Steven Minsky
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  • Boston, MA
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Steven Minsky posted blog posts
Thursday
Shawn o'Rourke liked Steven Minsky's blog post 'Meaningful Metrics: Measuring Enterprise Risk Management Performance'
Sep 10
Steven Minsky posted a blog post

Meaningful Metrics: Measuring Enterprise Risk Management Performance

To run an effective ERM program, you need the right metrics.Risk professionals today are facing an unprecedented level of scrutiny. Risk managers are not only responsible for protecting and securing their organizations, they also have to provide evidence that their risk management programs are actually effective at managing risk.At the very minimum, risk managers must prove they are meeting the expectations of not only regulators, examiners, and their board of directors, but also their…See More
Sep 5
Steven Minsky posted a blog post

Chipotle’s Outbreak is Their Worst Risk Management Failure Yet: What Can They Do?

Since 2015, Chipotle has suffered multiple scandals of food-borne illness. The latest Chipotle outbreak has left more than 700 people ill. What does the Mexican grill have yet to learn?In my last blog,…See More
Aug 20
Steven Minsky posted a blog post

GDPR Readiness: How Do You Stack Up?

The GDPR is the strictest set of data protection rules any nation has published, featuring some of the most severe penalties connected to data privacy seen yet. Now that the compliance deadline has passed, we started to wonder about GDPR readiness. How are companies stacking up to the new regulation?We compiled a host of…See More
Aug 16
Steven Minsky posted a blog post

Do Insurance Companies Really Need Risk Management?

Risk management in the insurance business is a bit of a head scratcher. On the one hand, insurance companies are selling what many people consider to be a risk mitigation. On the other hand, insurance companies themselves face a variety of risks they need to mitigate.Let’s briefly consider a misconception about…See More
Jul 25
Steven Minsky posted a blog post

MSU Creates New Office of Enterprise Risk Management in Response to Nassar Scandal

Michigan State University has employed a new Chief Compliance Officer in response to the Larry Nassar scandal. By creating an Office of Enterprise Risk Management within the university, MSU is getting on the right track.Earlier this year, former MSU doctor and USA gymnastics coach Larry Nassar was charged with sexually assaulting…See More
Jul 19
Steven Minsky posted a blog post

Harley-Davidson Moves Manufacturing In Response to Trade War: Was it the Right Call?

Back in March, President Trump’s administration threatened to impose steep tariffs on imported goods from some of America’s biggest trading partners. In the following months, the administration set a 25% import tax on steel and 10% on aluminum.…See More
Jul 13
Steven Minsky posted a blog post

Why Cybersecurity Risk Is a Top Priority: Facts and Figures

Chief risk officers and heads of operational risk responded to a survey held by Risk.net and identified their top risk concerns. Their number one concern was IT disruption, while their second highest concern was data compromise. Why is cybersecurity risk on everyone’s mind?For one thing, technology is an inescapable reality of every business. Even the smallest of mom and pop shops have an electronic…See More
May 25
Steven Minsky posted a blog post

Wells Fargo Ad Campaign Misses the Mark: Overcoming Failure with Better Risk Management

This week, Wells Fargo launched a new ad campaign called Re-Established. The goal is to gain back customer trust after their repeat failures in risk management. It won’t work.I’ve talked a lot about the…See More
May 14
Steven Minsky posted a blog post

The See-Through Economy: New Technology and Risk Management

Year over year, scandals like Wells Fargo, Equifax, Chipotle and so many others have dominated news headlines as they wreak havoc on consumers, investors, and awaken industry and government regulators. What is driving this trend?Consumers have entrusted corporations with increasing involvement and influence in their lives through the decades. In 2014, for example, the Supreme Court ruled that corporations have some of the rights and responsibilities as natural persons. In other words,…See More
Apr 26
Steven Minsky posted a blog post

