Information technology resources are considered as an important pillar in terms of relative size and impact on the bank’s ability to run its operations and thus achieve its objectives, considering information as one of the basic resources for all bank operations, and it also plays a critical role in influencing the competitiveness of the bank’s products and services and on decision-making and risk management mechanisms. The role of information technology governance has been developed as a tight and integrated system that ensures the effective use of information technology resources to achieve the strategic goals of information technology, which in turn is reflected in the implementation of the strategic goals of the bank.
Accordingly, work has been done to follow best practices and standards in managing information technology resources to implement the concept of information technology governance by implementing the (COBIT 2019 - Control Objective for Information and Related Technology) framework, which is considered as a comprehensive framework that helps the bank to reach its goals and achieve the added value from information technology by maintaining a balance between achieving benefits (Benefits Realization) and reducing the level of risks and managing them in line with the bank’s overall risk management processes, after ensuring the application of the principle of segregation of duties and roles and their proper distribution between the Board of Directors and the executive management.
Information technology governance in Jordan Kuwait Bank focuses on many basic operations such as human resources management, resources provision, change management, financial management, quality management, information security management, establishing effective organizational structures, separating job roles and responsibilities, and managing and monitoring performance using balanced scorecards to monitor These operations and other major operations.
The COBIT 19 IT framework enables the total application of governance and management to all business units in Jordan Kuwait Bank, in other words covering all business, IT functions and responsibilities in the bank.