Fusion Risk Management

DECEMBER 7, 2023

Nazir had previously worked in risk management in other industries, including retail, consumer products, and automotive. He worried that that approach wouldn’t work with some customers, vendors, and regulators and could result in potential risks like outages, losing customers for good, and regulatory fines.

Financial Services 52

Financial Services Resilience Disaster Recovery Automotive 52

MHA Consulting

MARCH 2, 2023

In deciding its risk tolerance level, management should analyze the cost to the organization of having its operations offline. An organization that can undergo an outage of five days at no great cost is justified in having a high risk tolerance. Where risk tolerance is high, controls can be relaxed.

Mitigation 75

Mitigation BCM Acceptable Risk Risk Management 75

Fusion Risk Management

NOVEMBER 4, 2021

Whether it’s supplier challenges, extreme weather, an unplanned outage, or an increased threat of cyberattacks, it seems the next disruption is just around the corner. What happens when a hurricane causes damage to an entire region, causing several sites to go down along with unplanned network outages?

Outage 52

Outage Account Manager Activation Application 52

MHA Consulting

JANUARY 26, 2023

Anything and everything is out there regarding how you can protect your organization and its stakeholders from disruptions and recover quickly when outages occur. A great place to get an overview of the whole BC field, from Program Administration to Exercises to Risk Management and Mitigation. BCM consultancy websites.

BCM 92

BCM All-Hazards Disaster Recovery Hazard 92

MHA Consulting

APRIL 20, 2023

In today’s post, we’ll look at how such a model can help an organization understand its risks, mitigate the risks that threaten its core services, and integrate business continuity with enterprise risk management, thus boosting resilience overall. What Is a Risk Maturity Model?

Resilience 52

Resilience Risk Management Mitigation BCM 52

MHA Consulting

APRIL 20, 2023

In today’s post, we’ll look at how such a model can help an organization understand its risks, mitigate the risks that threaten its core services, and integrate business continuity with enterprise risk management, thus boosting resilience overall. What Is a Risk Maturity Model?

Resilience 52

Resilience Risk Management Mitigation BCM 52

MHA Consulting

FEBRUARY 23, 2023

Successful risk mitigation requires that a central authority supervise controls following a coherent strategy. Try a Dose of Risk Management As a business continuity professional, I tip my hat to any organization that makes a serious effort to reduce its risks. Try a Dose of Risk Management The post Who’s the Boss?

Mitigation 83

Mitigation Authorization Risk Management Vulnerability 83

LogisManager

JULY 22, 2021

Their process for developing and updating their BCP initially involved holding in-person interviews with department heads to gather information about various impacts to their core processes in case of an outage: Who are their key team members? This lets them easily determine which processes need to be prioritized during an outage.

BCP 94

BCP Outage Continuity Planning Business Continuity 94

Alternative Resiliency Services Corp

DECEMBER 10, 2019

​Your Business Continuity, Risk Management and related programs can get side-tracked during the holiday rush. Exercises Winter presents significant potential for business interruptions and outages. People are “too busy” to participate.

Audit 130

Audit Outage Evaluation Business Continuity 130

Fusion Risk Management

DECEMBER 1, 2021

Taking the following steps helps appropriately manage and mitigate risks throughout the vendor lifecycle: Dive deeper during due diligence. The post Determining a Critical Vendor appeared first on Fusion Risk Management. Establish guidelines and alerts for continuous monitoring.

Outsourcing 52

Outsourcing Alert Financial Services Outage 52

Fusion Risk Management

SEPTEMBER 7, 2022

In fact, according to Gartner’s Top Security and Risk Management Trends survey , 48 % of executives believe that cybersecurity is the top source of risk to their organizations. . Businesses must have a third-party risk management system that helps them to identify and reduce risks caused by third-party service providers.

Technology 59

Technology Cyber Resilience Resilience Cybersecurity 59

LogisManager

FEBRUARY 10, 2022

That’s why it’s more important than ever to ensure you’re taking the right steps to use it to your advantage, which all starts with strong risk management. In the banking industry, managing reputational risk is a complex and ongoing discipline. Just like any business, banks face a myriad of risks.

