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IS Governance Institute Announces Seminar on Operational Risk Ratings and Metrics on Information Security Governance and Identity Theft; Ineffective internal controls violate interconnected federal regulations.


The IS Governance Institute announces a free webinar on 9-15-08 on operational risk ratings and metrics on information security governance and identity theft per Basel II for 16,000 federally insured financial firms. The web seminar is being hosted by SourceMedia, publishers of American Banker and Credit Union Journal.

Failure of Boards to synchronize, measure and rate legal risk tolerances on information security to CAMELS compliance rating of 1 contribute to:

-- operational loss events per Basel II of fiduciary breaches, external fraud, business disruption and process management.

-- identity theft risks in the form of fake web sites, email-spam and phishing sites. These are Unfair Acts against consumers and violations of GLBA 501(b) as well as the new Identity Theft Red Flag Rules.

-- interconnected legal risks, including ineffective internal controls, with FDIC Act, NCUA Rules, Identity Theft Red Flag Rules, Sarbanes-Oxley, SEC Rule 13a-15f, and SEC Rule 10b-5.

-- capital charges per Basel II.

-- misrepresentations on the adequacy of internal controls impacting financial statements and capital market transactions.

Benefits of operational risk ratings, metrics and reports on information security governance include:

-- Transparency and peer analysis to help price risk on legal risks.

-- Synchronized compliance on 16 interconnected legal risks on information security that risk termination of federal deposit insurance with the CAMEL(S) compliance rating scale of 1 to 5 and Basel II.

-- A forward-looking, independent risk assessment on legal risk exposures that risk termination of federal deposit insurance.

-- Positive ROI through profit and capital efficiencies for firms that reach and maintain full compliance.

-- Customized Operational Risk Profile Reports on individual firms. These measure and rate legal risk exposures to the potential termination of federal deposit insurance. The reports are available through the American Bankerís Research Vault.

Operational Risk Ratings are the opinion of ISG Metrics LLC based on publicly available information as measured against the public standards, definitions and regulations of the federal banking regulators. Operational Risk Ratings are calibrated to match the CAMELS compliance rating scale.

There will be a free webinar on September 15, 2008 2pm-3pm ET.

For additional information visit and


 identity theft
 operational risk ratings
 information security
 Basel II

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