An Information Technology Policy Portfolio for the Credit Bank: Management Essay

An Information Technology Policy Portfolio for the Credit Bank
Mohamed, A. TIM 7040
Northcentral University
An Information Technology Policy Portfolio for the Credit Bank
Introduction
The current business environment requires that companies embrace new technologies alongside modern ways of working. The level of business competitiveness largely depends upon the nature of technological alignment. Notably, there is a growing consumption as well as the creation of information through mobile devices. This has completely changed the manner in which individuals use as well as share information. The employees are identified with spending more time using their personal devices, especially on social networks, sharing information such as files, which calls for ways through which data security and preservation could be safeguarded alongside the privacy of the users (Maizlish & Handler, 2005).
The Bank’s technology leadership plays an important role in the entire process, however, their efforts require enforcement by the executives representing different business aspects. In this case, the aspect that involves collective decision-making processes results in executive buy-in that is crucial in driving more business value supported by technology investments. However, there is a high probability of policy enforcement falling short in cases where the organization lacks appropriate tools necessary for the monitoring and management compliance of the bank policies (Maroofi, 2016).
A new process for creating, storing, approving, modifying, and retiring policies in the new repository
In this organization, the various policy documents required are stored within the version control in a document management system. This provides the capability of maintaining a revision history for every document. The bank has a manual identification scheme that is capable of distinguishing draft from those that are baselined versions as well as major revisions from those considered minor revisions. The IT document management process provides an ideal and easy management of policy documents. In this case, it makes it possible for the content to be reviewed with the assurance of being preserved and content archived on appropriate media storage component (Parry & Lind, 2016).
The record management policy of the bank provides directions for the management of the organization’s business records. These entail records inventory and classification, retention scheduling, records storage and conversion, vital records program, disaster prevention, and recovery and finally disposition (Parry & Lind, 2016).
Roles and Responsibilities
Consider who will have oversight, who will need to be involved in the process, and who are the stakeholders.  Remember that when designating accountable resources, only mention the role or job title, not incumbents (Parry & Lind, 2016).
Executive Management Function
This entails an individual or group such as board members, CEO, CIO within the bank. The responsibilities, in this case, entail but not limited to:
* Definition of a holistic approach towards addressing Information Technology risks across the entire organization
* Development of the bank’s IT management strategy
* They support the aspect of information sharing amongst stakeholders and senior management
* Overseeing IT management-related activities across the bank
Information Security Architect
This is an individual or a group with the responsibility of ensuring that security on information as required is ideal in protecting the bank’s core mission and business process. This is made possible in all aspects of the enterprise architecture, segments as well as solution models. The responsibilities include but not limited to the following:
* Providing the link between the enterprise architect and the information technology engineer
* Coordination of the system stakeholders and common control providers as well as system security
How and when communication will occur
The effective communication structure with an appropriate perspective on the big picture will observe the effect of investments within different departments. This makes it easier for the aspect of prioritizing investments accordingly. Various aspects of technology have presented business organizations with challenges such as data security and business management. The information will be shared with stakeholders through file-sharing services and social media alongside mobile devices. This will happen after final approval by the board of directors. However, one of the most complicated issues concerns people’s issues. In this case, the various employees will be tempted to perform what comes naturally in the absence of clearly articulated policies. Additionally, there is a need for effective enforcement of governance policies that ensure governance of behavior. In this case, the idea of effective Information Technology (IT) governance provides one of the cross-functional activities that require a unified vision as well as collective commitment for enforcement to take place (Wilkin et al., 2016).
Addressing the legal, ethical, and regulatory concerns
The various goals of governance entail the setting of decision rights as well as accountability alongside the establishment of policies aligned to business goals. Such an objective would help in the improvement of the value of the enterprise. The other goal entails balancing the technology investments that are generally approved by the budget in line with policies and in support of business objectives to achieve the strategy. The establishment of various measures that possibly monitor the level of adherence to policies and mitigation of risk through the alignment of processes and behaviors. These are aligned to conform to the general bank policies. Ultimately, the goal that guarantees employees the freedom to use IT resources in compliance with the organization’s policies (Parry & Lind, 2016).
The nature of staff required by the company to ensure the fulfillment of the bank’s functions depends on the rate of changes as experienced in the IT department. Effective governance requires that employees operate under some clearly defined guidelines (Parry & Lind, 2016).
* IT plan integration with strategic planning across other functions
* Desired accountability levels on all IT i...