Banking 52

Banking Risk Management Strategic Evaluation 52

Risk Management Monitor

DECEMBER 17, 2021

Additionally, 10,000 Kentucky homes and businesses reported being without water, and another 17,000 were under boil-water advisories, according to the Kentucky Division of Emergency Management. These outages have complicated search and rescue efforts, as rescue workers excavated destroyed buildings, searching for people who are still missing.

Insurance 79

Insurance Insurance Outage Pandemic 79

Fusion Risk Management

APRIL 5, 2023

The Impact of Ineffective Resilience Capabilities is Severe Imagine a bank that experiences a catastrophic outage in its IT systems , preventing customers from accessing their accounts for several days. That’s why Fusion Risk Management is here: to transform how organizations approach resilience.

Resilience 59

Resilience Strategic Banking Vulnerability 59

On Solve

JANUARY 14, 2022

Only 30 percent of organizations are very confident they can handle the increasing complexity of risk management in the future. The average cost of an unplanned data center outage is $9,000 per minute, according to a Ponemon Study. Failing To Plan Is Planning To Fail, Forrester Consulting, October 2021 4.

Business Continuity 98

Business Continuity Benchmark Consulting Outage 98

Fusion Risk Management

AUGUST 26, 2021

Users can now embed Relationship Map inside a flow to view relationships and dependencies beyond the current plan to see how sites, processes, systems, and people are affected by an outage. Please contact your account manager to learn more. Simply click a node to view additional data pertaining to each record and edit specific fields.

Disaster Recovery 52

Disaster Recovery Outage Account Manager Resilience 52

Fusion Risk Management

SEPTEMBER 14, 2023

The Importance of Incident Management within DORA Incident management should encompass everything from the moment that an outage is detected all the way through to recovery: a complete end-to-end strategy. Economic impact – What are the direct and indirect costs associated with the outage?

Management 59

Management Authorization Resilience Outage 59

MHA Consulting

JUNE 22, 2023

Sorting out such problems can take hours if not days, an expensive proposition if the issue is prolonging an outage. This can be crippling during an outage. We frequently see organizations suffer unneeded impact from outages because their staff have not been trained and prepared to implement the designated response procedures.

Vulnerability 85

Vulnerability Outage Capacity BCM 85

MHA Consulting

MARCH 23, 2023

By adhering to the council’s guidelines, companies can implement best practices for risk management, cybersecurity, data protection, and business continuity planning. The FFIEC standard can be found here, and it’s completely free. Does trying to meet the rigorous FFIEC standard make sense for every organization?

BCM 74

BCM Impact Analysis Business Continuity Banking 74

everbridge

JUNE 12, 2023

Complex IT systems have several failure points, and it only takes one system change to cause a domino effect of failures and outages. Those outages could lead to websites and applications going offline, ecommerce sites no longer taking orders, or end-users being without a crucial service.

Resilience 52

Resilience eCommerce Outage Mitigation 52

Swan Island Network

NOVEMBER 8, 2017

You’ve undoubtedly read about or experienced the Delta outage this week; you might be sitting in an airport reading this right now! Enterprise Risk Management. Enterprise Risk Management: 3 Keys to Success. When the Ship Goes Down, You Need a Lifeboat. Pete O'Dell. November 8, 2017. Share on facebook. FREE DEMO.

Outage 52

Outage Insurance Insurance Risk Management 52

MHA Consulting

DECEMBER 15, 2022

Try a Dose of Risk Management Getting Back in the Air This year, I’m glad to say, I returned to my prepandemic level of business travel. Managers often told us that since their employees were now working remotely, they didn’t have to do BC anymore. Read on to learn about the BCM year in review. as well as throughout the U.S.

BCM 52

BCM Business Continuity Disaster Recovery Outage 52

everbridge

OCTOBER 20, 2022

Takeda’s assessment revealed significant strengths in how quickly and effectively they can identify risks to employees, which was made possible by integrating their CEM platform with their badging and travel risk management systems.

Resilience 64

Resilience Crisis Management Travel Account Manager 64

PagerDuty

MARCH 4, 2024

Finally, FS firms must show they have an Incident Management process capable of restoring service as quickly as possible, and able to report the nature, extent, duration and criticality of the issue.

Financial Services 52

Financial Services Banking Marketing Resilience 52

FS-ISAC

JUNE 30, 2022

With SolarWinds, Accellion, Kaseya, and Log4j, the world realized that third-party suppliers are a key vector of cyber risk. We spoke with MassMutual CISO Ariel Weintraub about how firms need to go beyond third-party risk management to focus on supply chain resiliency, and the different thinking required to effectively build it.

