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Management Strategies

01:00 PM
John Soat, Former Executive Editor,
John Soat, Former Executive Editor, "CIOs Uncensored," InformationWeek (a TechWeb property)
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CIOs Add Product Development and Project Management to Responsibilities

John Soat
The obvious challenge facing bank CIOs is security. Next there's the challenge of doing more with less: IT budgets at financial firms are under pressure, particularly in terms of hiring IT people. But the biggest challenge for bank CIOs is to come up with new products. CIOs at financial institutions are under increasing pressure to help with new product development and to cultivate new revenue streams.

Financial institutions are giving their CIOs more responsibilities, especially in terms of operations. That means financial CIOs have to hone their operations skills and become more involved and expert in process and project management.

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