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Cyberweapons are a constant and evolving threat to society. They have the potential to shut down entire electric power grids and bring companies to their knees. Securing networks against the threat is possibly the most pressing priority, and the cybersecurity market is expected to grow from $75 billion in 2015 to $170 billion by 2020 as a result.

One of most pressing priorities for companies in ensuring cybersecurity is what seems to amount to a massive talent shortfall. Current estimates place t

Risk is a double-edged sword for insurance companies. On one hand, customers buy coverage because their businesses face a variety of risks. On the other hand, risk management challenges for the insurance industry are numerous. These include risks like “underwriting, credit, market, operational, liquidity risks, etc.,” according to the National Association of Insurance Commissioners (NAIC).

Insurance companies operate under the increased scrutiny of a tightening regulatory environment. About a yea

Does your organization rely on vendors or other third parties? In the likely event that it does, are your vendor management processes as thorough as they could be? When performing risk assessments of both current and prospective vendors, it’s difficult to ascertain that every variable has been accounted for. This is especially true for organizations like food and beverage companies; they receive ingredients that, if contaminated, can have serious (and sometimes fatal) effects on consumers.

The Fr

Plains All American Pipeline, a major player in the oil and gas industry, faces $2.8 million in fines, and a grand jury indicted the company on 46 criminal charges – four of them felonies – according to The Wall Street Journal.

Additionally, a Plains employee is being individually charged and faces a multi-year prison term. This is part of a trend set in motion in 2015, when the Department of Justice announced a new policy. It now prosecutes corporate individuals for negligence in risk and compl

By this point, the Volkswagen scandal is old news (we first blogged about it last October). Yet details about the case continue to emerge, most recently about board accountability. As of last week, a Volkswagen “internal probe into its emissions-cheating scandal found no evidence of wrongdoing by members of senior management…” In other words, VW’s Board didn’t know about the deception until it was too late.

This might appear to be a good thing, but actually VW is making its situation worse. Why?

From Safety to Profit Tool: Collateral Optimization

Interview with Judson Baker, Senior Vice President and Product Manager of Derivatives at Northern Trust.

The past year and a half has seen collateral management evolve from a back-office concern, to a middle and front-office operation. The Dodd-Frank Act, devised as a solution to the financial crisis, has had a profound effect on the market, which many are still learning to manage effectively. The threat of new uncleared margin rules (taking ef

marcus evans to host Model Risk & ERM for Insurers conference July 2016

Join leaders in model risk management, model design, and risk modeling to achieve a concrete model risk framework through optimal validation procedures, reporting, and independent reviews.

New York, NY – April 8, 2016 – marcus evans will host the Model Risk & ERM for Insurers Conference on July 17-18, 2016 in New York City, New York. Insurance professionals attend this meeting to learn from their experienced peers in how to

Last month, the Consumer Financial Protection Bureau (CFPB) investigated Dwolla, an e-commerce and online-payment company. It found Dwolla guilty of risk management negligence regarding data security practices.

The investigation has some significant implications. Before we take a deeper look, here are a few key takeaways:

1. Dwolla payed a civil penalty of $100,000, despite the fact that it did not suffer a data breach. This indicates “a broader trend among regulators to change the focus of enforceme

The Risk Americas series returns to NYC next month for the 5th Annual Risk and Regulation Convention set to take place on May 3-4, 2016 at the Hilton Midtown. Risk Americas traditionally brings together senior financial risk and regulation professionals from around the globe to address critical challenges within financial risk management. Following extensive research conducted by the Center for Financial Professionals, the Risk Americas 2016 agenda now features CROs from AQR Capital, Lazard Grou

Reduce your cost of claims by as much as an additional 30%.

Serving 13 countries, Gleason Technology works with Risk Managers to better monitor critical operations that could potentially lead to a hazard within the facility. Their patented location-driven technology time and date stamps any operation while verifying all objectives were within compliance and have met the standards set by the company. 

The results are incredible!

