The era of Big Data is here. Information now exceeds fantastic proportions, globally measured in zettabytes (each zettabyte is a billion terabytes) and growing at an exponential rate that defies comprehension. According to the IDC, global data is expected to grow from 23 Zettabytes (ZB) in 2017 to 175 ZB by 2025. And depending on your industry and specific organization, you likely have plentiful external and internal data sources readily available for mining, applying predictive analytics and creating viable projections. Leveraging data allows companies the ability to improve income streams, more effectively direct operations and enhance the customer experience. Overall your organizational health improves dramatically when data is accurately assessed. But big data also is a powerful – and vital–tool…
Tag Archive: risk management
In all sectors, technology has become a vital aspect of operations and has transformed the workplace, but that dependence on technologies also poses a threat to organizational wellbeing. Data breaches, system failures, malicious attacks–as well as natural disasters that impact technologies–can wreak havoc on company reputations, regulatory compliance and fiscal health. In some cases, the damage from these events is irreversible or long-term. A proactive strategy to mitigate tech risks are foundational aspects of operations. Your company needs such a plan that prevents, responds and continuously monitors for these risks. Monitoring and Managing Risks in Technology The adage, “An ounce of prevention is worth a pound of cure,” is entirely applicable to monitoring and managing tech risks. A whole-organization system…
A risk management information system (RMIS) allows you to automate many of the difficult to organize tasks involved in compiling, storing, and communicating risk information.
The ONC Security Risk Assessment Tool incorporates 205 pages with 156 questions. This checklist helps organizations organize basic technology safeguards controls.
Financial institutions and nonbank financial institutions must find new ways to meet BSA, AML, and KYC regulatory compliance by enabling IT compliance.
At first glance, project management and enterprise risk management have few similarities. Project management focuses on creating something new while enterprise risk management focuses on ending an existing threat. In reality, the two parallel one another which is why both can use agile processes to create stronger, more efficiently obtained outcomes. What is Risk Management on Projects What is Project Management? Project management incorporates the varied activities to bring projects from the idea stage through to finalized development. These activities include the project or phase initiation, timetable creation, information distribution, change and adjustment observation, and data compilation at project completion. What Skills Does a Project Manager Need? Since the project manager implements the strategies, the individual must possess both strong…
Enterprise Risk Management (ERM) programs require building a program around your organization's strengths similar to a creating a strong deck for a tabletop game.
Using automation can help make these five steps to developing a corporate compliance program more efficient.
Enterprise risk management involves reviewing internal and external risks to your organization and determining your tolerance and controls.