Understanding cyber complexity: Systems modeling and the financial services sector
Recent developments within the financial services sector have demonstrated that as the diffusion of cyber enabled technologies increases, so too does dependency on a cyber infrastructure susceptible to failure, outages, and attacks. While current efforts are underway to introduce new methodologies a...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | en_US |
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© Massachusetts Institute of Technology
2022
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| Online Access: | https://hdl.handle.net/1721.1/141760 |
| _version_ | 1826191131078033408 |
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| author | Goldsmith, Daniel Siegel, Michael |
| author_facet | Goldsmith, Daniel Siegel, Michael |
| author_sort | Goldsmith, Daniel |
| collection | MIT |
| description | Recent developments within the financial services sector have demonstrated that as the diffusion of cyber enabled technologies increases, so too does dependency on a cyber infrastructure susceptible to failure, outages, and attacks. While current efforts are underway to introduce new methodologies and techniques to manage risks, particularly localized risks (such as those at a particular firm), developing resiliency at the system level requires transformative thinking to increase collaborative situational awareness, improve our understanding of risk, foster strategic coordination, and define actionable plans at the sector level to address pervasive sector-wide risk. The overall goal of this research is to develop innovative management and operational approaches using experts and emerging data sets available from the financial services industry along with simulation-driven technologies to enable real-world implementation of high- leverage opportunities to promote financial services resiliency. |
| first_indexed | 2024-09-23T08:50:43Z |
| format | Working Paper |
| id | mit-1721.1/141760 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T08:50:43Z |
| publishDate | 2022 |
| publisher | © Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1417602022-04-08T03:38:25Z Understanding cyber complexity: Systems modeling and the financial services sector Goldsmith, Daniel Siegel, Michael Recent developments within the financial services sector have demonstrated that as the diffusion of cyber enabled technologies increases, so too does dependency on a cyber infrastructure susceptible to failure, outages, and attacks. While current efforts are underway to introduce new methodologies and techniques to manage risks, particularly localized risks (such as those at a particular firm), developing resiliency at the system level requires transformative thinking to increase collaborative situational awareness, improve our understanding of risk, foster strategic coordination, and define actionable plans at the sector level to address pervasive sector-wide risk. The overall goal of this research is to develop innovative management and operational approaches using experts and emerging data sets available from the financial services industry along with simulation-driven technologies to enable real-world implementation of high- leverage opportunities to promote financial services resiliency. This material is based on work supported by the U.S. Office of Naval Research, Grant No. N00014-09-1-0597. Any opinions, findings, conclusions or recommendations therein are those of the author(s) and do not necessarily reflect the views of the Office of Naval Research. 2022-04-07T17:41:33Z 2022-04-07T17:41:33Z 2010-02 Working Paper https://hdl.handle.net/1721.1/141760 Goldsmith, D., & Siegal, M. (2010). Understanding cyber complexity: Systems modeling and the financial services sector (ECIR Working Paper No. 2010-2). MIT Political Science Department. en_US ECIR Working Paper No. 2010-2 Attribution-NonCommercial-NoDerivs 3.0 United States http://creativecommons.org/licenses/by-nc-nd/3.0/us/ application/pdf © Massachusetts Institute of Technology |
| spellingShingle | Goldsmith, Daniel Siegel, Michael Understanding cyber complexity: Systems modeling and the financial services sector |
| title | Understanding cyber complexity: Systems modeling and the financial services sector |
| title_full | Understanding cyber complexity: Systems modeling and the financial services sector |
| title_fullStr | Understanding cyber complexity: Systems modeling and the financial services sector |
| title_full_unstemmed | Understanding cyber complexity: Systems modeling and the financial services sector |
| title_short | Understanding cyber complexity: Systems modeling and the financial services sector |
| title_sort | understanding cyber complexity systems modeling and the financial services sector |
| url | https://hdl.handle.net/1721.1/141760 |
| work_keys_str_mv | AT goldsmithdaniel understandingcybercomplexitysystemsmodelingandthefinancialservicessector AT siegelmichael understandingcybercomplexitysystemsmodelingandthefinancialservicessector |