Michael Versace

Global Research Director

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Michael Versace is a Global Research Director at IDC Financial Insights, focusing on the global risk business and technology marketplace.  The global risk research and advisory service covers credit, market, and operational risk management strategies in retail and corporate banking, cash and treasury management, payments, insurance, securities and investment services.  With a team of analysts in all key global technology markets, the worldwide Risk practice is used by financial institutions to make mission-critical decisions on their investments in a variety of risk technologies and advises providers of these technologies on strategies for success in the market.  Mr. Versace also serves as the Financial Services industry lead on the maturity and adoption of Big Data and Analytics technologies.

Mr. Versace contributes to the FinTech blog in the IDC Financial Insights Community (http://idc-insights-community.com/financial). His Twitter handle is @versace57.

His 25 year career in financial services has included extensive interactions with central bankers, financial services agencies, corporate and retail banks, investment firms, and the risk technology communities at both an enterprise and industry level.  As a risk management practitioner, consultant, industry representative, and analyst, Mr. Versace has the background and experience to bridge a wide range of business and technology challenges facing today’s global risk managers and technology executives.

Mr. Versace's experience is drawn from the investment services and banking sectors through positions with Fidelity Investments, the Federal Reserve Banks, including a program of financial infrastructure innovation lead by the United States Treasury Department Financial Management Service, and BayBanks.  At Fidelity investments, Michael was a Director in Corporate Risk Oversight office, responsible for various risk and control activities of the institutional investment and brokerage services, transfer agent, management fee operations, and for Fidelity strategic investment companies. 

At the Federal Reserve Banks, Mr. Versace was part of nationwide leadership team responsible for the design and launch of FEDNET and FedACH, the Federal Reserve Banks payments network and central clearing and settlement hub.  While at the Fed, he also founded and directed the Emerging Payments System office, working with the United States Treasury, commercial banks, and technology companies to design and prototype Internet and electronic money systems and related risk management policies, rules, and standards.

As a management consultant for ZEFER, NEC Global Financial Services, and PwC (formally Coopers and Lybrand), Mr. Versace advised clients and led financial solutions design in a variety of risk disciplines, including cash and working capital management, B2B e-commerce, and cyber security.

Mr. Versace holds a B.S. in Accounting and Finance from Bentley University, Waltham, Massachusetts, and is a certified information security professional (CISSP).  Through his career, he has held several level industry positions, including Managing Executive with the Financial Services Technology Consortium (“FSTC”), Chairman of ISO Technical Committee on Information Security for Financial Services, Board member of the Accredited Standards Committee X9, and Advisor to the NACHA Internet Council.  Mr. Versace is currently on the Board of the Information Systems Security Association (“ISSA”) in Boston, and contributing member to IBM’s Information Governance Council.

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Research Authored by Michael Versace

From GRC to Enterprise Risk: Perspectives from the Asian Financial Services Congress 2013 Michael Versace Apr 2013 - Doc # FIN240771    Insights Presentation This IDC Presentation, delivered at the 9th annual IDC Financial Insights' Asian Financial Services Congress in Singapore in March 2013, presents the big idea of taking a broader view of GRC by placing it in the context of enterprise risk m... purchase document

Business Strategy: Turning the Page on Big Data Analytics — A Blueprint for Value Creation Michael Versace Apr 2013 - Doc # FIN240366    Business Strategy This IDC Financial Insights report describes the Big Data Analytics (BDA) Maturity Model framework that identifies the stages, critical measures, outcomes, and actions required for companies to effectively develop BDA competency. This matur... purchase document

Pivot Table: Worldwide IT Spending 2013–2017 — Worldwide Risk IT Spending Guide, 1H13 Michael Versace,  Karen Massey Mar 2013 - Doc # FIN240400    Pivot Table This IDC Financial Insights Pivot Table provides an updated forecast for worldwide risk IT spending for 2013–2017. Overall worldwide IT spending in risk technologies and services continues to grow but at a lower compound annual growth rate ... purchase document

Methods and Practices: Telematics-Based Insurance — Promises, Risks, and Realities Joe Barkai,  Michael Versace,  Li-May Chew Mar 2013 - Doc # MI240380    Methods and Practices This IDC Manufacturing Insights report explores the application of telematics usage-based automobile insurance (UBI). Usage-based insurance is based not only on traditional metrics such as the type of vehicle used and driver's age and drivi... purchase document

IDC Maturity Model: Big Data and Analytics — A Guide to Unlocking Information Assets Dan Vesset,  Michael Versace,  Greg Girard,  Adelaide O'Brien,  Cynthia Burghard,  Jill Feblowitz,  Debra Osswald,  Simon Ellis Mar 2013 - Doc # 239771    Industry Development and Models This IDC study describes IDC's Big Data and Analytics (BDA) Maturity Model framework that identifies the stages, critical measures, outcomes, and actions required for companies to effectively develop BDA competency. As evidence of the compe... purchase document

Pivot Tables: IDC Financial Insights' Worldwide Financial Solutions Market Share and Forecast Guides, 2013 Scott Tiazkun,  Aaron McPherson,  Karen Massey,  Michael Versace Mar 2013 - Doc # FIN239763    Pivot Table This IDC Financial Insights Pivot Table presents two pivot table worksheets for:Solution-specific vendor revenue for the top worldwide banking vendors for 2011Market forecasts for the individual solutions through 2016Solutions covered inclu... purchase document

Building a Big Data and Analytics Road Map for Business Value Dan Vesset,  Michael Versace Mar 2013 - Doc # DR2013_T1_DV_MV    Event Proceeding The following was presented at the IDC Directions conferences in Santa Clara and Boston in March 2013.

Business Strategy: Asia/Pacific CRO Survey — Risk Management in the "New Normal" Environment Li-May Chew,  Michael Versace Feb 2013 - Doc # FIN239279    Business Strategy This IDC Financial Insights report delineates key findings from the recent IDC Financial Insights' CRO Survey from the Asian financial services institutions. Findings were aggregated from 40 CROs and their deputies across 11 Asia/Pacific na... purchase document

IDC Predictions 2013: Chief Risk Officers — A New Dialogue with IT and the CIO Michael Versace,  Jill Feblowitz,  Shawn P. McCarthy,  Scott Lundstrom,  Greg Girard,  Simon Ellis,  David Potterton Feb 2013 - Doc # 239293    IDC Presentation This IDC Presentation highlights trends in the business environment and how 3rd platform innovations are driving this maturing relationship between risk managers and the technology environments they operate within. This Presentation also sp... purchase document

Pivot Table: Worldwide IT Spending 2012–2017 — Worldwide Banking IT Spending Guide, 1H13 Update Karen Massey,  Michael Versace Jan 2013 - Doc # FIN239224    Pivot Table This IDC Financial Insights Pivot Table provides an updated forecast for worldwide banking IT spending for 2012–2017. Overall worldwide IT spending is growing, with a 4.9% compound annual growth rate (CAGR) over the forecast period — howeve... purchase document

3rd Platform Regulations Move from Cloud to Social Media Michael Versace,  Michael Fauscette Jan 2013 - Doc # lcUS23920513    IDC Link On January 24, the Federal Financial Institutions Examination Council (FFIEC) released a set of draft guidelines to its supervision base on the operational risks associated with the use of social media in client/customer interactions. The d...

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