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

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. However, the evidence was inconclusive so their strategy continued unchanged.

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What Is Risk Management?

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What Is Risk Management? The world will always be filled with uncertainty and with uncertainty inevitably comes risk. Risk management, in its simplest form, is assessing the possibility of something bad happening; i.e. “If I take this action, will it result negatively?”. What Is Risk Management?

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The Colonial Pipeline Hack: Failure in Risk Management

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Colonial Pipeline Hack: Failure in Risk Management. That’s why insurance premiums are increasing exponentially for those organizations that cannot provide evidence of an effective ERM program that has strong controls and a robust Incident Response program. Risk Assessments & User Access Reviews.

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Year in Review: Key Trends in Critical Event Management

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Insurance Industry Evolution: The insurance sector adapted to the changing landscape by developing innovative policies that considered climate change risks, ensuring better coverage for property and businesses in high-risk areas.

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Risk Assessment vs Risk Analysis

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Although people often use the words “assess” and “analyze” interchangeably, the terms are not synonymous in risk management. A risk assessment forms the backbone of your overall risk management plan. Risks are not always the fault of the business. What Is a Risk Assessment?

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What Does a Compliance Management System Look Like?

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The Federal Deposit Insurance Corp. An effective compliance management system, the FDIC continues, typically includes: Board and management oversight; The compliance program itself; and. Regular audits of the compliance program. In June 2020, the OCC warned banks about compliance risks related to the COVID-19 pandemic.

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Why Buying SaaS GRC Software Is a Smart Investment

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As organizations and businesses around the world and across industries migrate their IT to the cloud, C-suites are faced with a new dilemma for governance, risk management and compliance (GRC) solutions: cloud versus on-premise software. Managing risk, compliance, and audit processes is complex and resource intensive.