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Architecture and infrastructure for governing information security in central banks

Author

Listed:
  • Kemal Hajdarevic

    () (Information Security Manager, Governor’s office, Central Bank of Bosnia and Herzegovina)

  • Kemal Kozaric

    () (Governor of the Central Bank of Bosnia and Herzegovina and a professor at the Faculty of Economics in Sarajevo)

  • Jasmin Hadzigrahic

    () (Senior Specialist for Applications Design and Maintenance, IT Department, Central Bank of Bosnia and Herzegovina)

Abstract

Everyday news reports reveal incidents and even largescale scandals in the business world related to improper information security handling. Despite available and existing relevant information security standards, incidents which could lead to real problems were not proactively prevented for numerous of reasons. One of the first and most important reasons was not implemented and observed relevant information security standards such as ISO 27001. This standard defines requirements for an organisation’s Information Security Management System (ISMS). Implementation of the ISMS is only the tip of the iceberg in managing information security since all system parts have to be well monitored and adjusted to prevent or minimize security risks. This process of monitoring and upgrading takes most of the resources dedicated to every ISMS. Standard such as ISO 27004:2009 which defines what has to be monitored also belongs to ISO 2700 series of standards. The ISO 27004:2009 standard does not define how measurement has to be done by using a specific kind of architecture and infrastructure for the Key Performance Indicator (KPI) measurement and monitoring. In this paper is presented holistic approach for implementing architecture and infrastructure to collect, analyse, and present information security KPIs, in order to achieve constant improvements of the ISMS. The same approach could be used for other business activities as well in central banks or other organisations.

Suggested Citation

  • Kemal Hajdarevic & Kemal Kozaric & Jasmin Hadzigrahic, 2012. "Architecture and infrastructure for governing information security in central banks," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 1(2), pages 5-17.
  • Handle: RePEc:cbk:journl:v:1:y:2012:i:2:p:5-17
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    Keywords

    Information Security; KPI; measurement;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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