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Cyber security is one of the top needs that any business can have in today’s world of digitalization where everything is going online. Companies are maintaining their system with such hi-tech cyber security that it is hard to breach. Since it’s an online world and paperless environment, so cyber security is being prime concern that if anyone who attacks the system he can get into whole of the company’s information.

According to recent research report by World Economic Forum, "90 percent of compan

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Risk management is no longer a new term in a world of business. Though it has emerged over a past few decades, but it is something that every company and business is implementing nowadays for a more efficient results and for more business security. Managing risk is essential for all kinds of business. The difference is just that small businesses have quite a few limited resources to gauge their risk while on the other hand, large businesses can easily identify and calculate risks that can harm t

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Compliance management is a process which ensures that the employees in an organization are following the set of rules that are given to them and there’s no breach in it. It ensures that the policies and procedures are being followed in accordance to their setup. Here rules mean compliance strategies and benchmark, while process means what manages their compliance system.

Compliance management is mixture of functions like policy, procedure, documentation, internal auditing, third part audits, secu

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Security is the concern that comes across the management of every company and every year companies pay huge amount on their cyber security. As year time is passing by, technologies are getting bigger and better and so the threat to them. Since it’s the world of online technology and where everything is computerized or automated, there cyber security threats are also getting bigger and serious every day. So, the people are specializing is protecting their systems and organizations cyber risk or t

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Cybersecurity vulnerabilities are an increasing concern for every company in every industry. Year over year, data breaches increase by 75%. Why are they becoming more prevalent, and how can you protect your business?

8028282501?profile=originalBefore you can protect your company from a data breach, you have to understand why they’re occurring. So let’s look at some statistics:

  • 81% of hacking-related breaches leveraged either stolen and/or weak passwords
  • 70% of employees reuse passwords at work
  • Ransomware is the top variety of
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For the first time, reputation risk, organizational culture, and cybersecurity have all landed among the top five risks in the energy industry. How can energy companies tackle all of these risks without wasting time and money on additional resources?

8028290497?profile=originalThis year at my IRMI Energy Risk and Insurance Conference session, I showed attendees how they could tackle all three of these top-priority risks with enterprise risk management.

The key is adopting a truly integrated approach to risk management. The

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How to Prepare for Recession Risk with ERM

8028278091?profile=originalToday the economy is strong and your business is doing well. But are you prepared for when this strength turns to weakness? Enterprise risk management has been proven to help companies survive a recession.

While there is much debate over whether a recession is looming or not, the fact is, you need to be prepared. Whether in 2019, 2020, or 2021, it’s not a question of “if,” it’s a question of “when” a recession will occur, as history has proven that fluctuations in the economy are both inevitable

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8028279865?profile=originalThere’s an undeniable shift occurring in the business world right now. In fact, it’s been forming since 2007. I’ve coined the phrase the See-Through Economy to encapsulate the shift towards transparency and accountability brought on by new technology and social media.

Since the invention of the smartphone in 2007, consumers have started to exercise their sharing power. Pocket-sized computers alongside world-wide social websites have empowered the everyday customer to influence the integrity of a

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Top ERM Blog Posts of 2018

8028277291?profile=originalScandals, predictions, and insights, oh my! We’ve covered a lot of ground this year in the risk management world. But what were the topics people were buzzing about most?

With over 50 blogs posted in 2018 alone, there was a lot to learn and even more you could have missed as the seasons whizzed by. So, we compiled the top ten blog posts of 2018 to help you refresh and catch up! In these ten ERM blogs, we covered everything from the best way to measure the effectiveness of your ERM program, all th

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IMPACT 2018: Becoming a Risk Management Hero

On Nov. 29, the LogicManager community arrived at Hotel Commonwealth in the historic Fenway district of Boston for sold-out IMPACT 2018. Every year, LogicManager hosts a customer conference where users of the ERM software can learn, share, and grow their risk management program to full maturity.

    

Upon walking into the conference space, you could feel the partnership LogicManager strives to create between customer and employee. As a SaaS provider, most of our work is virtual. But at IMPACT, it

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In late September, Facebook announced that it had discovered a breach in its network that had exposed the personal data of nearly 50 million users to hackers.

The hackers exploited a feature in Facebook’s code to gain access to user accounts, potentially enabling them to take control of them. The breach was the largest in Facebook’s fourteen years of existence.

The fallout Facebook is facing from this breach is the latest example of the see-through economy at work. Since September 27, Facebook’s m

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The Society of Corporate Compliance and Ethics (SCCE) held their annual Ethics and Compliance conference from September 20 to 24 in Las Vegas. This year, I was fortunate enough to be selected to hold a three-hour workshop on risk-based compliance: “Meeting Increased Customer Expectations, Not Just Regulatory Requirements.”

 

8028278069?profile=originalThe SCCE holds this conference to promote ethical and compliant practices in organizations and to equip ethics and compliance professionals with skills and tools necessary to

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8028274053?profile=originalWe’d like to congratulate the 25% of US-based companies that achieved GDPR compliance by the May 25th deadline, and to share a little guidance on how to stay compliant over time.

As we all know, the GDPR is a huge deal. In addition to the scope of this new regulation, there’s also the consequences of non-compliance, i.e. up to €20 million or 4% of annual global revenue, whichever is higher.

Aside from incurring steep fines and lofty litigation, the risk of non-compliance also includes losing your

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8028278090?profile=originalEmergency 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 successful BCDR program is leveraging the information you already have to discover the potential impact and remediation tactics for an anticipated disaster. So, if you’re collecting information arou

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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 the root-cause of the cross-selling scandal as being a failed risk management program, and correctly predicted there would be more Wells Fargo risk management mishaps in the future.

In 2018, regulator investigations finally con

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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 customers

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8028274101?profile=originalSince 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, “Hey, Chipotle, Can You Say Risk Management Rehab?” I took a look at the company’s timeline, and more specifically asked the question as to whether changing their CEO structure twice in less than two years was really the answer to their spicy woes.

This latest Chipotle outbreak, which has been ongo

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GDPR Readiness: How Do You Stack Up?

8028273687?profile=originalThe 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 GDPR statistics to answer that exact question, alongside some quick facts about what this new regulation is asking of international companies. 92% of US-based multi-national com

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8028272266?profile=originalRisk 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 insurance as it pertains to risk management. Too often, people think insurance is a sufficient, catch-all control activity. But while insurance is a perfect way to protect a business from

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Operational risk and its supporting software play a critical role in an organization; but how can its activities add value along the way?
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Have a look at the White Paper: Operational Risk and Supporting Software and learn from recent trends in operational risk, risk management and GRC software to support risk identification, assessment, consolidation, and more.

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