Remove Audit Remove Insurance Remove Strategic Remove Technology
article thumbnail

The Difference Between Strategic and Operational Risk

Reciprocity

New technologies, increasing digitization, and evolving customer demands create risks that can disrupt operations, weaken cybersecurity, and harm the organization’s reputation or financial position – and above all, leave the organization unable to achieve its business objectives. Strategic and Operational Risk: A Brief Intro.

article thumbnail

Choosing a Governance Risk and Compliance Tool: Constant Vigilance

Reciprocity

To succeed, a business is well advised to use a dedicated GRC tool; the right one allows you to stay aware of your organization’s risk posture, align your business and strategic objectives with information technology, and continually meet your compliance responsibilities. What Are the Benefits of Using a GRC Tool?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Year in Review: Key Trends in Critical Event Management

everbridge

This strategic move aimed to safeguard both online and offline assets effectively. Cybersecurity solutions increasingly harnessed these technologies to analyze extensive data, detect anomalies, and automate incident response, leading to quicker and more precise threat identification and mitigation.

article thumbnail

5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Your ERM program should encompass all aspects of risk management and response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters. The result should be better, more strategic decision-making. Prevention or termination of a risk.

article thumbnail

5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Your enterprise risk management (ERM) program – one that encompasses all aspects of risk management and risk response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters – should involve strategic, high-level risk management decision-making.

article thumbnail

IRM, ERM, and GRC: Is There a Difference?

Reciprocity

Organizations typically bought insurance to avoid the losses these risks could cause, thus “transferring” the risk to the insurance company. “The first was a technology vendor briefing demonstrating their solution to manage and integrate policies, controls, and risks. This struck me.

article thumbnail

What Is Enterprise Risk Management & Its Importance

Reciprocity

There are many different types of risks, such as operational risks, financial risks, or strategic risks; as well as others including reputational, regulatory, or cybersecurity risk. ERM looks at risk management strategically and from an enterprise-wide perspective. What is ERM? ERM also has financial benefits. Monitoring.