CHAPTER 13: CONNECTING THE DOTS

Between the poles

The subprime mortgage crisis in 2008, possessed the hallmarks of a systemic risk: underlying interdependencies swirl to produce a series of cascading failures for an entire system, rather than any one singular entity. Held captive by sheer magnitude, we marvel at how seemingly unrelated elements spaced apart by time and space can interact to reach catastrophic proportions.

When it comes to the design of IT controls to mitigate risk, however, we rarely place any emphasis on visualizing, let alone assessing interconnections. Even the label IT can be misleading; for some of us, it conjures up system programming, or anything and everything to do with technology. Interconnections hold no regard for ...

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