There are significant challenges in ensuring the ongoing well‐being of any Organization. These challenges are further complicated due to the significant pace of change in technology, poor or no knowledge transfer, ability to retain key staff and the ensuing skills gaps. Throw into the mix global disruptive businesses/technologies, competition and cyber security threats and the problem get compounded.

Are we approaching these problems in a sensible manner that take into account all the issues above and many more? Or do we continue to do what we have always done with some incremental changes? Is that approach going to ensure our well‐being and ensure our competitiveness and security? Evidence suggests that we could and must do a lot better. We need to re‐think our approach. The good news is that it can be done. You will hear from someone who has led in this field in the global environment and has dealt with complex issues. He continues to innovate in this area.

 

Bashir Fancy is the Managing Director, Corporation Solutions & Services Inc., providing Risk Management, Governance, Security, Operations, IT consulting services and Internal Audit globally. He is also the current Chairman of Canadian Information Processing Society (CIPS) –National Board. CIPS was formed 58 years ago to oversee IT Industry in Canada and in fact represents Canada in the world on IT Matters and has the backing of the legislation. He also is the Vice President of CIPS Ontario.

Mr. Fancy has held position of Senior Executive Advisor, with Deloitte & Touche and also assisted Grant Thornton in similar position.

Prior to that, Mr. Fancy served as the Executive Vice President for Risk Management & Security at Visa International and was also the Global Head of Internal Audit for Visa based out of San Francisco. He was key part of developing the “Account Information Security” –Data Security Standards (now known as PCI‐ DSS), impacts anyone that stores, processes or transmits credit/debit card transactions. This standard is intended to prevent data breaches, ensuing fraud, costs and brand damage. Bashir Fancy, as the Head of Risk Management & Security for Visa Canada, developed & implemented a strategy that led to 50% reduction in fraud losses, after a growth of 40% per year for 5 previous years. This strategy was adopted globally for Banks issuing Visa Cards.

Mr. Fancy assists financial institutions globally including the World Bank, Telecoms, Retail businesses,
Governments and others, to deal with the root causes and become secure, efficient and compliant. He has excellent background at both working and executive level in the Payments, Retail, Airline Industry, 3rd Party processing and the Banking world that spans many countries.

Mr. Fancy held senior management positions that included Systems, Operations, Systems, Finance, Risk management, Internal Audit, Marketing & Sales and strategy in Organizations that included Visa international (Visa Inc.), Citibank, SNS (became known as Emergis, now absorbed into TELUS) – 3rd party card processor and effectively the back office managing point of sale for Canadian Banks and major retailers. His other roles included senior management role in Air Canada and the “Supermarket Group”, after starting his career to pursue CA at West, Wake & Price (Auditors) –became part of Price
Waterhouse.
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