The Theory of Constraints (TOC) is a methodology for identifying the most important limiting factor—i.e. constraint—and systematically improving it.  It was developed by Dr. Eliyahu Goldratt, introduced in 1984 book, The Goal.

TOC differs from traditional management views, in that traditional methods seek to make improvements throughout the organization.  They divide the organization into smaller, more manageable pieces.  The objective, thus, is to maximize the performance of each part, resulting

Evidence is mounting that it is no longer an option to ignore investments in this important organizational capability. Companies need a rigorous enterprise risk management framework to effectively compete in today's uncertain environment. To help companies understand why they need ERM, here's an excerpt from my take on how enterprise risk management enables the business to move faster and overcome disruption:

The wider adoption of strategic risk management cannot come fast enough to save everyone

Back in 2009, we blogged about the SEC’s decision to require board-level accountability for ERM. This decision was based on the conclusion that inadequate risk management allowed the regulatory failures that ultimately led to the financial crisis. As we wrote in that post, “boards are now required by the SEC to report in depth on how their organizations identify risk, set risk tolerances, and manage risk/reward trade-offs throughout the enterprise.”

That blog detailed an important ruling: it refe

LogicManager was recognized in a leading industry analyst’s most recent evaluation of the top 14 GRC software vendors. We take pride in the continued refinement of our product offerings and capabilities, as well as customer satisfaction levels unparalleled in the governance, risk, and compliance market.

LogicManager’s business model is designed to remove frustrations common with GRC solutions:

• Software upgrades are included in the subscription. They are also seamlessly integrated so your use of th

Mistakes are nature's way of showing you that you're learning. As a manager, you will make mistakes, but you can avoid common managerial errors by knowing where the common pitfalls are. In this article, we will name 6 of the most common Leadership mistakes, and see what you can do to avoid them. If you can learn about these here, rather than through experience, you'll save yourself a lot of trouble!

1.       Not setting clear goals and expectations

When your people don't have clear goals, they mu

Leadership is an important and relevant skill to develop for anyone--across all industries, across all corporate functions, both in and out of the office.  Michele Sancricca is uniquely qualified on this topic, having spent several decades as a leader in both the military and corporate worlds.  

I am privileged to have Michele as a personal friend.  Recently, I took the opportunity to pick his brain on the topic of Leadership.  Leadership topics discussed include leadership tools, leadership mist

Credit union online news agency CUInsight.com recently published an article declaring cybersecurity a “must” for credit unions. In support of its position, author Stuart Levine cites more than 400 incidents – recorded by the Identity Theft Resource center in 2015 – putting at least 80 million records at risk and tallying costs in excess of $100 million for the targeted organization.

What’s the best way for credit unions to tackle cybersecurity risk management? The author suggests credit unions st

Here at LogicManager, we’ve spent a lot of time considering issues related to cybersecurity. To find a new way in which a cybercriminal has exploited electronic vulnerabilities, all you need to do is skim today’s newspaper, which will almost inevitably report a data breach or fraud-related scandal. An evolving set of threats means incident likelihood is increasing, and generally, cybersecurity risks have serious impacts – meaning such risks have very high inherent indices, or combinations of imp

The concept of cyberattacks, while still disturbing, is no longer as new and unfamiliar as it was five years ago. However, we are still seeing money invested in inefficient and ineffective risk mitigation responses. All the major corporations that have suffered breaches had sophisticated control solutions in place. Even so, their risk exposure was significant in known but uncovered areas, all thanks to poor risk management.

Companies are buying and implementing point solutions despite not underst

Gerry Grimstone, keynote speaker at the IIA’s recent conference in London, has a message for senior executives.

“You can’t easily blame a board member for not knowing something,” Grimstone said. “But you can blame a board member for creating a culture where he doesn’t know something.”

Grimstone spoke at length about the latest example of poor board oversight, Volkswagen’s recent side-steps in ERM and increasingly costly emissions scandal. “Do you really think there weren’t people who didn’t know t