article thumbnail

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

LogisManager

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.

Banking 98
article thumbnail

Money at Risk: Finance & Data Security in the Digital Age

NexusTek

Chief among these is the unarguable fact that financial services organizations are consistently a top target for cyber threat actors, a reality that exists in tension with the #1 criterion customers use to evaluate financial institutions: security 1. Privacy and security are top concerns for digital banking consumers. 2021, June 22).

Insiders

Sign Up for our Newsletter

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

article thumbnail

3 Steps to Prepare for 2024 and Beyond with the Risk Maturity Model

LogisManager

. #1 Engage Your Risk Committee and Board of Directors with the Risk Maturity Model Engaging your Board of Directors (BOD) or Risk Committee with the Risk Maturity Model (RMM) can help you evaluate and improve your organization's risk management program. In the first case, a bank faced a safety and soundness review during the recession.

article thumbnail

3 Steps to Prepare for 2024 and Beyond with the Risk Maturity Model

LogisManager

. #1 Engage Your Risk Committee and Board of Directors with the Risk Maturity Model Engaging your Board of Directors (BOD) or Risk Committee with the Risk Maturity Model (RMM) can help you evaluate and improve your organization's risk management program. In the first case, a bank faced a safety and soundness review during the recession.

article thumbnail

New GLBA Safeguards For CPA Firms

LAN Infotech

As a result, the expanded safeguards rule covers a wide range of non-banking institutions, from tax preparers to those who provide career guidance to those who are now employed or have just been ousted from financial institutions. Financial institutions are required to do extra risk assessments regularly.

article thumbnail

The Ukraine Invasion: What Are the Impacts on Supply Chain Dynamics?

Fusion Risk Management

The Bank of England, as part of their operational resilience policy statement , continually outlined the need for institutions to ensure that they can continue to deliver their important business services during severe (or extreme) but plausible scenarios.

article thumbnail

How to Implement Threat Modeling in Your DevSecOps Process

Pure Storage

Threat modeling is the process of identifying potential threats and vulnerabilities in a system and determining the likelihood and impact of each threat. Assets that are vulnerable to spoofing include usernames, passwords, and digital certificates. What Is Threat Modeling? This can be a serious threat to confidentiality and privacy.