC /P <>BDC BT 9 0 0 9 305.6987 631.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 619.2131 Tm -.005 Tc [(oppor)-24.4(tunities for mitigating risk pr)9.8(oactiv)6.4(ely and)]TJ ET EMC /P <>BDC BT 9 0 0 9 328.4839 619.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 607.2131 Tm -.005 Tc [(r)9.3(emain compliant. Successful banks will dene and)]TJ ET EMC /P <>BDC BT 9 0 0 9 344.1152 607.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 595.2131 Tm -.005 Tc [(implement r)9.3(epeatable, manageable pr)9.8(ocesses that)]TJ ET EMC /P <>BDC BT 9 0 0 9 341.8805 595.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 583.2131 Tm -.005 Tc [(accommodate both international and countr)-8.8(y-)]TJ ET EMC /P <>BDC BT 9 0 0 9 142 571.2131 Tm [(specic r)9.3(equir)9.3(ements. )]TJ ET EMC /P <>BDC BT 9 0 0 9 142 547.2131 Tm [(Banks that oper)19.5(ate acr)9.8(oss international)]TJ ET EMC /P <>BDC BT 9 0 0 9 297.025 547.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 535.2131 Tm -.005 Tc [(geogr)19.5(aphies ar)9.3(e often challenged with inappr)9.8(opriate)]TJ ET EMC /P <>BDC BT 9 0 0 9 347.286 535.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 523.2131 Tm -.005 Tc [(risk bias in addr)9.3(essing nancial risk. Many banks)]TJ ET EMC /P <>BDC BT 9 0 0 9 334.6757 523.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 511.2131 Tm -.005 Tc [(prioritiz)7.8(e risk fact)9.8(ors r)9.3(elated t)9.8(o)0( the integrity of)]TJ ET EMC /P <>BDC BT 9 0 0 9 321.8944 511.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 499.2131 Tm -.005 Tc [(nancial information o)7.3(v)6.4(er oper)19.5(ational risk.)]TJ ET EMC /P <>BDC BT 9 0 0 9 308.2225 499.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 487.2131 Tm -.005 Tc [(Management views addr)9.3(essing nancial risk as its)]TJ ET EMC /P <>BDC BT 9 0 0 9 340.6929 487.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 475.2131 Tm -.005 Tc [(t)9.8(op priority)52.3(. Consequently)52.3(, nancial risk is assigned)]TJ ET EMC /P <>BDC BT 9 0 0 9 342.8718 475.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 463.2131 Tm -.005 Tc [(a higher pr)9.8(opor)-24.4(tion of risk-mitigation budget r)9.3(elativ)6.4(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 346.9886 463.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 451.2131 Tm -.005 Tc [(t)9.8(o)0( nonnancial risk. )]TJ ET EMC /P <>BDC BT 9 0 0 9 142 427.2131 Tm [(Conicts among r)9.3(egional and international)]TJ ET EMC /P <>BDC BT 9 0 0 9 309.688 427.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 415.2131 Tm -.005 Tc [(r)9.3(egulations and/or authorities can cr)9.3(eate a)]TJ ET EMC /P <>BDC BT 9 0 0 9 309.8749 415.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 403.2131 Tm -.005 Tc (challenging risk and compliance landscape for)Tj ET EMC /P <>BDC BT 9 0 0 9 325.3766 403.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 391.2131 Tm -.005 Tc [(lar)9.3(ger banks, which ma)7.3(y e)6.4(v)6.4(en be compelled t)9.8(o)0( fa)7.3(v)7.3(o)0(r)]TJ ET EMC /P <>BDC BT 9 0 0 9 345.6436 391.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 379.2131 Tm -.005 Tc [(one r)9.3(egulation o)7.3(v)6.4(er another)60.1(. F)10.3(or example, in E)8.3(u)0(r)9.8(ope,)]TJ ET EMC /P <>BDC BT 9 0 0 9 345.5492 379.