The Financial Services Roundtable

Main banner Flash

2008 Annual Report Roundtable Fact Book U.S. Financial Competitiveness Mega Catastrophe Blue Ribbon Commission Reports 2007 Legislative and Regulatory Year in Review 2004- 2005 Community Involvement Survey About the Cluff Fund

Federal Home Loan Bank Modernization GSE Regulatory Reform Homeownership Preservation HMDA Response RESPA Response Uniform National Financial Standards Other Issues

Community Service 2008

Membership Meetings Policy Committees Operational Committees Councils Roundtable Calendar Member Publications

Media submenu Flash

PRESS RELEASE

For Immediate Release
Contact: (202) 589-2427
Ann Patterson, (202) 589-2448

BITS Publishes Paper on Enterprise Key Management

Washington, D.C. – May 6, 2008 – BITS released a paper on Enterprise Key Management, covering a range of business issues and processes related to implementing controls for an enterprise-wide encryption key management program. The paper provides a general framework
for financial services companies to consider when developing their key management program.

As financial institutions protect increasingly more data with encryption, strong key management practices can enhance both the security and the cost-effectiveness of their programs. “This paper represents an opportunity not only for BITS member institutions-- but all financial
institutions-- to leverage best practices around encryption and associated key management,” stated Tom Doughty, Vice President and Chief Information Security Officer at Prudential Financial, and Chairman of the BITS Security Steering Committee. The paper was developed under the direction and guidance of the BITS Security Steering Committee and other BITS member companies.

The paper discusses critical success factors for an enterprise-wide program, offers examples to build into an enterprise’s key management program, and addresses practical implementation issues associated with encryption and key management. Please click here (http://www.bitsinfo.org/p_publications.html#SRA) for the publication.

The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior
executives nominated by the CEO. Roundtable member companies provide fuel for America's economic engine, accounting directly for $65.8 trillion in managed assets, $1 trillion in revenue, and 2.4 million jobs. BITS is the technology division of the Roundtable, leveraging intellectual
capital to address issues at the intersection of financial services, operations and technology. BITS focuses on strategic issues where industry cooperation serves the public good, such as critical infrastructure protection, fraud prevention, and the safety of financial services.

###