Enterprise governance risk and compliance is — or should — be a major concern for organizations in all business sectors. Forbes called the 2021 jump in cybercrime “alarming,” with data breaches surpassing the prior year’s figure by October 2021. Meanwhile, The Insurance Journal reported that cybercriminals took in over $1.3 billion in “ransoms,” with 2021’s… Continue reading Understanding Enterprise Governance Risk and Compliance
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Category: ERM Strategy and Consulting
GRC 101: What is a Governance Risk and Compliance Framework?
Without a doubt, it is a difficult challenge to navigate today’s business world. Many different steps and risks are associated with even the most basic pursuits. Never mind, trying to expand. What was once commonplace for businesses: achieving goals, sustaining performance, and increasing resiliency are now arduous, with issues arising at every turn. A… Continue reading GRC 101: What is a Governance Risk and Compliance Framework?
Governance, Risk and Compliance 2022 & Beyond
Risk is everywhere, especially for modern businesses. Now, understanding that there is risk associated with everything is paramount to risk management. Everything from the core of your business to what your employees do outside of work constantly gets scrutinized. Thus, more often than not, business owners find themselves mitigating risks instead of acting in… Continue reading Governance, Risk and Compliance 2022 & Beyond
Understanding ESG Risks
ESG (Environmental Social Governance) includes metrics that measure social responsibility, environmental sustainability, governance, and shared values. It is becoming increasingly important to businesses, with more than 500 firms now routinely reporting ESG data. Investors, employees, and customers are demanding more transparency from companies to assess their sustainability credentials. ESG risk management is becoming a must-have… Continue reading Understanding ESG Risks
Enterprise risk management technology | What is it?
What is Enterprise risk management? Enterprise risk management (ERM) is the process of planning, organizing, directing, and controlling the activities of an organization to minimize the harmful effects of risk on its revenue as well as reputation. Enterprise risk management includes financial risks, strategic risks, operational risks, and risks associated with accidental losses. ERM can… Continue reading Enterprise risk management technology | What is it?
What is IT Governance?
IT governance is a critical aspect of an organization’s overall enterprise risk management process. It is a process of establishing IT policies that determine the proper use of IT assets, and it forces an organization to think about the role of IT in its business. Through IT governance, an organization can identify and measure its… Continue reading What is IT Governance?
What is Operational risk management?
Operational risk management (ORM) is a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk. (ORM) is a way to get a holistic view of a company’s risk footprint throughout the supply chain—and everyone across the organization has a… Continue reading What is Operational risk management?
Maintaining Vendor Compliance
The rules organizations must adhere to so they can maintain compliance is often hard for organizations to keep up with. Regulations seem to change monthly and the cost of being compliant keeps rising. Business operations that deal with sensitive data store this information digitally where cybercriminals are patiently waiting to pounce at the slightest… Continue reading Maintaining Vendor Compliance
What is a Vendor Management Policy?
Organizations are connected to more vendors now than ever before. In fact, the number of third-party relationships an organization can have can be over 5,000. Organizations can find themselves on the hook for huge fines and other negative consequences, if they fail to meet compliance regulations and or suffer an attack. This is true even… Continue reading What is a Vendor Management Policy?
Integrated Risk Management Framework. What is it?
What is Integrated Risk Management? Integrated Risk Management (IRM) is an essential approach in modern business that combines processes, technologies, and a risk-aware culture. This integration enhances decision-making and performance by offering a comprehensive view of an organization’s risk profile. Understanding IRM’s significance requires grasping its structured approach, known as the Integrated Risk Management Framework… Continue reading Integrated Risk Management Framework. What is it?