Along with IT skill and knowledge, CIOs should have enhanced ability to understand markets, competition and vision to make economic advantages


By MYBRANDBOOK


Along with IT skill and knowledge, CIOs should have enhanced ability to understand markets, competition and vision to make economic advantages

Balakrishnan A
Executive Director - Geojit Financial Services

 

Responsibilities of the CIO
CIO works very closely with the CEO and spearheads the implementation of the vision of the organisation and mission of the CEO.

 

While IT skill and knowledge have paramount importance, CIOs should have enhanced ability to understand markets, competition and vision to make economic advantages.

 

Key priorities for 2021
The key priorities are:
●   Introduction of RPA in all the areas where redundant manual work involved
●   Enhancement of self service
●   Also based proactive Transactions management
●   Improve BCP

 

Adopting Work-From Anywhere
Being into financial services, customer profile data, portfolio etc. are extremely confidential and critical. There are areas in which we have never thought of remote management. Regulation was not allowing to access data from outside, closed and protected networks.
Overcoming many traditional and constrained regulations was done with collective efforts of industry. Regulators also acted fast.
Acceleration of digitisation of onboarding, subsequent services and risk management helped us to continue the business as market demands
There are times only 20 people were on-premise and the remaining 3000 employees worked remotely.
Enhanced security, increased the frequency of DR drills and made application device agnostic.

 

Redesigning IT & Security strategy
During the period we have done a comprehensive gap analysis by a competent agency. Recommendations are getting implemented at a faster pace. Multiple interactions of VAPT done as many of our colleagues work from home. Special audit of WFH infrastructure was executed.

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