GRC

Risk Appetite Limbo

The Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, published “Principles for An Effective Risk Appetite Framework” in November 2013.  Regulations were finalized around these principles by some regulators including the Comptroller of the Currency in 2014.  Although the genesis is FI-related, there are a lot…

Risk Intelligence Reveals Opportunity for Competitive Advantage

Risk intelligence measures an organization’s understanding and implementation of risk management strategies, which are essential to gaining a competitive advantage in any industry. However, after indexing nearly 400 organizations, RSA concluded that less than 10 percent of companies have a risk management strategy that is mature enough to be considered “advantaged.” This signifies that 90…

How to Manage Third-Party Risk Before, During, and After Signing a Service-Level Agreement

One of the great things about events such as the Next-Generation Security Summit is the opportunity to network and share information with security leaders from multiple industries. In recent sessions, third-party risk has been a particularly hot topic. In the banking industry, this discussion is being driven in large part by the US Office of…

Appetite and Exercise

In my last blog post, I posed the concept of Cyber Risk Appetite as something that all organizations need to consider today.  I used the analogy of a balanced diet of risk – taking some risks to keep the business growing while avoiding so much risk that the business becomes bloated.   The objective is to…

Managing Third-Party Security Risk Requires Regular Reassessments

Even if your business partners’ security policies and processes were thoroughly reviewed at the beginning of your relationship, third-party security risk management requires regular reassessments to ensure the appropriate levels of security, privacy, compliance, and resiliency are being maintained. How Often to Reassess Security Risk Experts agree that signing a business agreement is not the…

How Hungry is your Organization?

As someone that tries to watch my diet, I know how hard it is to deal with your own appetite. Several things that are my weakness – fresh bread, cold beer, pizza, the list goes on – are definitely not the best elements for a balanced diet.  Most of the time I am able to deal…