Risk assessments, risk registers, scoring methodologies, ERM programs, and vendor and third-party risk. Practical guidance from the RiskWatch team.
Why oil and gas security needs a dedicated strategy The oil and gas industry has always been a high-value target for security incidents, and the threat surface has expanded materially since the…
Why risk scoring is an organizational decision, not a technical one Risk scoring is the process of attaching a calculated number to a risk so the organization can compare it against other risks,…
In today's complex business landscape, effective risk management is crucial for organizational success. The right software can significantly streamline this process, providing valuable insights,…
The Top Risks in Retail Whether your business is a brick and mortar location or you operate as an online entity, retail organizations require specialized risk management to meet their needs. To stay…
Construction Risk According to the U.S. Census Bureau, the U.S. construction industry was worth $1.3 trillion in 2019. Within such a large industry like construction, risk is inherent in all…
What is ISO 31000? ISO 31000 is a security analysis methodology, or risk management process, that is used in various risk programs across a range of different industries. It helps standardize the…
Risks in Education Whether students are 6-years-old or 40, educational institutions are responsible for providing them with a safe, productive learning environment free of risks. Education risk…
Risk Monitoring Overview Risk monitoring is a crucial step in the total risk management process. Unfortunately, there is never a true end to the risk management process; risk monitoring will always…
We live in a society where risk is ever present and impossible to avoid, no matter what industry you are in. It is no secret that some industries tend to face higher risk than others, therefor they…
A supplier can be defined as a person or organization that provides a product or service to a vendor. Most all organizations use suppliers to provide goods and/or services to them. Though most do it,…
Top 5 Transportation Risks Transportation risk management begins with analyzing your biggest risks, determine where they come from, and the likelihood they will occur. It’s absolutely critical to…
Top 5 Risks in the Insurance Industry Insurance companies place an abundant focus on protecting their customers and minimizing their impact from risks. However, it's vital for these insurance…
What is Risk Scoring? Risk scoring is the process of attaining a calculated score that tells you how severe a risk is, based off of several factors. Without a standard model for risk scoring, risk…
Top 5 Risks in Manufacturing When risks aren’t managed correctly, we often see the negative results plastered on the news and across social media. Delays, breaches, and quality issues are all…
Top Five Risks in Financial Services Within the financial industry, we’re seeing a balance struggle to provide a smooth and automated experience to the customer while simultaneously maintaining a…
What is Resource Allocation Resource allocation, in the scope of risk management, is the process of how an organization distributes its resources across the company for specific uses. This includes…
While there are many great opportunities provided for real estate businesses, there are also certain risks that should be protected against. A real estate business depends entirely on its agents and…
What is Fileless Malware? Fileless malware is a type of malicious software that utilizes legitimate programs, rather than virus-laden files, to infect a host. These legitimate programs are used to…
Third-party risk is quickly becoming a primary concern for many organizations as the utilization of outside resources continues to increase. These organizations are operating in a complex ecosystem…
What is Risk Management Software? Risk management software is a necessary tool that aids companies in preventing or managing a variety of risks. These risks include, but are not limited to, financial…
One of the most difficult parts of running a business includes the dependency you have on other people. You depend on your employees to pull their weight and you depend on other companies to help you…
Outsourcing is a business practice of hiring a third party to perform services or create goods that otherwise could be performed in-house by the company’s existing staff. This applies to a wide range…
It is our collective job as members of an organization to work towards mitigating and managing risks wherever we can, and this includes external risks that are often out of our control. In the case…
Developing an action plan for cyber-physical systems is an integral part of a complete risk management program that continues to grow in importance. According to Gartner, “By 2023, 75% of…
What is Operational Risk? Operational risk, as defined by the Risk Management Association, is the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from…
How can we make eco-friendly business decisions that also benefit risk management goals? This is a question a lot of companies are asking lately, for several reasons. Many companies feel a…
Damage from hail storms is one of the leading causes of loss and one that continues to grow. Causing billions of dollars of damage each year, hail damage has quickly become a high priority risk.…
Managing risk is an essential component of every organization accomplishing its key objectives effectively. Risk management not only requires a reliable process to capture risks, but also needs a…
Vendor Risk Assessments It’s important to assess vendors to accurately determine the risks of doing business with your third-party partners. At the minimum, most businesses will assess their vendors…
Insider threat stealing code Insider threats have always been a significant possibility for many organizations, but in recent months we’ve seen a boom in incidents highlighting this particular risk.…
Disaster planning example wildfires Today, disaster planning is becoming a more important component of risk management than ever before. It’s no easy task to create or maintain this plan, and you may…
When we look at successful businesses, it can be difficult to gauge every positive contribution to their accomplishments. One certain factor, though, is the combination of unforeseen risk and the…
