article thumbnail

BCM and ERM: What’s the Difference?

Castellan

At a high level, it may seem natural to use the terms business continuity management and enterprise risk management interchangeably. While there are some congruences between them, there are some unique distinctions that separate the two, and in many regards, they’re actually completely different business functions.

BCM 98
article thumbnail

Hurricane Season is in Full Effect ? Are You Prepared?

Fusion Risk Management

To help with this, it is crucial that organizations invest in operational resilience and business continuity programs so that risk practitioners can more easily identify their business processes, important business services, and the key personnel responsible for those. Can the work be deferred?

Insiders

Sign Up for our Newsletter

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

article thumbnail

Geopolitics, regulations, and resilience

Fusion Risk Management

They also emphasize the need for organizations to strengthen their business continuity (BC) and operational resilience programs as well as prioritize agility to mitigate emerging threats and ensure compliance with global regulatory mandates. Another U.S.

article thumbnail

Resilience is Everyone’s Job

Fusion Risk Management

So, here are five trends that consistently came up during the roundtable and our attendee poll: Business Continuity Program Executive Ownership Remains Dispersed. The Relationship with Third-Party Risk Management Needs Some Work. Then, prioritize the services that, if disrupted, would impact that promise.

article thumbnail

The Importance of Building a Culture of Trust and Compliance

Fusion Risk Management

It is now common knowledge that your organization must invest in technology in order to build a defensible program that can demonstrate that you have appropriate oversight into your important business services. Circling back to third-party risks, fines for violating sanctions can range from $90,000-$1.5

article thumbnail

DORA: Moving Beyond the Basics of Compliance and Implementing a Cross-Functional Approach to Resilience

Fusion Risk Management

Involving every stakeholder from the very beginning is one actionable way to mitigate these issues. Map out their dependencies and make sure to understand what the impact would be for each should that service experience a disruption. Ask yourself: which are the most important in delivering our products/services to our customers?

article thumbnail

Product’s Perspective: True Risk: Why External Vendor Ratings are Only Half the Picture

LogisManager

From the perspective of our Product team, the challenges of risk and compliance professionals are at the forefront. This collaborative group of developers, designers, lawyers and risk managers uses those insights, along with rigorous R&D, to inform the way LogicManager works. Bonus Material: Free Risk Assessment Template.