LogisManager

MAY 9, 2023

Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. However, the evidence was inconclusive so their strategy continued unchanged.

Banking 98

Banking Risk Management Management Corporate Governance 98

Reciprocity

OCTOBER 8, 2024

Risk management is arguably the most effective way to navigate uncertain circumstances. That said, not everyone can handle the time and resource commitments associated with traditional risk management processes. If this is you, building an automated risk management program may be the wiser course.

Risk Management 52

Risk Management Cybersecurity Management Alert 52

Reciprocity

OCTOBER 8, 2024

Risk management is arguably the most effective way to navigate uncertain circumstances. That said, not everyone can handle the time and resource commitments associated with traditional risk management processes. If this is you, building an automated risk management program may be the wiser course.

Risk Management 52

Risk Management Cybersecurity Management Alert 52

FS-ISAC

NOVEMBER 8, 2021

But these approaches rely on tenets based on traditional operational and financial risk management. While “close enough” works in asset management for financial inventory, it can quickly prove useless in cybersecurity. To avoid becoming a headline tomorrow, we must practice adversarial risk management.

Risk Management 59

Risk Management Management Audit Asset Management 59

Behavior Group

SEPTEMBER 27, 2017

Cyber Insurance Data breaches have led enterprises to invest more in cybersecurity programs. Keith Moore, CEO (…), believes that consumers increasingly will take cybersecurity into their own hands and purchase cyber insurance policies. The post Understanding Cyber Insurance appeared first on Behaviour Portugal.

Insurance 52

Insurance Insurance Cybersecurity Security 52

Reciprocity

NOVEMBER 5, 2021

Hence cyber insurance has become a lucrative product for insurance companies, and a must-have for businesses that want to offset the costs of attack-inflicted damage. What Is Cyber Insurance and Why Do You Need It? Cyber insurance costs can vary due to a number of factors. What You Need to Know About Cyber Insurance.

Insurance 52

Insurance Insurance Management Internet 52

LogisManager

MAY 20, 2021

Colonial Pipeline Hack: Failure in Risk Management. That’s why insurance premiums are increasing exponentially for those organizations that cannot provide evidence of an effective ERM program that has strong controls and a robust Incident Response program. Colonial Pipeline Hack: Introduction. Colonial Pipeline, a major U.S.

Risk Management 64

Risk Management Management Authentication Hospitality 64

Reciprocity

MARCH 24, 2022

Vendor risk management (VRM), a part of vendor management, is the process of identifying, analyzing, monitoring, and mitigating the risks that third-party vendors might pose to your organization. Third-party risk management begins with due diligence before signing a contract, as with any risk management program.

Risk Management 52

Risk Management Management Audit Cybersecurity 52

Pure Storage

JANUARY 11, 2024

Five Takeaways for Financial Services Firms from EU’s DORA While the UK OR regime is a tough one, the EU’s Digital Operational Resilience Act (DORA) is the most comprehensive and prescriptive approach to OR and cybersecurity from any global regulator. The management, accessibility, and protection of data must be a central focus of any plan.

Resilience 117

Resilience Financial Services Banking Cybersecurity 117

Reciprocity

MARCH 28, 2022

Enterprise risk management is critical for business success. The fundamental components of ERM are evaluating significant risks and applying adequate responses. Additional important ERM components are risk philosophy or strategy, risk culture, and risk appetite. Two ERM Must-Haves.

Risk Management 52

Risk Management Management Mitigation All-Hazards 52

Reciprocity

AUGUST 18, 2022

Enterprise risk management (ERM) is critical for success in the modern business landscape. Your ERM program should encompass all aspects of risk management and response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters.

Risk Management 52

Risk Management Management Mitigation Strategic 52

Solutions Review

DECEMBER 12, 2024

In an era defined by rapid innovation and heightened cybersecurity threats, staying ahead requires insights from those who build, implement, and innovate at the cutting edge of these technologies. This heightened accountability is set to redefine service contracts and risk management strategies.

Vulnerability 52

Vulnerability Cybersecurity Malware Audit 52

Reciprocity

NOVEMBER 5, 2021

Here’s where enterprise risk management (ERM) comes in. It helps you manage, minimize, and in some cases eliminate risks, to keep your organization safe and in business. Enterprise risk management is a holistic, disciplined approach to identifying, addressing, and managing an organization’s risks.

