Risk Management Monitor

MARCH 3, 2022

These sanctions have targeted Russia’s financial system and its international financial connections by restricting transactions between Russian banks and those in other countries, most notably through the SWIFT global financial network. Be sure to engage with regulators, enforcement agencies, banks and insurers for guidance.

Banking 58

Banking Management Insurance Insurance 58

Pure Storage

MARCH 25, 2024

FFIEC is an interagency body composed of the heads of the five federal banking agencies: the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau. While the U.S.

Financial Services 59

Financial Services Resilience Banking Risk Management 59

Pure Storage

MAY 13, 2024

The last year has seen such attacks hit Bank of America , Home Depot, T-Mobile , Okta , and Citrix. To help, a new class of tools has appeared on the market: Third-party cybersecurity risk management (TPCRM) platforms can help manage both assessment and ongoing monitoring.

Audit 52

Audit Banking Benchmark Application 52

Plan B Consulting

APRIL 2, 2024

This is a classic business continuity and emergency response incident, and I thought I would examine it through the lens of a couple of risk management concepts: black swan events and Reason’s Swiss cheese theory. The bank was the only short stretch of motorway without a barrier which would have kept the car on the motorway.

Banking 52

Banking Insurance Insurance Mitigation 52

Fusion Risk Management

SEPTEMBER 12, 2022

Even if it is difficult to use that regulatory hammer to secure funding for budget to purchase technology, this should not stop a progressive organization from using effective risk management disciplines to run their programs and serve their customers. Ability to Procure Cyber Insurance.

Resilience 52

Resilience Insurance Insurance Audit 52

MHA Consulting

MARCH 23, 2023

Collectively, these guidelines make up the FFIEC Business Continuity standard, whose purpose is to make sure the banks and other financial institutions that are required to follow it can continue to operate even if they are hit with a disruption.

BCM 74

BCM Impact Analysis Business Continuity Banking 74

Risk Management Monitor

MARCH 4, 2022

Concerns about escalating cyber activity around the crisis are a vivid reminder of the importance of knowing your threat model and adjusting your risk management priorities accordingly. Organizations should be asking themselves, “What does the work day look like without access to the business’ systems?” Check it out here: [link].

Management 56

Management Malware Cybersecurity Insurance 56

Advancing Analytics

AUGUST 26, 2021

Besides that, the financial industry is a vast sector that includes banks, building societies, e-money institutions, mortgage companies, investment banking, credit unions, insurance and pension companies. Interestingly, the insurance sector has 100% live machine learning applications in use. Risk Management.

Financial Services 52

Financial Services Banking Insurance Insurance 52

Fusion Risk Management

NOVEMBER 3, 2022

These requirements can apply in third-party risk scenarios but also more broadly across the enterprise where risk for misconduct exists. Defense costs in connection with an SEC investigation can exceed $1 million in order to defend individuals, directors, and officers – and indemnification insurance may not always cover the cost.

Resilience 96

Resilience Cybersecurity Mitigation Risk Management 96

Solutions Review

SEPTEMBER 27, 2021

AuditBoard also streamlines audit, risk, and compliance programs with an enterprise workflow engine purpose-built to automate interaction across those three lines. Enablon also allows users to establish, manage, and track Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) to better meet objectives. Navex Global.

Government 92

Government Audit Risk Management Hospitality 92

FS-ISAC

MAY 25, 2021

Banks around the world are used to quantifying financial risks such as market, credit, and liquidity risks. But in a digital finance world that is quickly advancing into uncharted territory, non-financial risks – operational risk, fraud prevention, IT risk, and cybersecurity – are increasingly critical to the business.

Banking 52

Banking Cybersecurity Mitigation Risk Management 52

Fusion Risk Management

AUGUST 18, 2022

The DORA is an expansion of the groundbreaking operational resilience requirements first set forth by the Bank of England , FCA, and PRA. The key difference between the DORA and other resilience requirements is that its focus is on Information and C ommunication T echnology ( ICT ) risk. Map your dependencies.

