HDIP-01.2 Assignment Report: Digital Transformation in Irish Financial Services

Brief:

You are the Head of Compliance for a well established authorised business in Ireland
(choose from payment, retail, investments, insurance, lender or any other authorised
sector)
Your Board is currently discussing a full digital transformation programme so they can
take advantage of new technologies and systems that aim to make the business more
efficient and open up new markets (Crypto, DLT Tokens, Digital currencies etc.).
While considering this move they have requested that you prepare a report that will
discuss the changes happening in the digital space currently.

They have asked you to report on the following areas
● Risks involved in changing systems
● Oversight and Governance of the new ways of conducting business
● How the new systems will affect Vendor Contracting
● What upgrades and changes will need to be made to Information Security and
● Changes required to ensure policies and procedures adhere to CBI regulations.
They have also asked for actionable recommendations to ensure that this process can
be integrated into the current operation seamlessly and to highlight any areas of concern.

Additional Information

• https://www.centralbank.ie/regulation/digital-operational-resilience-act-%28dora%29
• https://www.centralbank.ie/regulation/markets-in-crypto-assets-regulation
• https://www.centralbank.ie/publication/consultation-papers/cp138—consultation-on-cross-industry-guidance-on-outsourcing
• European Digital Identity – European Commission
• Shaping Europe’s digital future – European Commission

Guidance:

● See ‘Assignments’ section on your Hdip Info Page – Jan 2025
● Students are required to independently research and reference their written report.
Students can choose to complete their report in groups (max 3).
● Findings must be submitted in a ‘professional’ report format with the appropriate referencing. We encourage the use of tables and graphs in the report.
○ AI use should be referenced and the questions asked included in the document.
○ Do not use AI to reword or reduce the word count of your assignment.
○ For more guidance on the use of AI please refer to the AI policy.
○ Inappropriate use of AI is not tolerated and will result in an academic disciplinary meeting.
● You can submit DRAFT Assignments via Cirrus for written feedback or have scheduled a
20-minute one-to-one discussion on the content/layout of the report. A link will be provided as part of this process.
● Draft assignments must be submitted for review by Tuesday 15th April 2025 to allow
time for feedback. All feedback will be provided by Friday 18th April 2025 . Please do not
leave draft submission to the last date as this will cause delays in its provision.

The assignment due date is 30th April 2025. If you require an extension, the faculty should be notified at the latest Tuesday 15th April 2025..
In extenuating circumstances where the student requires an extension closer to the assignment closer to the due date, these will be looked at on a case-by-case basis. Indicative Word Count:
+/- 1.500 – does not include referencing, content tables or graphics Indicative Marking Scheme:
30%: Quality of research – range of sources
70%: Quality of written report – logical flow, presentation of arguments, referencing