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 367.2131 Tm -.005 Tc [(banks ma)7.3(y ha)7.3(v)6.4(e)0( t)9.8(o)0( choose between complying with)]TJ ET EMC /P <>BDC BT 9 0 0 9 345.0446 367.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 355.2131 Tm -.005 Tc [(the EU Gener)19.5(al Data Pr)9.8(otection Regulation \(GDPR\))]TJ ET EMC /P <>BDC BT 9 0 0 9 339.5284 355.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 343.2131 Tm -.005 Tc [(and P)5.4(a)7.3(yments Ser)-8.8(vices Dir)9.3(ectiv)6.4(e 2 \(PSD2\), also)]TJ ET EMC /P <>BDC BT 9 0 0 9 328.6232 343.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 331.2131 Tm -.005 Tc [(known as Dir)9.3(ectiv)6.4(e \(EU\) 2015/2366.)]TJ ET EMC /P <>BDC BT 5.4 0 0 5.4 283.6927 333.9131 Tm 0 Tc (4)Tj ET EMC /P <>BDC BT 9 0 0 9 286.68 331.2131 Tm -.005 Tc [( Banks ma)7.3(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 332.3289 331.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 319.2131 Tm -.005 Tc [(wonder which r)9.3(egulation stipulates f)11.7(ewer penalties?)]TJ ET EMC /P <>BDC BT 9 0 0 9 346.4247 319.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 307.2131 Tm -.005 Tc [(Accor)9.3(ding t)9.8(o)0( r)9.3(esear)9.3(chers, In eff)11.7(ect, a bank not 100)]TJ ET EMC /P <>BDC BT 9 0 0 9 343.2772 307.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 295.2131 Tm -.005 Tc [(per)9.3(cent cer)-24.4(tain about the pr)9.8(o)7.3(v)6.4(enance of a )19.5(TPP)]TJ ET EMC /P <>BDC BT 9 0 0 9 325.2624 295.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 283.2131 Tm -.005 Tc [(\(thir)9.3(d-par)-24.4(ty pr)9.8(o)7.3(vider\) r)9.3(equesting cust)9.8(omer data will)]TJ ET EMC /P <>BDC BT 9 0 0 9 341.9983 283.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 271.2131 Tm -.005 Tc [(need t)9.8(o)0( decide between declining the r)9.3(equest )]TJ ET EMC /P <>BDC BT 9 0 0 9 142 259.2131 Tm (\(and being noncompliant with PSD2\) or accepting )Tj ET EMC /P <>BDC BT 9 0 0 9 142 247.2131 Tm [(it and, if ther)9.3(e is a data br)9.3(each, becoming liable )]TJ ET EMC /P <>BDC BT 9 0 0 9 142 235.2131 Tm [(for a sanction of up t)9.8(o)0( 4 per)9.3(cent of global turno)7.3(v)6.4(e)0(r)]TJ ET EMC /P <>BDC BT 9 0 0 9 339.8934 235.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 223.2131 Tm -.005 Tc (under GDPR. As things stand, the outcome would)Tj ET EMC /P <>BDC BT 9 0 0 9 335.8126 223.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 211.2131 Tm -.005 Tc [(pr)9.3(esumably be t)9.8(o)0( risk noncompliance with PSD2)]TJ ET EMC /P <>BDC BT 9 0 0 9 332.6057 211.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 199.2131 Tm -.005 Tc [(and r)9.3(eject the r)9.3(equest.)83()]TJ ET EMC /P <>BDC BT 5.4 0 0 5.4 232.4937 201.9131 Tm 0 Tc (5)Tj ET EMC /P <>BDC BT 9 0 0 9 235.481 199.2131 Tm -.005 Tc [( As tr)19.5(anspar)9.3(ency and)]TJ ET EMC /P <>BDC BT 9 0 0 9 318.6356 199.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 187.2131 Tm -.005 Tc [(priv)7.3(acy r)9.3(eceiv)6.4(e incr)9.3(easing emphasis fr)9.8(om )]TJ ET EMC /P <>BDC BT 9 0 0 9 142 175.2131 Tm [(r)9.3(egulat)9.8(or)-8.8(y authorities worldwide, banks will oper)19.5(ate)]TJ ET EMC /P <>BDC BT 9 0 0 9 344.2483 175.