Insurance, Outsourcing and Risk Management - Continuity Professionals Pulse

Risk Management as a Career: A Guide for BCM Professionals

MHA Consulting

AUGUST 24, 2023

For those with a suitable temperament and skill set, a career in risk management can be rewarding due to the field’s broad scope, consequential nature, and rising prominence. In this week’s post, we’ll look at what a risk manager does and the skills it takes to excel in this role. It’s a permanent ongoing activity.

Risk Management

Risk Management BCM Management All-Hazards

Operational Risk Management

MHA Consulting

AUGUST 6, 2024

What is Operational Risk Management (ORM)? Operational risk is a component of every organization that reflects the unavoidable fact that assets, processes and people can fail. Examples of these risks are more common than you may believe. What is the Scope of Operational Risk Management?

Risk Management

Risk Management Management Telecommunications Outsourcing

How to Offload Your Risk to a Third Party

MHA Consulting

FEBRUARY 9, 2023

Risk transference is one of the four main strategies organizations can use to mitigate risk. Try a Dose of Risk Management Wise organizations determine how much risk they will accept then make conscious efforts to bring their risk down below that threshold.

Insurance

Insurance Insurance Outsourcing Mitigation

Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

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

Banking Risk Management Management Corporate Governance

Operational Risk Management

MHA Consulting

AUGUST 6, 2024

What is Operational Risk Management (ORM)? Operational risk is a component of every organization that reflects the unavoidable fact that assets, processes and people can fail. Examples of these risks are more common than you may believe. What is the Scope of Operational Risk Management?

Risk Management

Risk Management Management Telecommunications Outsourcing

TSPs: Making the Case to Invest in Risk and Resiliency

Fusion Risk Management

SEPTEMBER 12, 2022

Even if it is difficult to use that regulatory hammer to secure funding for budget to purchase technology, this should not stop a progressive organization from using effective risk management disciplines to run their programs and serve their customers. Ability to Procure Cyber Insurance.

Resilience

Resilience Insurance Insurance Outsourcing

The Outrage or Lack Thereof: Lessons Learned from the CrowdStrike Outage

Fusion Risk Management

AUGUST 12, 2024

The Third-Party Threat There seems to have been a lot of confusion around how to classify this incident; some see it as a digital or cyber issue, attempting to claim on their cyber insurance. 13 It speaks to the fact that third parties and Operations, Security, and IT teams are now all intrinsically linked. It doesn’t work.” 3 billion 12.

Outage

Outage Airlines Outsourcing Insurance

Top reasons why Business Continuity Planning is ignored!

Stratogrid Advisory

MAY 11, 2020

Listed below are some of the most common justifications for not implementing a robust Business Continuity Management (BCM) Program : 1. We have business interruption insurance. The business interruption insurance will cover actual business loses and expenses associated with the restoration of business services.

Continuity Planning

Continuity Planning Business Continuity BCP BCM

Tips for Managing Third-Party Risk in Health Care

Reciprocity

SEPTEMBER 30, 2022

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. What is Healthcare Vendor Risk Management? Notes on Vendor Access et. Access to PII.

Healthcare

Healthcare Management Vulnerability Risk Management

Important KPIs for Successful Vendor Management

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?

Management

Management Risk Management Cybersecurity Strategic

Third-Party Due Diligence Best Practices

Reciprocity

OCTOBER 7, 2024

Third-party due diligence is the process of vetting suppliers, distributors, and service providers using a risk-based approach to uncover any red flags that may indicate a danger to your business. Making a list of all prospective third parties and assessing their risk is the first step in the third-party due diligence procedure.

Cybersecurity

Cybersecurity Audit All-Hazards Risk Management

33 Data Privacy Week Comments from Industry Experts in 2023

Solutions Review

JANUARY 25, 2023

On top of that, these suppliers themselves outsource their material to second-tier suppliers. New systems will be a collection of smaller applications working harmoniously for better risk management and future outlook. The journey has already started with self-service systems, and it will continue for the next few years.

Backup

Backup Government Application Security

Business Continuity Guide for Smaller Organizations

Stratogrid Advisory

JUNE 3, 2020

An added benefit to a more resilient organization will be lower insurance rates These are just a few examples. Insurance companies assess risks to determine the insurance premiums they will charge. Investment firms assess risks to determine where and how to invest their client's money.

Business Continuity

Business Continuity BCM Impact Analysis BCP

Business Continuity Guide for Smaller Organizations

Stratogrid Advisory

JUNE 3, 2020

Business insurance needs – some business interruption policies are requiring organizations to implement business continuity programs. An added benefit to a more resilient organization will be lower insurance rates. 3 – Risk Assessment. Section 3 - Risk Assessment. Risk Methodology. Vendor Risk Management.

Business Continuity

Business Continuity BCM Impact Analysis BCP

Continuity Professionals Pulse

Risk Management as a Career: A Guide for BCM Professionals

Operational Risk Management

Trending Sources

How to Offload Your Risk to a Third Party

Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

Operational Risk Management

TSPs: Making the Case to Invest in Risk and Resiliency

The Outrage or Lack Thereof: Lessons Learned from the CrowdStrike Outage

Top reasons why Business Continuity Planning is ignored!

Tips for Managing Third-Party Risk in Health Care

Important KPIs for Successful Vendor Management

Third-Party Due Diligence Best Practices

33 Data Privacy Week Comments from Industry Experts in 2023

Business Continuity Guide for Smaller Organizations

Business Continuity Guide for Smaller Organizations

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