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