Remove Hazard Remove Insurance Remove Retail Remove Vulnerability
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Strategies for Digital Risk Protection

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Any hazards associated with cloud architectural changes, the use of new platforms such as IoT devices, or new IT systems can lead to digital risk. Vulnerabilities. Each new online connection, however, increases an organization’s attack surface, making it more likely that the company will be hacked. Technology. Compliance.

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5 Steps to Implement Enterprise Risk Management (ERM)

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Passing or sharing the risk via insurance, joint venture, or another arrangement. Operationally Critical Threat, Asset, and Vulnerability Evaluation (OCTAVE), developed by Carnegie Mellon University, provides a self-directed methodology customizable to your organization’s size. Prevention or termination of a risk. Risk Response.

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5 Steps to Implement Enterprise Risk Management (ERM)

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The reactions to risk include: Acceptance or toleration of a risk; Prevention or termination of a risk; Passing or sharing the risk via insurance, joint venture, or another arrangement; Mitigating or reducing the risk by internal control procedures or other risk-prevention measures. Step 2: Assess the Risks. Risk Assessment. Risk Response.

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5 Steps To Developing A Corporate Compliance Program

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You must assess the efficacy of your company’s compliance program and identify potential hazards. When vulnerabilities or violations are discovered through monitoring and audits, make a prompt and consistent effort to address the problem. Maintain steady discipline. Take appropriate action.

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Risk Assessment vs Risk Analysis

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Various types of hazards must be considered. After identifying hazards and risks, consider how they are harmful and the possible outcomes. This means that risks presenting a higher threat must receive more comprehensive control measures than lower-risk hazards. Economic risk. Operational risk. Third-party risk. Quality risk.

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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. The advent of the digital age is partly to blame. Many Needs, One Solution.