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Last week, we presented 8 best practices for managing cyber risk. Now we're going to explain why it's so crucial to implement these strategies today. As technologies advance, risk teams are in a constant battle to protect their organizations against new threats. The most recent trend to gain attention is cyber risk. In a 2018 survey conducted by Risk.net, areas of cyber risk ranked #1 and #2 on a list of top ten operational risks.
By Maegan Marshall Wed, Nov 11, 2020 @ 17:11 PM
As an occupier, you have an obligation to maintain your property at a reasonable standard of care so as to not be held liable in case of an accident involving a patron.
An “occupier” may be broadly defined as someone in possession of premises, responsible for premises, in control of premises, responsible for activities on the premises, in control of activities on the premises, responsible for people allowed on the premises, or in control of people allowed on the premises.
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By Christopher Gardner Wed, Nov 11, 2020 @ 14:11 PM
For years now, operational risk managers have relied on their experience and understanding of a subject matter as the perfect risk tools but the fast-paced, cutthroat world of today demands more. You need adequate risk tools integrated at all levels within an operation.
This article covers why you need risk tools, the point of having an operational risk management strategy and the known risk tools guaranteed to help you through the optimum course of action in any situation.
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By Rebecca Webb Wed, Nov 4, 2020 @ 14:11 PM
Why should your organization be using risk maps?
Building a risk map brings valuable benefits. You will have a thorough understanding of your risk environment and how individual risks compare to one another. You can use this to strategically prioritize your risks and determine where to use your limited resources.
A risk map is built by plotting the frequency of a risk on the y-axis of the chart and the severity on the x-axis. Frequency is how likely the risk is or how often you think it will occur; severity is how much of an impact it would have if it did occur.
By Rebecca Webb Wed, Oct 28, 2020 @ 14:10 PM
If you think the cost of claims and incidents within your organization is too high, it’s time to address that problem.
But how can you know what steps to take when all you have is an overall number?
By breaking down occurrences by location, department, division, and so on, it will be easier to figure out the root of the problem and work towards solving it. That’s why it’s important to make these individual units accountable for their costs.
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