Insight

Don’t ignore technology risks in COVID-19 response

Technology risk teams can play a critical role in ensuring companies’ technology and operational resiliency

Vivek Mehta

Vivek Mehta

Partner, Technology Risk Management, KPMG US

+1 212-872-6548

Nicole Lauer

Nicole Lauer

Principal, Technology Risk Management, KPMG US

+1 410-949-8949

Joshua Galvan

Joshua Galvan

Principal, Technology Risk Management, KPMG US

+1 713-319-2082

Beth A. McKenney

Beth A. McKenney

Principal, Technology Risk Management, KPMG LLP

+1 313 230 3406

As businesses respond to the rapid spread of the COVID-19 virus, their technology capabilities are being stretched to the limit, increasing organizations’ exposure to an array of existing or emerging technology risks.

Technology risk functions, including all technology roles in the company (CIO, CTO, CISO, IT Risk, IT Audit, etc.), must quickly focus and engage to manage during this dynamic situation, bringing critical value to the business in driving an effective and risk-informed response. Government actions to impose “social distancing” have forced more people than ever to use remote access and alternative working arrangements to do their jobs or transact their personal business. This spike in access to companies’ networks is creating immediate challenges and risks for companies.

Responsibly helping technology teams to resilience, recovery, and a new reality

In managing through the COVID-19 response and beyond, many companies can follow a model resembling “resilience, recovery, and a new reality.” Right now, many are making progress through the “resilience” phase, taking immediate steps to address employee safety and business operational concerns. Soon, companies will recover and  stabilize operations around potential ongoing conditions for weeks (if not months) to come. Based upon reliable signals, companies will eventually develop plans and emerge to a new reality of business operations playing a role in the economic rebound.

Discover more on issues and challenges technology risk teams will face as they move through the three stages of resilience, recovery, and a new reality, and recommendations for how they can manage these issues successfully.

COVID-19: Responsibly managing technology risks today and beyond
As businesses respond to the rapid spread of the COVID-19 virus, their technology capabilities are being stretched to the limit, increasing organizations’ exposure to an array of existing or emerging technology risks.

 

 

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