Bank of America CIO Says Simplification and Risk Reduction Are Keys to IT Success
CIO - Catherine Bessant's journey to the CIO role at Bank of America wasn't your standard ascent through the ranks of IT. Bessant, now Global Technology and Operations Executive, leads a team of more than 100,000 employees and contractors who handle all technology and operations for the giant financial institution. But prior to tackling IT, Bessant was president of Global Corporate Banking, Global Treasury Services and the Global Product Solutions groups. She's also served as chief marketing officer for the bank.
In this installment of the IDG Enterprise CIO Interview Series, Bessant spoke with IDG Enterprise's Chief Content Officer John Gallant about the advantages--and challenges--of being a non-technologist leading IT. She also discusses the lessons she's learned from navigating Bank of America's super-sized acquisitions.
In addition, the oft-honored Bessant talked about her team's bold plan to simplify dramatically the IT environment and its goal to reduce risk through design, aggressive training and more. A lover of Shakespeare, Bessant also explains what lessons the Bard holds for IT leaders everywhere.
"To business that we love we rise betime and go to it with delight."
William Shakespeare, "Anthony and Cleopatra"
Q: The last couple of years have been really tough for the banking industry, and I think people would be fascinated to know what, as CIO, was your role and strategy to help Bank of America through this challenging period?
A: Through any challenging period like this it takes several fundamentals. It takes great data, so that companies working through challenges can make good decisions. I hate the term "big data" so I'm not going to use it. But in any time of challenge, it is the CIO's job to make sure that no stone is left unturned in terms of the quality of data and the comprehensiveness of data, and its usefulness in the firm.
To continue reading, register here to become an Insider
It's FREE to join
- 15 Non-Certified IT Skills Growing in Demand
- How 19 Tech Titans Target Healthcare
- Twitter Suffering From Growing Pains (and Facebook Comparisons)
- Agile Comes to Data Integration
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
Changing the Way Government Works: Four Technology Trends that Drive Down Costs and Increase Productivity
This paper discusses four technology-based approaches to improving processes and increasing
productivity while driving down department and agency costs.
- Aberdeen Group: Marketing Analytics for Manufacturing: Forging Customer Insights There are no recalls for poor marketing. Manufacturers need to get their customer intelligence and messaging right the first time. Learn how.
- The Brave New World of Customer-Centric Manufacturing The Unique Opportunity for Manufacturers to Better Understand their Consumers
- See the Possibilities Utilizing Data Visualization Do you simply want to collect data, or do you want to derive business insights from it? What if you could quickly and...
- Meg Whitman presents Unlocking IT with Big Data During this Web Event you will hear Meg Whitman, President and CEO, HP discuss HAVEn - the #1 Big Data platform, as well...
- The New Way to Work Knowledge Vault This Knowledge Vault focuses on how, in today's increasingly virtual world, it's more important than ever to engage deeply with employees, suppliers, partners,... All IT Industry White Papers | Webcasts