Resilience 52

Resilience Authorization Gap Analysis Risk Management 52

SRM

JUNE 21, 2019

When money was held in bank vaults, criminals used ingenuity and cunning to steal cash and valuables. The post The evolution of cyber crime appeared first on Security Risk Management. Ever since Charles Darwin introduced the theory of evolution in 1859 we have been aware of the continual process of change in the natural world.

Vulnerability 52

Vulnerability Banking Insurance Insurance 52

Plan B Consulting

NOVEMBER 24, 2017

This week I spent some time teaching the GPG course in-house for a bank. I then looked at the £10m figure, which was a real figure the company banked every day, confirmed by the finance department. One insurance company I worked with calculated the cost of downtime as being $30 BILLION.

Fashion 52

Fashion Banking Consulting Activation 52

Plan B Consulting

NOVEMBER 24, 2017

This week I spent some time teaching the GPG course in-house for a bank. I then looked at the £10m figure, which was a real figure the company banked every day, confirmed by the finance department. One insurance company I worked with calculated the cost of downtime as being $30 BILLION. Comments: Chris Green FBCI MSc.

Fashion 52

Fashion Banking Consulting Activation 52

BCP Builder

APRIL 20, 2020

This means that management will need to address what their new business model will be. Business Continuity and Risk Management will hopefully be given the respect it deserves. I think that Business Continuity Certification will be made mandatory by Insurance Companies and Banks. 3) Infrastructure requirements.

BCP 52

BCP Continuity Planning Business Continuity Pandemic 52

BCP Builder

APRIL 20, 2020

This means that management will need to address what their new business model will be. Business Continuity and Risk Management will hopefully be given the respect it deserves. I think that Business Continuity Certification will be made mandatory by Insurance Companies and Banks. Risk Management.

BCP 52

BCP Continuity Planning Business Continuity Pandemic 52

Reciprocity

AUGUST 15, 2022

The Federal Deposit Insurance Corp. In banking, for example, the FDIC, the Office of the Comptroller of the Currency (OCC), or the Consumer Financial Protection Bureau (CFPB) are stringent regulators that can impose high fines for compliance issues. Senior Management. Effective risk management.

Management 52

Management Audit Banking Risk Management 52

Reciprocity

MARCH 24, 2022

For instance, all sales receipts and bank account deposit preparations should be documented. This will allow authorized personnel to perform bank reconciliations and verify that the receipts were deposited into the bank, which reduces asset misappropriation or other types of fraud.

Audit 52

Audit Banking Activation Authorization 52

Erwood Group

JULY 12, 2022

Insurance Contact Information. Risk Assessment Key Findings. Crisis Management Levels. You’ll certainly want to include contact information for the following: Facility Management Provider/Building Owner. Local Emergency Management Office Numbers – EOC. Risk Assessment Reporting. Key Contact Information.

Continuity Planning 114

Continuity Planning Business Continuity BCP Disaster Recovery 114

Solutions Review

JANUARY 25, 2024

This is likely to impact industries where transparency matters, such as healthcare, financial services, and insurance. A risk assessment shows organizations what their architecture looks like, their vulnerabilities, and more. Upholding good cyber hygiene. This Data Privacy Week, responsible data handling is crucial.

Authentication 142

Authentication Cybersecurity Security Government 142

Solutions Review

FEBRUARY 1, 2024

This is likely to impact industries where transparency matters, such as healthcare, financial services, and insurance. A risk assessment shows organizations what their architecture looks like, their vulnerabilities, and more. Upholding good cyber hygiene. This Data Privacy Week, responsible data handling is crucial.

Healthcare 59

Healthcare Security Cybersecurity Government 59

Solutions Review

JANUARY 28, 2024

This is likely to impact industries where transparency matters, such as healthcare, financial services, and insurance. A risk assessment shows organizations what their architecture looks like, their vulnerabilities, and more. Upholding good cyber hygiene. This Data Privacy Week, responsible data handling is crucial.

Healthcare 52

Healthcare Security Cybersecurity Government 52