Digitalisation is a moving target for both enterprises in the financial sector and for the supervisory authorities. In the past few years, we as a supervisory authority have responded to the increased significance of IT-related risks and specified our requirements more clearly. However, the topic also affects our day-to-day supervisory work. Our supervisors’ jobs have become more challenging.
And this is not just down to the rate and number of tasks to be performed but also to their complexity. Ten years ago, IT-related supervisory standards were fairly manageable. Nowadays, specialisation within this risk category is playing an increasingly important part. Knowledge of IT risks needs to be updated constantly.