Remove Audit Remove Financial Services Remove Mitigation Remove Vulnerability
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Risk Assessment vs Risk Analysis

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A risk analysis is conducted for each identified risk, and security controls are pinpointed to mitigate or avoid these threats. Here are some others: Financial risk. Audit risk. Implement controls and risk response plans to prevent and mitigate risk. Credit risk. Compliance risk. Reputational risk. Competitive risk.

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The Best Risk Management Software to Consider for 2021 and Beyond

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Description: Archer IT & Security Risk Management enables users to document and report on IT risks and controls, security vulnerabilities, audit findings, regulatory obligations, and issues across their technology infrastructure. Platform: Archer IT & Security Risk Management. Fusion Risk Management. Platform: HighBond.

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5 Steps to Implement Enterprise Risk Management (ERM)

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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. Mitigating or reducing the risk by internal controls or other risk-prevention measures.

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5 Steps to Implement Enterprise Risk Management (ERM)

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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.

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Choosing a Governance Risk and Compliance Tool: Constant Vigilance

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Risk management refers to a holistic framework that allows the organization to identify, assess, control, and minimize all its risks: financial, reputational, regulatory, strategic, operational, transactional, and cybersecurity. It also helps align internal audit, external audit, and compliance functions. Audit management.

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

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For example, SVB had a Moody’s A1 issuer rating and KPMG signed off on SVB’s bank’s audit just 14 days before it declared bankruptcy. External auditors, rating agencies, and investment banker analyst firms are protected by free speech and have a financial stake in the companies they report on. This is GRC at its finest.

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Strategies for Digital Risk Protection

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Hence cybersecurity risk management is crucial to prevent and mitigate cyber threats. Digital risk protection is a cyber risk management strategy consisting of two main components: Identifying risks and threats, and then mitigating them. Vulnerabilities. Mitigation. How do you know which mitigation measures to implement?