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Strategies for Digital Risk Protection

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Map the organization’s complete digital footprint, linking digital assets to IP addresses, applications, social media sites, third-party vendors, temporary development and quality assurance environments, email accounts, and any other digital channels that hackers could exploit. Vulnerabilities. Data loss or leaks.

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5 Steps to Implement Enterprise Risk Management (ERM)

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The two fundamental components of ERM are (1) the evaluation of significant risks, followed by (2) application of adequate responses. Passing or sharing the risk via insurance, joint venture, or another arrangement. A critical step in any ERM program is an assessment of your enterprise’s vulnerabilities.

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Tips for Managing Third-Party Risk in Health Care

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And that suffering now extends far beyond the potential for Health Insurance Portability and Accountability Act ( HIPAA ) regulatory non-compliance brought on by lost or stolen data; instead, the breaches affect healthcare organizations’ capacity to function and pose a risk to patient safety.

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What Does a Compliance Management System Look Like?

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A compliance program helps a company to meet its legal requirements and to comply with applicable laws and regulations. The Federal Deposit Insurance Corp. As your customers engage in more electronic funds transfers, you need to assure that your financial institution incorporates a review of the controls over vulnerabilities to data.

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

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For example, retail is now “e-tail,” manufacturing plants are increasingly automated, and nearly every step of the hiring and contracting process happens online, from application to background checks to payroll. Users and application systems receive accurate, consistent, and verifiable information.

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Choosing a Governance Risk and Compliance Tool: Constant Vigilance

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Effective governance enables senior management to oversee, control, and coordinate employees, resources, applications, infrastructures, and behaviors. A GRC tool maps each business unit to relevant business processes, applications, and systems. Clear Organizational Hierarchy. Centralized Policies, Controls, and Results.

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Risk Assessment vs Risk Analysis

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This includes potential threats to information systems, devices, applications, and networks. So would a zero-day attack, in which hackers exploit a previously unknown vulnerability. In security, risk assessments identify and analyze external and internal threats to enterprise data integrity, confidentiality, and availability.