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 163.2131 Tm -.005 Tc [(in a risk ecosystem of incr)9.3(easing complexity and)]TJ ET EMC /P <>BDC BT 9 0 0 9 333.7583 163.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 151.2131 Tm -.005 Tc (potential conict. )Tj ET EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 142 125.2131 Tm .72 .13 .67 .01 k (Conclusion )Tj ET EMC /P <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 142 107.2131 Tm 0 0 0 1 k [(Neither cybersecurity nor compliance functions ar)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 343.1957 107.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 142 95.2131 Tm -.005 Tc [(typically well positioned or)9.3(ganizationally t)9.8(o)]TJ ET EMC /P <>BDC BT 9 0 0 9 310.8 95.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 631.2131 Tm -.02 Tc [(inuence thinking and dir)9.3(ection at a str)19.5(ategic le)6.4(v)6.4(el.)]TJ ET EMC /P <>BDC BT 9 0 0 9 552.9076 631.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 619.2131 Tm -.02 Tc [(Consequently)52.3(, banks often lack a holistic view of risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 560.4487 619.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 607.2131 Tm -.02 Tc [(r)9.3(esulting fr)9.8(om imper)19.5(ativ)6.4(es ar)9.8(ound cybersecurity)52.3(,)]TJ ET EMC /P <>BDC BT 9 0 0 9 543.6473 607.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 595.2131 Tm -.02 Tc [(priv)7.3(acy and tr)19.5(anspar)9.3(ency)52.3(. Y)31.8(et, legal and r)9.3(egulat)9.8(or)-8.8(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 550.6837 595.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 583.2131 Tm -.02 Tc [(landscapes acr)9.8(oss the globe ar)9.3(e becoming mor)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 546.5472 583.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 571.2131 Tm -.02 Tc [(complexand not necessarily mor)9.3(e mutually)]TJ ET EMC /P <>BDC BT 9 0 0 9 531.3148 571.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 559.2131 Tm -.02 Tc [(consistent. As compliance risk emer)9.3(ges fr)9.8(om new)]TJ ET EMC /P <>BDC BT 9 0 0 9 551.5441 559.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 547.2131 Tm -.02 Tc [(technology)52.3(, pr)9.8(oducts and ser)-8.8(vices, the compliance)]TJ ET EMC /P <>BDC BT 9 0 0 9 552.7397 547.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 535.2131 Tm -.02 Tc [(risk ecosystem is also tr)19.5(ansforming r)19.5(apidly)52.3(. )19.5(The)]TJ ET EMC /P <>BDC BT 9 0 0 9 542.1223 535.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 523.2131 Tm -.02 Tc [(challenge for banks t)9.8(o)0( r)9.3(emain compliant has perhaps)]TJ ET EMC /P <>BDC BT 9 0 0 9 563.3134 523.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 511.2131 Tm -.02 Tc [(ne)6.4(v)6.4(er been mor)9.3(e complex and critical. Integr)19.5(ating)]TJ ET EMC /P <>BDC BT 9 0 0 9 548.5737 511.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 499.2131 Tm -.02 Tc [(r)9.3(egulat)9.8(or)-8.8(y changes with impacted internal policies)]TJ ET EMC /P <>BDC BT 9 0 0 9 551.9754 499.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 487.2131 Tm -.02 Tc [(will help t)9.8(o)0( identify impacted business domains. In)]TJ ET EMC /P <>BDC BT 9 0 0 9 552.6039 487.