Authors :
Dr. Akhilesh Kumar
Volume/Issue :
Volume 10 - 2025, Issue 7 - July
Google Scholar :
https://tinyurl.com/5yn7k72u
Scribd :
https://tinyurl.com/3euvajn6
DOI :
https://doi.org/10.38124/ijisrt/25jul774
Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.
Note : Google Scholar may take 30 to 40 days to display the article.
Abstract :
As digital innovations reshape banking and financial services, the risks associated with cyber threats have become
increasingly complex and interwoven with institutional operations. Traditional cybersecurity strategies, though technically
robust, often function in isolation from enterprise-level risk oversight mechanisms. This disconnect has led to vulnerabilities
that threaten financial stability, data integrity, and customer confidence. This paper presents a strategic model that aligns
cybersecurity initiatives with Enterprise Risk Management (ERM) systems, ensuring a harmonised approach to risk
governance. By analysing regulatory expectations, organisational structures, and operational dynamics, the research
outlines an integrated pathway to embed cybersecurity into the enterprise risk ecosystem. The framework is designed to
foster proactive decision-making, strengthen compliance, and enhance institutional resilience. Case illustrations from both
global and Indian financial institutions are included to support practical implementation. The paper concludes that
integration of cybersecurity into ERM is not only a best practice but a business imperative in the evolving digital economy.
Keywords :
Cyber Risk, ERM Integration, Financial Services, Banking Security, Governance, Information Assurance, Resilience, Digital Risk, Risk Framework, Strategic Cybersecurity.
References :
- Basel Committee on Banking Supervision. (2021). Principles for Operational Resilience.
- Reserve Bank of India. (2016). Cyber Security Framework in Banks.
- National Institute of Standards and Technology. (2018). Cybersecurity Framework Version 1.1.
- ISO/IEC 27005. (2018). Information Security Risk Management.
- Gartner. (2022). Top Cybersecurity Trends for Financial Services.
- EY. (2021). Global Information Security Survey: Financial Services Insights.
- World Economic Forum. (2022). Global Cybersecurity Outlook.
As digital innovations reshape banking and financial services, the risks associated with cyber threats have become
increasingly complex and interwoven with institutional operations. Traditional cybersecurity strategies, though technically
robust, often function in isolation from enterprise-level risk oversight mechanisms. This disconnect has led to vulnerabilities
that threaten financial stability, data integrity, and customer confidence. This paper presents a strategic model that aligns
cybersecurity initiatives with Enterprise Risk Management (ERM) systems, ensuring a harmonised approach to risk
governance. By analysing regulatory expectations, organisational structures, and operational dynamics, the research
outlines an integrated pathway to embed cybersecurity into the enterprise risk ecosystem. The framework is designed to
foster proactive decision-making, strengthen compliance, and enhance institutional resilience. Case illustrations from both
global and Indian financial institutions are included to support practical implementation. The paper concludes that
integration of cybersecurity into ERM is not only a best practice but a business imperative in the evolving digital economy.
Keywords :
Cyber Risk, ERM Integration, Financial Services, Banking Security, Governance, Information Assurance, Resilience, Digital Risk, Risk Framework, Strategic Cybersecurity.
