Abstract
Information System (IS) risk management implementation is a program that enables an organizations capture, manage and analyses the risks that are peculiar to IS adoption in a secure system. By implementing IS risk management organizations can improve operation efficiencies and save cost of risk investment. Meanwhile, bank is an institution that relies heavily on information technology for the network of business activities therefore; there is need to be aware of various risks associated with the usage of information system such as criminal threat and natural disasters. The present study examines the effect of perceived critical success factors for information system risk management implementation in the bank sector. Data were obtained from top executives of the selected banks using questionnaire instrument. The study employed descriptive correctional research design. The study population comprises of banks located in Oyo State South- Western part of Nigeria. Overall, 30 banks were selected for the study with four respondents from each bank. The questionnaire was pre-tested prior to actual distribution to the respondents. SPSS software was employed as analytical tool to test the study hypotheses using correlation and multiple regression analysis. Three factors were employed in the study; organization culture, organization structure and trust. The finding revealed that only organization culture was perceived to be positive critical factor for IS risk management implementation in the bank sector, while organizational structure and trust are in weak positions. Therefore, culture as an internal factor should be given priority in IS risk management implementation in the bank sector.
Highlights
The development and advancement in the recent usage of information system (IS) that promotes automation and computerization of various aspects of business processes had exposed businesses to high level of risk and uncertainty [1]
This study developed the objectives of investigating organisation culture, organisation structure and trust as perceived critical success factors for IS risk management implementation
The construct on IS risk management data indicate goodness of fit (GoF) value to be equal to 70% (0.7) this is in proportion with the required validity and reliability of the construct
Summary
The development and advancement in the recent usage of information system (IS) that promotes automation and computerization of various aspects of business processes had exposed businesses to high level of risk and uncertainty [1]. In the process of integrating IS into business operations and performance management makes organizations liable of exposure to various types of hardware, software, and human factor risks, as a result of this businesses are facing different types of risk at one time or the other causing loss of money and sometimes permanent cessation of business operation [2]. To develop, improve and maintain IS an organization need to be proactive in managing the risks that are associated with it. Every organization needs to build a performance strategy to achieve its establishment objective. Critical Success Factor (CSF) is one of those components employed by the organization in achieving those objectives. CSF as a concept was developed [4] the concept became fully established between the period of 1979 to 1981 and it was been applied to the study of different business organizations to date [5]
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