Wells Fargo’s Failures in Risk Management Cost $1 Billion Settlement

Wells Fargo has suffered the consequences of repeat scandals since 2016. This week, the bank agreed to a $1 billion settlement with federal regulators who have cited their lack of effective risk management practices as the root cause of their woes.This settlement with the Consumer Financial Protection Bureau and…See More
Apr 23
Steven Minsky posted a blog post

Hudson's Bay Data Breach Confirms the Need for Enterprise Risk Management in the Retail Industry

On Sunday April 1, Retail group Hudson’s Bay disclosed that it was the victim of a security breach that compromised data on payment cards used at Saks Fifth Avenue and Lord & Taylor stores in North America.As many as 5 million cards may have been compromised, which would make the breach one of the largest involving payment…See More
Apr 9
Steven Minsky posted a blog post

Orbitz Data Breach Signals Complacency: What You Didn’t Know About Cyber Breaches

Orbitz said hackers may have accessed 880,000 credit card numbers and possibly the names, dates of birth, phone numbers, and addresses of consumers who booked through the site in 2016 and 2017.The Orbitz data breach pales in comparison to the…See More
Apr 4
Steven Minsky posted a blog post

Under Armour Risk Management Failure: Data Breach Affects 150 Million MyFitnessPal App Users

On March 29, 2018, Under Armour announced that the data of over 150 million users of the MyFitnessPal diet and fitness app was exposed in February of this year.User data included usernames, emails, and passwords. The company put a PR spin on the breach by disclosing that government-issued identifiers like Social Security and driver’s license…See More
Apr 2
Steven Minsky posted a blog post

VW in Need of Risk Management Rehab After Multiple Emissions-Testing Scandals Emerge

According to reports uncovered earlier this year, Volkswagen conducted diesel-emissions testing on humans and animals from 2013 to 2015.This report is the latest development in a global scandal which revealed that VW diesel cars were emitting 40 times the legal standard of nitrogen oxide, causing smog and posing risks to public health. Volkswagen has already issued a guilty plea in response to…See More
Mar 27

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Tell us more about who you are, what you do and where you want to be. What are your main business challenges? (Tip: provide your current Job Title, Industry, company or/and paste your Linkedin profile here). Use as many relevant keywords as possible. Tell us what you can offer the community. What sorts of discussions, events, and activities you can participate in.
Steven is the CEO of LogicManager, the leading provider of ERM solutions. Steven is also the author of the RIMS Risk Maturity Model and the RIMS State of ERM Report, a frequent contributor to blogs and press, and an instructor on many risk management topics.

Steven is a patent author of risk and process management technology and holds MBA and MA degrees from the University of Pennsylvania’s Wharton School of Business and The Joseph H. Lauder Institute of International Management.
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Steven Minsky's Blog

How to Support a Risk-Based BCDR Program without Spending More

Posted on September 20, 2018 at 4:00pm 0 Comments

Emergency situations like natural disasters, data breaches, fraud, and the like arise, by definition, without warning, leaving you little to no time to prepare. So how do you build a BCDR plan that is flexible to handle any situation and is always up to date without huge investments?

The hallmark of a…

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Overcoming Failures in Risk Management: Is Wells Fargo Getting the Message?

Posted on September 19, 2018 at 5:30pm 0 Comments

It’s been a rough two years for Wells Fargo.

Ever since the existence of the bank’s massive cross-selling scandal came to light in 2016, Wells Fargo seemed to be trapped in a downward spiral of failure after failure in risk management. In 2016, we were the first to identify…

Continue

Meaningful Metrics: Measuring Enterprise Risk Management Performance

Posted on September 5, 2018 at 10:17pm 0 Comments

To run an effective ERM program, you need the right metrics.…
Continue

Chipotle’s Outbreak is Their Worst Risk Management Failure Yet: What Can They Do?

Posted on August 20, 2018 at 7:00pm 0 Comments

Since 2015, Chipotle has suffered multiple scandals of food-borne illness. The latest Chipotle outbreak has left more than 700 people ill. What does the Mexican grill have yet to learn?

In my last blog,…

Continue

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