Risk Management

10 Effective ways to get more out of risk management

10 Effective ways to get more out of risk management
To counter organization's operation risks in today’s dynamic world, there is a need for robust risk and control self-assessment framework which will enable your company to assess control's maturity level regularly against the risks to operations. You may think of including (but not limited to) the following actions/activities as part of risk & control self-assessment.
 
  1. Agree risks are complete and accurate - Take into account risks identified through internal and 3rd Party risks, security audits, incident logs (IT only) , significant business changes/ new regulations, external data, and risks identified in ICAAP scenario sessions(Banking and Financial sectors).
     
  2. Identify root cause of Risks.
     

Risk Assessment: Objectivity vs Subjectivity

Risk Assessment: Objectivity vs Subjectivity

We all have encountered with various risk management methodology but we have always wondered which one I shall adapt. The one which is highly objective or the one which is subjective. Each kind has its own advantages, let us not discuss disadvantages because the ultimate goal is to manage risk which is a good objective of having a risk management methodology.

BCP ÔÇô Dust it off!!! ItÔÇÖs high time to revamp, rediscover and reconstruct it !!

BCP ÔÇô Dust it off!!!  ItÔÇÖs high time to revamp, rediscover and reconstruct it !!

As we all know Business Continuity Plan is something that is unique to an organization. We might have organization level or project level business continuity plan. How many of us really read the business continuity plan of our project/organization rather than keeping it as an artifact for audits?

Netherlands Crane Collapse: August 3, 2015 - An Ops Risk Lesson

Here is a lesson in operations risk management.  Two cranes are working in tandem to raise and position a large bridge span and its steel super-structure.  The cranes are operating on a floating barge (!!!).  I would think it predictable that as the combined weight of the cranes and span swung to one side, the barge would list.  Nobody seemed to react when the barge started first to rock and then list, or not quickly enough.  It might have been too late in any case.  One crane toppled off the barge.  The bridge span fell and one side of the span hit one of the second crane's footings.  The second crane then slid off the barge, and the entire thing toppled next to the first crane.  Someone did not think this operation through in its entirety.  Or (my guess), maybe the barge was to have been stabilized, but someone neglected to do that, and nobody double-checked to see that it was.  Results: 20 people injured; extensive building and contents damage; displaced occupants; cleanup and re

Should Insurance companies offer Cyber Insurance

Should Insurance companies offer Cyber Insurance

Insurance companies are looking at creating Cyber Insurance products to take to the market. They see this as an opportunity to sell insurance.

But are they really geared up to protect themselves from Cyber attacks?

Insurance companies need to improve their own Cyber resilience so that they are in a position to service their client base during times of adversary.

Views by Farshid Kapadia

Information Security and Risk Management

Gone are the days when security was less important area for organizations. But with immense growth in various attacking and fraud techniques, organizational security has become the major concern. Now days companies are spending millions of dollars each year to keep their environment secure. Still no environment can be 100% secure, as intruders too are trying the latest hacking and attack methods. This is the reason why information security area is booming up and companies are ready to pay huge money to enterprise security services providers.

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