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 475.2131 Tm -.02 Tc [(addition, aut)9.8(omating workows and tasks t)9.8(o)0( trigger)]TJ ET EMC /P <>BDC BT 9 0 0 9 556.6863 475.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 463.2131 Tm -.02 Tc [(r)9.3(ele)6.4(v)7.3(ant r)9.3(esour)9.3(ces, i.e., people, pr)9.8(ocess and)]TJ ET EMC /P <>BDC BT 9 0 0 9 525.5853 463.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 451.2131 Tm -.02 Tc [(technology)52.3(, in impacted business domains that ar)9.3(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 554.0977 451.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 439.2131 Tm -.02 Tc [(integr)19.5(ated with internal policies will help t)9.8(o)0( achie)6.4(v)6.4(e)]TJ ET EMC /P <>BDC BT 9 0 0 9 553.2681 439.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 427.2131 Tm -.02 Tc [(adequate compliance le)6.4(v)6.4(els. Banks need t)9.8(o)0( maintain)]TJ ET EMC /P <>BDC BT 9 0 0 9 561.0852 427.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 415.2131 Tm -.02 Tc [(internal policies and r)9.3(ele)6.4(v)7.3(ant technology b)5.4(y)]TJ ET EMC /P <>BDC BT 9 0 0 9 524.5391 415.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 403.2131 Tm -.02 Tc [(integr)19.5(ating with v)7.3(arious r)9.3(egulations with which)]TJ ET EMC /P <>BDC BT 9 0 0 9 537.0905 403.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 391.2131 Tm -.02 Tc [(compliance is needed. )19.5(T)48.4(o)0( r)9.3(emain compliant, banks)]TJ ET EMC /P <>BDC BT 9 0 0 9 553.7195 391.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 379.2131 Tm -.02 Tc [(need t)9.8(o)0( design aut)9.8(omatic and continuous risk)]TJ ET EMC /P <>BDC BT 9 0 0 9 534.6202 379.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 367.2131 Tm -.02 Tc [(assessment workows that dr)19.5(aw the syner)9.3(gies)]TJ ET EMC /P <>BDC BT 9 0 0 9 540.0779 367.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 355.2131 Tm -.02 Tc (among the compliance polices, business domains)Tj ET EMC /P <>BDC BT 9 0 0 9 551.5175 355.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 343.2131 Tm -.02 Tc [(and their pr)9.8(ocesses, r)9.3(esour)9.3(ces \(people, technology\),)]TJ ET EMC /P <>BDC BT 9 0 0 9 558.5236 343.2131 Tm 0 Tc ( )Tj ET EMC /P <>BDC BT 9 0 0 9 360.5 331.2131 Tm -.02 Tc [(and r)9.3(egulat)9.8(or)-8.8(y r)9.3(equir)9.3(ements. \()]TJ ET EMC /P <>BDC BT /F3 1 Tf 9 0 0 9 475.278 331.2131 Tm [(gur)9.3(e 4)]TJ ET EMC /P <>BDC BT /F1 1 Tf 9 0 0 9 505.1359 331.2131 Tm (\).)Tj ET EMC /P <>BDC BT 9 0 0 9 510.2734 331.2131 Tm 0 Tc ( )Tj ET EMC /Artifact <>BDC 0 0 0 0 k /GS3 gs 358.369 90.77 206.684 223.926 re f EMC /Figure <>BDC Q q 1 i 358.494 314.696 206.559 -226.75 re W n 358.369 314.696 206.684 -226.75 re W n 358.369 314.696 206.684 -223.926 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n .14118 .027451 .13333 0 k /GS3 gs 358.494 90.72 206.525 198.461 re f .74118 .19608 .007843 0 k 358.494 289.181 206.525 25.515 re f 0 0 0 0 K 0 J 0 j 1.393 w 10 M [] 0 d q 1 0 0 1 358.369 289.181 cm 0 0 m 206.684 0 l S Q Q q 1 i 358.369 314.696 206.684 -226.75 re W n 358.369 314.696 206.684 -223.926 re W* n 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS3 gs BT /F6 1 Tf 9 0 0 9 375.5993 305.1451 Tm 0 0 0 0 k 0 Tc 0 Tw [(Figur)9.6(e).1( 4Conv)5.6(er)9.4(gence of Multiple