Risk Management 52

Risk Management Management Audit Strategic 52

NexusTek

OCTOBER 25, 2023

Similarly, if other parties in your ecosystem have lax security, they place your business at risk—even if your own cybersecurity is excellent. Managing Cyber Risk in Your Business Ecosystem To effectively manage cyber risk in our digital world, you need to evaluate not only your own cybersecurity posture but third parties’ as well.

Cybersecurity 105

Cybersecurity Evaluation Vulnerability Risk Management 105

Risk Management Monitor

MARCH 4, 2022

Concerns about escalating cyber activity around the crisis are a vivid reminder of the importance of knowing your threat model and adjusting your risk management priorities accordingly. For example, given the tragic events and breaking developments around the conflict, many may be glued to news or social media. “In

Management 56

Management Malware Cybersecurity Insurance 56

Zerto

MARCH 5, 2025

By functioning as a standardized blueprint, they outline the best practices to approach risk management and help businesses maintain resilience in the face of growing threats. The National Institute of Standards and Technology provides one of the most widely recognized cybersecurity frameworks. NISTs CSF 2.0

Cyber Resilience 52

Cyber Resilience Security Disaster Recovery Resilience 52

Solutions Review

SEPTEMBER 27, 2021

The Best Governance, Risk, and Compliance Software. Description: Apptega is a cybersecurity and compliance management platform that makes it easy for users to access, build, manage, and report their cybersecurity and compliance programs. Fusion Risk Management. Platform: LogicGate Risk Cloud.

Government 92

Government Audit Risk Management Hospitality 92

Fusion Risk Management

NOVEMBER 3, 2022

Adjacent to resilience obligations, many global regulations in the cybersecurity and data protection space contain provisions for cooperation with investigation and breach notification requirements. Circling back to third-party risks, fines for violating sanctions can range from $90,000-$1.5 In the U.S.,

Resilience 96

Resilience Mitigation Cybersecurity Risk Management 96

Security Industry Association

SEPTEMBER 20, 2022

Last week the Department of Homeland Security (DHS) announced a joint effort between the Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Emergency Management Agency (FEMA) to provide new cybersecurity grants authorized and funded under the Bipartisan Infrastructure Law.

Cybersecurity 52

Cybersecurity Telecommunications Authentication Government 52

MHA Consulting

MARCH 23, 2023

By adhering to the council’s guidelines, companies can implement best practices for risk management, cybersecurity, data protection, and business continuity planning. The FFIEC standard can be found here, and it’s completely free. Does trying to meet the rigorous FFIEC standard make sense for every organization?

BCM 95

BCM Impact Analysis Business Continuity Banking 95

Reciprocity

APRIL 4, 2022

Although people often use the words “assess” and “analyze” interchangeably, the terms are not synonymous in risk management. A risk assessment forms the backbone of your overall risk management plan. Security risks aren’t the only type of risk that organizations face.

All-Hazards 95

All-Hazards Mitigation Risk Management Hazard 95

Risk Management Monitor

FEBRUARY 2, 2023

To that end, the National African American Insurance Association (NAAIA) recently updated its research on its members’ experiences and challenges in the insurance industry, releasing the new study The Next Steps on the Journey: Has Anything Changed? financial literacy, wealth creation or cybersecurity).

Insurance 40

Insurance Insurance Activation Evaluation 40

Fusion Risk Management

SEPTEMBER 12, 2022

Yes, there are some aspects of technology and data protection that fall within the parameters of privacy and cybersecurity laws. A recent study by OCEG indicates that operational risk programs are viewed as unnecessary overhead by business units. Or, as so well articulated by the great British writer C.

Resilience 52

Resilience Insurance Insurance Outsourcing 52

BMC

DECEMBER 5, 2024

These frameworks offer philosophies and tangible paths forward to improve cost and resource management, measure risk, speed up customer service, and innovate analysis through predictive methods. Short for Control Objectives for Information and Related Technologies, COBIT was first developed to guide IT governance and management.

Audit 52

Audit Government Technology Security 52

Reciprocity

MARCH 3, 2025

Schedule a demo to see how ZenGRC can strengthen your healthcare vendor risk management program. When third-party vendors gain access to PHI, that trust extends to them as well, making robust vendor risk management not just a regulatory requirement, but an ethical imperative.