Each industry has its fair share of acronyms and terminology that can be difficult to learn. To someone outside the industry, these phrases may seem like a foreign language. In Healthcare, HMO…
Remote Risk Assessments Due to COVID-19, travel has become increasingly difficult and dangerous. So much so, that many businesses require a 14-day isolation period for anyone who has traveled within…
Reputational Risk Every organization, despite its size, location, or industry, has reputational risk. While any risk carries the possibility of causing undesirable consequences, damage from…
NASA temperature increase Where Do Climate Change and Risk Management Meet? In today’s setting, it is not only a good moral decision to protect the environment, but a risk-conscious decision as well.…
Third-party risks banner Third-Party Risk Third parties are a necessary risk for many organizations, helping them to expand their reach and services to limits far past what could be achieved on their…
Performing a Cyber Risk Assessment Cyber Risk Assessments Risk assessments are crucial to any organization’s risk management strategy. A cyber risk assessment functions to identify information assets…
Changes in Workforce Flexibility The workplace has changed more in the last few years than the last two decades combined, especially in terms of flexibility. Only a fraction of the US workforce had…
The Coronavirus As the coronavirus continues to spread throughout China and the rest of the world, we’re seeing serious effects on businesses. From shuttering factories to employee death, the…
Risk Management Overview Risk management is the process of identifying, assessing, and controlling risks. This is crucial to the success of an organization as it impacts decision making and…
The Emergence of Artificial Intelligence in Security Artificial intelligence (AI) being used for cybersecurity is a dream come true to most professionals in the security and risk management field.…
What Tesla Teaches Us About Supply Chain Issues An organization’s supply chain is vital to ensure that the necessary materials, services, and technologies are purchased from the right sources, at the…
The Danger of Flash Drives When considering the many risks that face organizations today, most of us tend to unconsciously gloss over the threat of everyday items, such as a flash drive. Also…
Reduce Cybersecurity Risks With Password Security Cybersecurity and knowing the related risks are essential to any company trying to succeed today. Many disregard cybersecurity and data breaches as…
Government Risk Management Government departments and agencies face an ever-increasing amount of pressure to improve transparency in their processes. As part of this, risk management becomes a key…
The it of IT Risk Management This week we’re discussing IT risk management, a topic that is never really complete and should always be part of the conversation at your place of business. At its most…
What is business continuity management? A vital component of any healthy organization, business continuity management is the process of developing systems of prevention and recovery in response to…
Top Risks in Third Party Management When you observe a business ecosystem, it’s important to note that it’s dynamic and constantly changing as it interacts with outside elements, such as a third…
The Dangers of the Oil and Gas Industry The oil and gas industry easily has a large impact on the mass populations of the world, as they supply many useful products, the main one being gasoline.…
Financial Service Risk Over the last several years, the financial services industry has been hurdled with scandals and loss. Said scandals have cost financial companies millions of dollars and left…
A vendor can be defined as a person or a company that offers some service or product for a fee. Many companies hire third-party vendors to help get jobs done in certain areas. Outsourcing comes with…
Risk consultants are so busy managing risk for other companies that they often don’t realize that they themselves also have risks to face, such as: missing deadlines, misplacing client documents,…
What’s changed at RiskWatch this year? We’ve overhauled the entire application with a new, easy-to-use interface while simplifying and improving the process for performing assessments. Our new…
The Securities and Exchange Commission (SEC) to require registered broker-dealers and registered investment advisers to conduct risk assessments to identify cybersecurity threats, vulnerabilities,…
USING SPREADSHEETS FOR RISK ASSESSMENTS – WHY IT IS SUCH A BAD IDEA? Spreadsheets are user-friendly, inexpensive, and easy to use, which are key attributes. However, they fall short in several key…
Nearly four out of five high-risk hospitals nationwide have failed to implement safeguards to secure radiological material that could be used in a “dirty bomb,” according to a draft report by…
With the Senate failing to advance the Cybersecurity Act of 2012 (S.3414) to a full vote earlier this month, we must take this opportunity to engage in an honest dialogue about the risks that exist…
Michaels craft stores. TRICARE. Global Payments Inc. These are among the most recent and prominent examples of third-party data breaches that adversely impacted financial institutions, healthcare…
Cyber Benefits from Shift to Enterprise Risk Management Flipping through the 150-page 2012 RIMS Benchmark Survey, in preparation for an interview on the study’s findings (see Social Media Risks:…
A report from Accenture, “The Changing Face of Risk Management,” talks about how risk management within financial services firms (with a focus on insurance) is changing — and in my opinion, in a very…
As more small-business employees share larger files, the security risk is growing, according to a Symantec survey. As the prevalence of online sharing grows, small and midsize businesses are…
Fortune 100 Risk Assessment Fortune 500 Company Conducts Ground-breaking Risk Assessment Across the Organization. One of the Fortune 500, a global electronics manufacturer with over 120,000 employees…
Security programs can be dramatically improved by using a metrics-based assessment to focus them on the areas of greatest threat, and to use metrics as a management tool to keep the security program…
As a risk assessment professional, when I get into a risk discussion, most security people want to talk about THREAT! Threat is the most sexy and exciting part of doing a risk assessment. Threats are…
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