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For many continuity , risk, and resilience professionals, the last 2.5 It seems like the world keeps finding new and interesting ways to start burning – from pandemic to supply chain issues, cybersecurity threats , wildfires, hurricanes , and a multinational war. AccountManagement. years have been… yikes.
The recent announcement of the official end of the COVID-19 pandemic makes this a good time to review the five types of risk. During COVID, business tended to focus on only two of the five risk types; however, organizations that want to prosper over the long term need to be cognizant of and plan for all five kinds of risk.
We’ve been living in a compound crisis since the start of the pandemic – we have been experiencing global political instability, war, an increase in cyber and ransomware attacks, labor shortages, shortages of critical commodities, etc.
Third – party riskmanagement (TPRM) continues to be a focus area for both regulated and non-regulated entities alike in the operational resilience landscape. The reason being that t hird parties often introduce added risk to organizations outside the scope of their direct control. .
AccountManagement. One of our essential customer-facing teams at Fusion is our AccountManagement team. From the customer’s very first interaction with their AccountManager, our team has resources available to assist the client throughout every aspect of their journey with Fusion – no matter what the need or topic.
The idea behind having an effective third-party riskmanagement (TPRM) program is not a newfound concept. More than 14 years ago, the Federal Deposit Insurance Corporation (FDIC) introduced the first true risk-based approach to understanding and managing third parties. Rinse and repeat.
Since the pandemic’s start, the world has continued to demonstrate that disruption is happening and only increasing in frequency and complexity. The old way of managingrisk and resilience programs is no longer effective or efficient, and regulators have taken note. RiskManagement.
The digital financial transformation was accelerated largely because of the pandemic and exacerbated many of the cyber threats that previously existed. Start with a risk assessment to determine how or if the DORA will affect your business as a covered financial entity or TSP . Supplying real-time insight into third-party ICT risk .
Resilience professionals looked like they had gone nine rounds with Mike Tyson; after a year of early mornings and late nights responding to the pandemic, followed by a year racing to ensure compliance with the new OpRes policy, most of us were running on empty. .
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