Risk F)17.3(a).1(ct)14.7(ors)]TJ 2.5803 -1.1111 TD [(in the Compliance Risk E)8.1(c)0(osystem)]TJ ET .52157 .14902 .015686 0 k q 1 0 0 1 533.313 184.535 cm 0 0 m 0 -40.141 -33.213 -72.682 -74.184 -72.682 c -115.155 -72.682 -148.369 -40.141 -148.369 0 c -148.369 40.141 -115.155 72.682 -74.184 72.682 c -33.213 72.682 0 40.141 0 0 c f Q .023529 .34902 .50196 0 k q 1 0 0 1 431.879 171.335 cm 0 0 m -12.432 35.882 23.753 42.285 v 23.753 14.743 l 0 0 l f Q .27451 .15294 0 0 k q 1 0 0 1 458.01 213.62 cm 0 0 m 35.442 -1.481 24.584 -41.272 v .307 -27.9 l 0 0 l f Q .57647 .019608 .68235 0 k q 1 0 0 1 481.567 170.478 cm 0 0 m -19.131 -30.13 -48.902 -1.249 v -24.335 13.65 l 0 0 l f Q .23137 .070588 .015686 0 K 0 J 0 j 4.31 w 10 M [] 0 d q 1 0 0 1 428.401 169.658 cm 0 0 m -1.289 2.315 -2.305 4.805 -3.002 7.424 c -3.719 10.111 -4.101 12.936 -4.101 15.85 c -4.101 30.616 6.263 43.147 19.859 47.19 c S Q .23137 .070588 .015686 0 k q 1 0 0 1 447.967 212.269 cm 0 0 m 6.362 5.781 l -1.824 8.402 l 0 0 l f Q q 1 0 0 1 484.243 167.629 cm 0 0 m -5.832 -8.888 -15.884 -14.757 -27.307 -14.757 c -36.79 -14.757 -45.328 -10.712 -51.29 -4.254 c S Q q 1 0 0 1 437.188 165.11 cm 0 0 m -7.984 3.185 l -6.751 -5.322 l 0 0 l f Q q 1 0 0 1 456.936 218.144 cm 0 0 m 18.024 0 32.636 -14.612 32.636 -32.636 c 32.636 -36.28 32.038 -39.785 30.936 -43.057 c S Q q 1 0 0 1 484.318 177.974 cm 0 0 m 1.031 -8.534 l 7.907 -3.375 l 0 0 l f Q .16078 .05098 .019608 0 K 1.078 w q 1 0 0 1 400.788 229.434 cm 0 0 m 29.029 -22.684 l S 1 0 0 1 56.328 27.783 cm 0 0 m .894 -36.638 l S 1 0 0 1 57.879 -26.76 cm 0 0 m -30.334 -24.605 l S 1 0 0 1 14.187 -62.162 cm 0 0 m -38.253 9.719 l S 1 0 0 1 -39.61 -50.059 cm 0 0 m -16.318 35.893 l S 1 0 0 1 -63.2 1.073 cm 0 0 m 16.353 33.563 l S 1 0 0 1 -39.568 48.986 cm 0 0 m 35.518 8.283 l S Q .74118 .19608 .007843 0 K 1 J 2 j 8.621 w 4 M q 1 0 0 1 369.134 187.175 cm 0 0 m .669 .643 .594 31.03 16.106 51.935 c S Q .74118 .19608 .007843 0 k q 1 0 0 1 376.483 244.823 cm 0 0 m 15.853 -13.69 l 14.77 1.079 l 0 0 l f Q q 1 0 0 1 430.348 101.77 cm 0 0 m -.296 .876 -25.564 4.128 -37.536 24.803 c S Q q 1 0 0 1 383.97 120.975 cm 0 0 m 19.037 8.737 l 5.151 13.884 l 0 0 l f Q q 1 0 0 1 530.33 136.182 cm 0 0 m -.917 -.119 -9.073 -24.255 -31.698 -31.928 c S Q q 1 0 0 1 502.383 94.484 cm 0 0 m -4.825 20.383 l -12.601 7.78 l 0 0 l f Q q 1 0 0 1 536.187 231.894 cm 0 0 m -.142 -.908 12.955 -14.569 13.955 -37.078 c S Q q 1 0 0 1 560.58 195.99 cm 0 0 m -20.94 .461 l -10.701 -10.237 l 0 0 l f Q q 1 0 0 1 435.103 271.944 cm 0 0 m .841 -.386 17.435 10.524 40.692 4.608 c S Q q 1 0 0 1 477.673 286.864 cm 0 0 m -6.476 -19.919 l 6.719 -13.197 l 0 0 l f Q BT 6 0 0 6 381.4479 262.7872 Tm 0 0 0 1 k -.0003 Tc .0003 Tw (Compliance Risk)Tj .8836 -1 TD -.0006 Tc 0 Tw (Assessment)Tj 19.0268 1 TD -.0004 Tc .0004 Tw (Enterprise Risk)Tj .5842 -1 TD -.0006 Tc 0 Tw (Assessment)Tj -23.5144 -17.6757 TD -.0002 Tc [(Repor)-22.6(ting)]TJ 6.4655 0 0 6.4655 428.047 230.1207 Tm [(Legal)-3554.9(Cybersecurity)]TJ 2.7483 -14.7337 TD .0007 Tw (Local and)Tj -.6333 -1.0001 TD 0 Tc 0 Tw (International)Tj .1113 -.9999 TD -.0001 Tc (Legislations)Tj -8.1859 11.1149 TD -.0234 Tc [(An)-23.3(t)-24.2(i)-23.5(-)-23.9(M)-23.3(o)-23.4(n)-23.2(e)-17(y)]TJ .0843 -1.0001 TD .0001 Tc (Laundering)Tj 