Answer:
There is no one size fits all answer. There are variables as to the skillsets of your personnel, the size of your institution, the complexity of each department, etc. The CIO may have other duties is also not always the best to oversee Security. That often falls on the COO.
The important issue is how will each arrangement work for your bank? Choose the best fit and recognize there is always crossover in duties.
First published on BankersOnline.com 10/3/11