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For many continuity , risk, and resilience professionals, the last 2.5 AccountManagement. Thankfully, the wealth of resources that we have available to our customers along with the warmth and openness of our customer community truly makes my role as an AccountManager at Fusion unique.
A ccording to Deloitte’s global third party riskmanagement survey 2022 , 73% of respondents reported having a high level of dependency on third parties – a nd that reliance is predicted to continuously increase which , in turn, means ongoing related challenges.
They also emphasize the need for organizations to strengthen their business continuity (BC) and operational resilience programs as well as prioritize agility to mitigate emerging threats and ensure compliance with global regulatory mandates. The EU followed with the Digital Operational Resilience Act (DORA). Another U.S.
We are excited to announce Takeda Pharmaceutical Company as the first to achieve Diamond Tier status for the Best in Resilience™ Certification program. This designation recognizes Takeda for employing “best in class” Critical Event Management (CEM) processes and technologies to power organizational resilience.
Building resilience means looking to your North Star to anticipate, prevent, plan for, respond to, and learn from such unprecedented disruptions. As technology evolves, manufacturers need to ensure that their cyber resilience programs are adapting, evolving, and maturing while their investment in cyber resilience follows suit.
It’s Time for a New Model of Compliance Because a Resilient Organization is a Compliant One. And just like that, the first milestone on the Bank of England, Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) operational resilience regulatory timeline came and went. The Old Model of Compliance.
This concept has cascaded to new regulatory obligations such as operational resilience requirements in the UK which have provisions that require an appointment of a responsible individual in charge of the program who has ultimate accountability.
In today’s world, organizations face unprecedented challenges that require a new approach to resilience. Organizations that embrace, invest in, and elevate resilience as a strategic priority are able to more proactively sense issues, analyze vulnerabilities, and adapt to the evolving environment. million customers.
Operational resilience has been top of mind for regulators and financial services firms for the past few years. The old way of managingrisk and resilience programs is no longer effective or efficient, and regulators have taken note. The DORA centers around five principles that can lead to operational resilience.
There are even emerging regulatory requirements on the horizon such as the Digital Operational Resilience Act (DORA) that will extend regulatory reach to some technology and data service providers. Investing in Risk and Resiliency is the Right Thing to Do. Or, as so well articulated by the great British writer C.
I visited many organizations throughout 2022 and observed varying maturity levels in programs on their journey to addressing regulatory and policy requirements related to Operational Resilience. In 2023, we will continue to see more non-financial services companies adopt operational resilience concepts and frameworks.
Operational resilience is not just another buzzword. Resilience enables agility when confronted by the chaos of our present world , and it protects against the disruption of critical customer – facing operations. An Emerging Operational Resilience Standard for Data and Technology. Defining a Critical ICT.
For those of us in the resilience field, it was a common goal after disruption not to return to normal, but rather to a ‘new normal’: one where we had learnt from our mistakes and built a more robust operating model, possibly in a new direction of business. . The Return of the Resilience Industry.
With the twenty-four-month implementation period already underway, entities impacted by the Digital Operational Resilience Act (DORA) are beginning to implement best practices to drive compliance and operational resilience. It is important to recognize, however, that DORA is not simply a “check-the-box” compliance activity.
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. .
In this blog, we detail the latest innovations to Fusion’s operational resilience platform. Building more resilient operations is better when it’s visual, and Fusion’s Relationship Map visualization just got an upgrade. Please contact your Fusion accountmanager! Interested in learning more?
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. So, How Does Fusion Deliver its TPRM Solution?
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.
In today’s world, the resiliency of an organization isn’t solely determined by its own practices but rather by the collective of all the partners, vendors, and suppliers that the organization leverages. To learn more about our SecurityScorecard connector, please reach out to your Fusion AccountManager for a demo.
In this blog, we detail the latest innovations to Fusion’s operational resilience platform. Fusion is further embracing our integrated approach to resiliency and facilitating easier ways for users to build unified disaster recovery strategies to adapt to evolving challenges and protect organizations from the adverse effects of disruption.
Is Risk Intelligence Necessary? Following the compounding crises that have taken place over the last few years, I think we can all agree that a strong third-party riskmanagement (TPRM) program foundation is critical for effective identification of inherent and imposed risks. How is Risk Intelligence Beneficial to TPRM?
If you are trying to break down the silos within your organization, are interested in learning more about riskmanagement , or just need a refresher, the risk assessment process is a great place to start. Want to learn more about how Fusion can help improve your risk assessment process?
Organizations are constantly exposed to potential threats, so being able to successfully manage your responses to them is critical. To ensure organizational resilience in the face of disruption, Fusion® has enhanced its Dynamic Planning and Response capability.
With this in mind, it’s becoming increasingly important that organizations look at climate change and natural disaster preparedness not just from an ESG (environmental, social, and governance) perspective but also from an operational resiliency one. appeared first on Fusion RiskManagement. Are their generators elevated?
The Digital Operational Resilience Act (DORA) aims to ensure financial and operational resilience for individual businesses as well as ensure economic stability for the European Union (EU) as a whole. Another common challenge is misalignment across teams (38% reported this in our webinar) in regards to resilience capabilities.
When an organization understands the business context, resources that support critical functions, and related cybersecurity risks, it can focus and prioritize its riskmanagement strategy and business needs. Accountmanagement. Access control management. Continuous vulnerability management.
billion people across the globe, putting communities and the businesses they support at risk. As severe weather continues to threaten more people and cause greater harm, building resilience against natural hazards and climate threats is paramount: the time for governments and enterprises to act is now. Severe Weather Trends.
Business impact analyses (or “BIAs” for short) are a fundamental part of any organization’s business continuity and resilience programs. To learn more about how Fusion can help improve your BIA process, contact your AccountManager or request a demo today!
The best way to improve hurricane response is to recall lessons learned from previous events and improve on those to become more resilient in the future. Request a demo with Fusion today or reach out to your Fusion AccountManager to ensure you have all proper programs in place. appeared first on Fusion RiskManagement.
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