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The Best Risk Management Software to Consider for 2021 and Beyond

Solutions Review

Our editors selected the best risk management software based on each solution’s Authority Score; a meta-analysis of real user sentiment through the web’s most trusted business software review sites and our own proprietary five-point inclusion criteria.

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The Colonial Pipeline Hack: Failure in Risk Management

LogisManager

For example, a forensic finding made during an evaluation of Colonial Pipeline noted numerous known and preventable vulnerabilities, such as unpatched and outdated systems, that likely led to the security breach. About the Author: Steven Minksy.

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What is Vendor Risk Management (VRM)? The Definitive Guide

Reciprocity

A business has thoroughly planned, authorized, and formed risk management activities, but those elements are not fully implemented due to lacking metrics and enforcement. Periodically request and evaluate vendors’ SOC reports, business continuity and disaster recovery plans, and security documentation. Defined and established.

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SIA New Member Profile: NSG Life Safety

Security Industry Association

Dan and George have over seven decades of combined experience and have catered to all major occupancy types, including but not limited to health care, education, industrial, correctional, hospitality and multiunit residential. NSG stores all project material long before they are needed, collect, inventory, store and insure the materials.

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What Does a Compliance Management System Look Like?

Reciprocity

The Federal Deposit Insurance Corp. Whether it’s your loan or deposit staff, controls must assure that these employees create safe passwords and that only authorized staff can access the information. It typically covers everything, from evaluation and prevention to cooperation and enforcement. Risk Evaluation.

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Internal Controls & Fraud Prevention

Reciprocity

For example, all activities related to financial record-keeping, authorization, reconciliations, and reviews should be divided among different employees. 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.

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