4.5 0 0 5 432.3322 189.6269 Tm -.0006 Tc [(T)43.6(e)-1.2(chnology)]TJ 7.2855 .36 TD -.0064 Tc [(Pe)-7(o)-6.2(p)-6.9(l)-5.5(e)]TJ 6.4655 0 0 6.4655 500.4508 192.4769 Tm .0002 Tc [(Priv)8.6(acy)]TJ -1.5136 -4.933 TD -.0004 Tc [(P)5.8(o)-.1(litical)]TJ -.6637 -1.0001 TD [(Uncer)-24.9(t).4(ainty)]TJ 1.5874 -.9998 TD .0003 Tc (and)Tj -1.6316 -1.0001 TD -.0002 Tc [(Go)7.5(v)6.3(ernance)]TJ -13.1921 2.0566 TD .0004 Tc [(KY)14.9(CKnow)]TJ -.7165 -1.0001 TD 0 Tc .0005 Tw [(Y)31.9(o).4(ur Cust)15.2(omer)]TJ 4.5 0 0 5 450.3019 165.4199 Tm -.0004 Tc 0 Tw [(Pr)18.3(ocess)]TJ 6 0 0 6 442.7423 94.6919 Tm -.0001 Tc .0001 Tw [(Internal A)6.6(u).2(dit)]TJ 15.6301 9.9652 TD -.0002 Tc 0 Tw [(Repor)-22.6(ting)]TJ ET EMC Q endstream endobj 32 0 obj << /ExtGState << /GS2 45 0 R /GS3 46 0 R >> /Font << /F1 47 0 R /F2 48 0 R /F3 49 0 R /F6 52 0 R >> /ProcSet [/PDF /Text] >> endobj 33 0 obj << /Length 6447 >> stream /P <>BDC q 1 i 0 783 603 -783 re 301.5 391.56 m W n .059998 783 603 -783 re W n /GS2 gs BT /F1 1 Tf 7 0 0 7 36.9471 23.0228 Tm 0 0 0 1 k 0 Tc 0 Tw [( 2019 ISA)5.4(CA. All rights r)9.3(eser)-8.8(v)6.4(ed. )]TJ ET EMC /P <>BDC BT /F2 1 Tf 7 0 0 7 144.4321 23.0228 Tm [(www)60.6(.isaca.or)9.3(g)]TJ ET EMC /P <>BDC BT /F1 1 Tf 7 0 0 7 488.5055 23.0228 Tm [(ISA)5.4(CA )]TJ ET EMC /P <>BDC BT 7 0 0 7 509.9464 23.0228 Tm [(JOURN)-8.8(AL)]TJ ET EMC /P <>BDC /GS3 gs BT 7 0 0 7 540.8551 23.0228 Tm .73 .19 0 0 k [( V)6.4(OL 3)]TJ ET EMC /P <>BDC BT 7 0 0 7 584.9167 23.0228 Tm (7)Tj ET EMC /Artifact <>BDC 0 0 0 1 K 0 J 0 j .75 w 10 M [] 0 d /GS2 gs q 1 0 0 1 570.156 31.289 cm 0 0 m 0 -39.376 l S Q EMC /P <>BDC /GS3 gs BT /F3 1 Tf 11 0 0 11 35 629.7131 Tm .72 .13 .67 .01 k -.005 Tc (Endnotes )Tj ET EMC /LBody <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 52.3635 611.7131 Tm 0 0 0 1 k [(The Basel Committee of Banking Super)-8.8(vision)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 230.3599 611.7131 Tm 0 Tc ( )Tj ET EMC /Lbl <>BDC /GS3 gs BT /F3 1 Tf 9 0 0 9 39.9999 611.7131 Tm .04 1 .83 0 k (1)Tj ET EMC /LBody <>BDC /GS2 gs BT /F1 1 Tf 9 0 0 9 52 599.7131 Tm 0 0 0 1 k -.005 Tc (denes 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EMC /LBody <>BDC BT 9 0 0 9 234.1769 539.7131 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 52 527.7131 Tm -.005 Tc [(its banking activities.)83( See Basel Committee on)]TJ ET EMC /LBody <>BDC BT 9 0 0 9 236.7633 527.7131 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 52 515.7131 Tm -.005 Tc [(Banking Super)-8.8(vision, )]TJ ET EMC /LBody <>BDC BT /F2 1 Tf 9 0 0 9 136.2126 515.7131 Tm (Compliance and the)Tj ET EMC /LBody <>BDC BT 9 0 0 9 213.498 515.7131 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 52 503.7131 Tm -.005 Tc [(Compliance F)10.8(unction in Banks)]TJ ET EMC /LBody <>BDC BT /F1 1 Tf 9 0 0 9 169.2214 503.7131 Tm (, Bank for)Tj ET EMC /LBody <>BDC BT 9 0 0 9 206.3229 503.7131 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT 9 0 0 9 52 491.7131 Tm -.005 Tc (International Settlements, April 2005,)Tj ET EMC /LBody <>BDC BT 9 0 0 9 197.5294 491.7131 Tm 0 Tc ( )Tj ET EMC /LBody <>BDC BT /F2 1 Tf 9 0 0 9 52 479.7131 Tm -.005 Tc [(https:/)109.4(/www)60.6(.bis.or)9.3(g/publ/bcbs113.pdf)]TJ ET EMC 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