Steven Minsky
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  • Boston, MA
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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
Friday
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
Steven Minsky posted a blog post

ESG Investors Target Facebook for Repeat Failures in Risk Management

Facebook’s market capitalization dropped as much as $60 billion after reports emerged that Cambridge Analytica, the data consulting firm used by the Trump Campaign, was given the data of around 50 million Facebook users without their consent.The Cambridge Analytica scandal is the latest in a series of risk management failures that have plagued the social networking company, which has been grappling with its role in the dissemination of fake news propaganda during the 2016 U.S. presidential…See More
Mar 23
Steven Minsky and John Farrell are now friends
Mar 20
Steven Minsky posted a blog post

2018 GRC Market Report Emphasizes New Risk Trends: Reputation, Regulations, and Innovation

The Forrester Wave™: Governance, Risk, and Compliance Platforms, Q1 2018 evaluates and ranks the 14 most significant GRC platforms available, and LogicManager has been named a Leader! But beyond measuring the current offering, strategy, and market presence of GRC providers, the report also dives into the…See More
Mar 20
Steven Minsky posted a blog post

Theranos Charged With Massive Fraud: Building Boards On Skill Over Appearance

The Securities and Exchange Commission charged Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh Balwani with raising more than $700 million from investors through an elaborate fraud in which they made false statements about the company’s technology, business, and financial performance. The way I…See More
Mar 16
Steven Minsky posted a blog post

Tiger Brands Scandal: Fifth Failure Incites Public Outrage

This month, Tiger Brands, the major food conglomerate in South Africa, is entangled in a major scandal. 950 have fallen ill and 180 people have died from listeriosis, which makes this the biggest food-borne illness outbreak in history.In the unraveling of this scandal, I see a proof point for two growing trends:First,…See More
Mar 14
Steven Minsky posted a blog post

Wells Fargo Sanctions Send Message to U.S. Banks: Boards Are Accountable for Risk Management Failures

The Federal Reserve’s unprecedented sanctions against Wells Fargo announced on February 2, 2018, is a warning to bank boards: Directors, not just management, will be held accountable for failures in risk management that result from a lack of proper oversight.In addition to having to replace four of its board directors, the sanctions are constraining Wells Fargo’s growth. The Fed is prohibiting Wells Fargo from growing its balance sheet beyond the $1.95 trillion it held at the end of 2017. The…See More
Mar 12
Steven Minsky posted a blog post

Widespread Negligence Uncovered Following Oxfam Scandal: Steps to Improving Company Awareness and Prevention

Oxfam, one of the UK's biggest charities, was exposed this month to have had 87 claims of sexual exploitation and abuse involving its workers in the year ending April 2017, a 36% increase on the…See More
Mar 9

Profile Information

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

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

Posted on July 13, 2018 at 5:43pm 0 Comments

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.…

Continue

Why Cybersecurity Risk Is a Top Priority: Facts and Figures

Posted on May 25, 2018 at 4:58pm 0 Comments

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…

Continue

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

Posted on May 14, 2018 at 7:00pm 0 Comments

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…

Continue

The See-Through Economy: New Technology and Risk Management

Posted on April 26, 2018 at 4:56pm 0 Comments

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…

Continue

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