Healthcare 52

Healthcare Management Risk Management Audit 52

Reciprocity

SEPTEMBER 30, 2022

Such valuable data creates immense cybersecurity risks in healthcare. Third parties generate, manage, or hold this data, resulting in even more severe threats to healthcare organizations and their information security. This is why third-party risk management and healthcare data security are critical. Access to PII.

Healthcare 52

Healthcare Management Vulnerability Risk Management 52

Reciprocity

APRIL 4, 2022

So it is for houses and buildings – and the same principle is just as true for cybersecurity. Hence cybersecurity risk management is crucial to prevent and mitigate cyber threats. To combat those threats, businesses need to develop digital risk management. What is Digital Risk Protection?

Mitigation 52

Mitigation Malware Cybersecurity Media 52

Reciprocity

AUGUST 24, 2022

The various niches of risk management have become a veritable alphabet soup of acronyms. As a result, we now have: Enterprise risk management (ERM). Governance, risk management, and compliance (GRC). Integrated risk management (IRM). The advent of the digital age is partly to blame.

Risk Management 52

Risk Management Audit Insurance Insurance 52

everbridge

DECEMBER 19, 2023

The United States Department of Homeland Security introduced a comprehensive cybersecurity framework, placing a strong emphasis on merging the worlds of physical and digital security. Lessons Learned: Exploration of Cybersecurity Vulnerabilities: In 2023, a surge in cyberattacks exposed vulnerabilities across various sectors.

Management 59

Management Travel Vulnerability Cybersecurity 59

Risk Management Monitor

JUNE 17, 2022

As organizations continue to adapt to remote or hybrid work models, it has never been more vital to have a robust cybersecurity program to better protect against ransomware attacks and other cyberattacks against company systems and personnel.

Alert 76

Alert Cybersecurity Activation Asset Management 76

Pure Storage

MARCH 25, 2024

Specifically, these have come from the Cybersecurity & Infrastructure Security Agency (CISA), Federal Financial Institutions Examination Council (FFIEC), and the National Cybersecurity Strategy (NCS) from the White House. FFIEC has a much broader and even less specific mandate than CISA. link] ²“ U.S.

Financial Services 59

Financial Services Resilience Banking Risk Management 59

Erwood Group

OCTOBER 27, 2020

The first and most obvious to many is that business continuity planning helps organizations obtain reduced premiums on insurance. In some cases, we have seen providers work closely with the client to further mitigate risk by providing additional assistance and suggestions. Let’s look at each of these and others in more detail.

Business Continuity 59

Business Continuity Continuity Planning Insurance Insurance 59

FS-ISAC

MAY 25, 2021

But in a digital finance world that is quickly advancing into uncharted territory, non-financial risks – operational risk, fraud prevention, IT risk, and cybersecurity – are increasingly critical to the business. While they often involve factors that we cannot yet predict, these risks can also be quantified.

Banking 52

Banking Cybersecurity Mitigation Risk Management 52

NexusTek

OCTOBER 25, 2023

Similarly, if other parties in your ecosystem have lax security, they place your business at riskeven if your own cybersecurity is excellent. Managing Cyber Risk in Your Business Ecosystem To effectively manage cyber risk in our digital world, you need to evaluate not only your own cybersecurity posture but third parties as well.

Cybersecurity 52

Cybersecurity Evaluation Vulnerability Risk Management 52

eBRP

JANUARY 14, 2025

To build an Adaptive, Resilient Enterprise , organizations must move beyond conventional Business Continuity Management (BCM) approaches. Traditional BCM is often limited to tactical response plans, perceived simply as insurance policies that rarely spark high-level executive engagement.

Resilience 52

Resilience BCM Response Plan Disaster Recovery 52

Risk Management Monitor

SEPTEMBER 1, 2022

Cybersecurity should be a top priority for organizations today, especially as employees continue to work remotely without business-grade protections. Cybersecurity measures need to become part of everyday routines and tasks. Each organization’s security strategy also needs to align with its specific business risks.

Cybersecurity 58

Cybersecurity Threat Monitoring Malware Authentication 58

Reciprocity

AUGUST 24, 2022

Every risk management program should include risks posed by your vendors. Beware, however: vendor risk management is a complex process unto itself, requiring ongoing monitoring and measurement. What Are Vendor Risk Management Metrics? What Are the Most Common Vendor Risks? Cybersecurity.

Management 52

Management Risk Management Cybersecurity Strategic 52