Resilience 52

Resilience Failover Financial Services Cyber Resilience 52

Reciprocity

APRIL 4, 2022

On the contrary, they have several critical differences that security professionals should understand, if you want to deliver the best protection and risk management possible to your organization. Protect information during non-cyber events, such as natural disasters, power outages, or fire. They’re not.

Cybersecurity 52

Cybersecurity Security Internet Malware 52

IT Governance BC

FEBRUARY 12, 2019

Business continuity management. BCM (business continuity management) is a form of risk management that deals with the threat of business activities or processes being interrupted. Any downtime can be unacceptable given the pace of modern life, so it is essential for organisations to plan for disaster.

Disaster Recovery 78

Disaster Recovery BCM Business Continuity Retail 78

Castellan

DECEMBER 1, 2021

Many of these protections are focused on isolated risks; for example, if a company has a critical product that has to be shipped no matter what – they may choose to store that product in two locations, thereby protecting it. This frequently resides under the CFO with a Director, such as Director of Risk Management or Insurance.

Business Continuity 40

Business Continuity Management Activation Risk Management 40

SRM

MARCH 25, 2020

Examining the key business processes that exist within an organisation and the impact of IT downtime on that business (outage impact), the BIA looks at the key assets in terms of recovery point objectives (RPOs) and recovery time objectives (RTOs). appeared first on Security Risk Management. Business Impact Assessment (BIA).

Continuity Planning 52

Continuity Planning Business Continuity BCP BCM 52

MHA Consulting

JUNE 1, 2023

The threat of utility or network outages. Threats posed by cyberattacks: ransomware, data theft, and the rest. Threats affecting access to one’s facilities caused by road construction, accident, or political unrest.

All-Hazards 86

All-Hazards Hazard Business Continuity Mitigation 86

Security Industry Association

MAY 27, 2021

They could also come from non-natural sources; such threats would include theft, sabotage, terrorism, power outages, civil unrest and so many more. Many of the points made apply to other risk areas. These physical security threats could be natural, like severe weather, fire, earthquakes, volcanoes, flooding and more.

Alert 52

Alert Publishing Authorization Media 52

LogisManager

MAY 27, 2021

Naturally, your BCP will include risks that you deem a threat to your business. In Risk Management, it’s important to consider potential risks that others may not have ever predicted to become reality (many people today say they never imagined in their lifetime that they would experience a pandemic). Supply chain issues.

Continuity Planning 52

Continuity Planning Business Continuity BCP Disaster Recovery 52

Plan B Consulting

APRIL 12, 2019

I am not sure what this will be, but perhaps it could be resilience (which is gathering a head of steam) and integrating the different risk management disciplines under the banner of resilience. My Hive internet heating system was down last week due to an outage at a data centre.

Business Continuity 40

Business Continuity Outage Fashion Business Recovery 40

Plan B Consulting

APRIL 12, 2019

I am not sure what this will be, but perhaps it could be resilience (which is gathering a head of steam) and integrating the different risk management disciplines under the banner of resilience. My Hive internet heating system was down last week due to an outage at a data centre.

Business Continuity 40

Business Continuity Outage Fashion Business Recovery 40

Zerto

FEBRUARY 7, 2024

With the global surge in cybercrime—particularly ransomware attacks —and occasional outages of cloud services , enterprise risk management is just the latest initiative that needs attention. The ripple effects lasted 4400% longer than the outage itself. Customers, as well as internal team members, were severely impacted.

Activation 93

Activation Backup Outage Authentication 93

MHA Consulting

APRIL 27, 2023

During COVID, business tended to focus on only two of the five risk types; however, organizations that want to prosper over the long term need to be cognizant of and plan for all five kinds of risk. Establish and implement policies and procedures to help ensure that risk responses are effectively carried out.

Risk Management 86

Risk Management Mitigation Pandemic Strategic 86

Plan B Consulting

JANUARY 11, 2019

Kev Brear also commented that “hindsight bias often appears in risk management discussions and I submit that this incident has the potential to be coloured by that aspect”. Whilst this may be true, Mark Armour suggested that “our profession has a tendency to overly-criticize institutions after something goes wrong”.

Airlines 40

Airlines All-Hazards Mitigation Hazard 40