New CBN Regulation on IT Standards

Philip Keshiro, DRI Nigeria

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The Central Bank of Nigeria has just released an IT Standards Blueprint Final document for the financial service industry. The IT standards will not stop with the banks but will also include other financial sectors such as Pension, Insurance and others as times go on.

The document presents the IT Standards that have been defined and agreed by Banks’ CIOs. For each defined standard, the documentation includes the objective and intention, description, minimum acceptable maturity level, derivable benefits, requirements for compliance, and consequences for deviations.

The IT Standards provide expected industry practices in respect of:

– Enterprise IT Architecture

– Process architecture

– Systems integration/ Interoperability

– Network/ Communications

– Data Centre Infrastructure

Adoption and compliance to the defined standards will improve IT leverage and significantly enhance operating efficiency and cost effectiveness of Banks. The impact of the IT Standards in Bank operations will include improvements in:

  • Processing
  • Up time and availability
  • Service quality
  • Enterprise Control and Management
  • Risk Management and Assurance
  • Regulatory reporting
  • Business Continuity

Expected Impacts and Benefits

Implementation of these standards is expected to provide the following benefits:

  • Increased up-time / availability of Banks leading to increased cost savings
  • Establishment of a reference point for objective assessment of the IT function leading to improved IT performance measurement
  • Improved data integrity and electronic information exchange
  • Increased efficiency and productivity of staff due to interoperability of IT systems
  • Business Continuity / Recovery and reduced risk of prolonged downtime
  • Improved data security assurance to customers leading to increased customer confidence

Implication:  

Years back, Business Continuity (part of the IT standards) was taken as a nice-to-have concept, now it has now become a standard for IT, this means that IT professional must brace up and get professional certification to be recognized and to carry out their work with confidence to meet the standard.

Opportunities abound for the IT professional

  1. The knowledge of Business Continuity Planning is not restricted to IT alone, it is a management course that will not restrict owners of the certification to IT.
  2. The knowledge does not restrict you to any sector of the economy. BCP principles that can be used in ANY sector of the economy.
  3. BCP knowledge can be applied to manage real disaster; to mitigate respond and recover..
  4. Getting certified helps you to progress in your chosen career.
  5. There are very few people in Nigeria with BCP certification
  6. The demand for people with this special skill is increasing daily.
  7. BCP certification and knowledge can help you in your post employment years.

Where we come in:  

We represent DRI International in Nigeria, Ghana and Cote D’ivore.

DRI is a non-profit organization committed to:

  • Promoting a base of common knowledge for the continuity management industry
  • Certifying qualified individuals in the discipline of Business Continuity
  • Promoting the credibility and professionalism of certified individuals
  • DRI is the industry’s premier education and certification program body.
  • DRI International has certified people in over 100 Countries.
  • DRI International conducts training courses in over 50 countries.
  • More individuals choose to maintain their certification through us than all other organizations in our industry combined.
  • DRI International certifies and teaches in ten languages.

DRI COLLABORATIONS :

 Government Organizations

  • Chaired the Alfred P. Sloan Committee that drafted the Framework for Preparedness that has been the foundation for the Title IX Implementation.
  • Member U.S. Chamber of Commerce Homeland Security Task Force
  • Member of the Council of Experts for ANSI-ANAB who will set the credentialing standard for certifying bodies for PS-Prep
  • Member of FEMA National Advisory Council Private Sector Subcommittee
  • Member of Advisory Committee for Congressionally funded Project for National Security Reform

Non-Government Organizations

  • Member of the NFPA 1600 Technical Committee
  • Member of the BS25999 – ASIS Technical Committee
  • Participant RIMS (Risk Insurance Managers Society) PERK (Professional Exchange of Risk Knowledge) Program
  • Cooperative Education Credit Sharing with ISACA (Information Systems Audit and Control Association)
  • Cooperative Education Credit Sharing with (ISC)2 – (International Information Systems Security Certification Consortium, Inc.)
  • Audit Course Development and Training for Auditors with NFPA (National Fire Prevention Association)
  • Meeting with Special Assistant to The President for Homeland Security Standards Policy
  • Chairman of Safe America Drill Down for Safety

** APEC (Asia Pacific Economic Cooperation) has endorsed DRI’s (Disaster Recovery Institute International) CBCP (Certified Business Continuity Professional) and MBCP (Master Business Continuity Professional) certifications into their Information Security Certification Guide Book.  The DRII’s 10 Professional Practices is mapped onto the ISO17799 & FIPS200.  APEC has 21 Member Economies which account for more than one third of the world’s population (2.6 billion people), over 50% of world GDP (US$ 19, 254 billion) and in excess of 41% of world trade.  APEC also proudly represents the most economically dynamic region in the world having generated nearly 70% of global economic growth in its first 10 years.

APEC’s 21 Member Economies :

Australia; Brunei Darussalam; Canada; Chile; People’s Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; NewZealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Vietnam. This creates the largest global recognition of any BCP Certification in the world.

DRI CERTIFICATION RESPECTED WORLDWIDE

A holder of DRI certification is automatically requested by other BCP institutes i.e BCI for membership without any form of examination. For DRII, it is compulsory for holders of other Institute to take DRI examination.

Course Fees

Our course fees is very moderate, almost half of what will be paid if taken outside the country or by other institutes.

DRI President to Speak on UAE Crisis Management February 25th

DRI International is proud to announce its involvement with the 5th Crisis & Emergency Management Conference 2014, a two-day event held in Abu Dhabi on the 25th and 26th of February and designed to raise awareness and educate the national crisis management community of the UAE and GCC. DRI President Al Berman will be one of the guest speakers.

Under the session theme “Preventive Prediction, Not Impromptu Confrontation,” Berman will discuss the role of business continuity and supply chains in responding to a disaster.

The conference is hosted by the United Arab Emirates National Emergency Crisis and Disasters Management Authority.

Date: Wednesday, February 25 and Thursday, February 26
Time: 9:30 a.m. – 1:10 p.m. (Wed); 9:00 a.m. – 2:15 p.m. (Thurs)
Location: Abu Dhabi, United Arab Emirates

Istanbul Business Continuity Forum

DRI Istanbul is proudly hosting its first Business Continuity Forum in Turkey!  Participants will be able to:

  • Learn from, and meet face-to-face with industry experts.
  • Network and share best practices with colleagues from commercial, industrial, and institutional work environments.
  • Participate in comprehensive discussions and explore relevant case histories.
  • Apply best practices and recovery strategies presented within your own company.
  • Collaborate with your peers and industry experts in an exclusive, intimate setting.
  • Earn valuable DRI Continuing Education Activity Points (CEAPs).

“We’re extremely excited to bring our premier business continuity conference to Istanbul, Turkey,” said DRI International President Al Berman. “It’s one of the world’s greatest cities with a rich history and is home to many excellent continuity programs. Our DRI2014 Istanbul conference agenda is full of stimulating and insightful presentations and discussions.”

We hope to see you there!