Systems engineering – РИСК-АКАДЕМИЯ – АНО ДПО ИСАР

Pandemic risk: Impact, modeling, and transfer – Qiu – – Risk Management and Insurance Review

riskacademy — Mon, 30 Nov 2020 03:44:58 +0000

1 INTRODUCTION

The COVID‐19 global pandemic outbreak has created an unprecedented impact on global economies, local communities, and individual lives. Academic literature evaluating the impact of this global pandemic has been created. For example, Chetty et al. (2020) built an economic tracker to measure the impact of the COVID‐19 crisis on economic activities and document the real‐time impact. Baker et al. (2020) studied the impact of voluntary social distancing and government restrictions and argued that these actions led to extraordinary impact on the market, economies, and society that was not seen in the prior history, including the 1918 Spanish Flu. In the industry, Dan Glaser, the CEO of Marsh and McLennan Companies, has described the crisis as “two black swans that occurred at the same time.” As a public health crisis, COVID‐19 has been a pandemic event most of the living population has never experienced before. The 1918 Spanish Flu was the most recent pandemic comparable to COVID‐19, but since then, few have expected the reoccurrence of a pandemic event of this scale in the modern world. The COVID‐19…

Puleng Technologies on third-party risk management

riskacademy — Fri, 20 Nov 2020 07:48:31 +0000

Third-party risk management is the process of managing risks that organisations are exposed to as a result of relationships with vendors, customers and other external parties. These essential relationships could endanger your organisation as you do not have control over their environments or the ability to effectively implement and manage controls to mitigate any risks.

To effectively manage the risks that third parties pose to your organisation, you should ensure that you have the following in place:

Standardised, accurate and adequate reporting of third parties;
Identification, tracking and logging of all third parties;
Tools to properly and effectively manage third parties;
Defined methods for conducting risk and other assessments; and
Effective solutions and enterprise-wide frameworks for managing and securing third parties.

The consequences of unmanaged third-party relationships could introduce challenges ranging from faulty products from suppliers, cloud service outages and a whole host of third-party provider data breaches. Organisations are more frequently using third-party suppliers to deliver or augment their products and services, and those suppliers in turn also…

Make Tax Planning a Part of Your Company’s Risk Management Strategy

riskacademy — Fri, 13 Nov 2020 15:02:17 +0000

Companies face a taxpaying dilemma: Paying less means higher earnings and a higher value for shareholders, but overly aggressive tax minimization strategies can lead to fines, public scrutiny, and/or reputational damage. Research finds that companies that incorporate their tax-planning decisions into their overall enterprise risk management are better able to find that balance of risk and reward. To do this, boards should 1) Take responsibility for risk oversight; 2) Engage in risk-monitoring activities on a regular basis; and 3) Foster an appropriate risk…

Value of Information to learn the concept plus modeling in SIPmath

riskacademy — Thu, 08 Oct 2020 10:30:12 +0000

Value of Information to learn the concept plus modeling in SIPmath #decisionscience, #decisionmaking, #sipmath, #brianputt

Value of Information to learn the concept plus modeling in SIPmath

Discusses the decision of whether to buy an umbrella or to gather information before doing so. Discusses the results and also the sensitivity of the decision…

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OneTrust Named a Leader in 2020 Third-Party Risk Management Platform Evaluation, Scoring Highest in the Strategy and Market Presence Categories

riskacademy — Tue, 06 Oct 2020 18:27:29 +0000

ATLANTA, Oct. 6, 2020 /PRNewswire/ — OneTrust today announced it is a leader in The Forrester Wave: Third-Party Risk Management Platforms, Q4 2020. The report analyzed the 11 most significant vendors in the market and OneTrust scored highest in both strategy and market presence categories – two of the three high level categories.

Download a complimentary version of The Forrester Wave: Third-Party Risk Management Platforms, Q4 2020

According to the Forrester report, “…OneTrust has undeniable growth…” The report states that “the [OneTrust] solution blends an AI-enabled platform with a cyber risk exchange, a range of services such as chasing, assessment, enhanced due diligence, and a network of legal pros that help customers interpret compliance regulations globally.”

The Forrester report is based on a 23-criterion evaluation, grouped into three high level categories: strategy, current offering, and market presence. OneTrust scored the highest in both the strategy category with a 4.70 out of 5 and the market presence category with a 4.40 out of 5.

The report evaluated OneTrust GRC Vendor Risk Management, powered by the OneTrust Vendorpedia^TM Third-Party…

Scenarios and Forecasting: Planning for Uncertainty | SDG Decision Education Center

riskacademy — Tue, 22 Sep 2020 12:00:00 +0000

Scenarios and Forecasting: Planning for Uncertainty | SDG Decision Education Center #decisionscience, #decisionmaking

Scenarios and Forecasting: Planning for Uncertainty | SDG Decision Education Center

Scenario planning can help you broaden your strategic thinking about the future; design better, more flexible alternatives; and harness data and analytics to…

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Presenting a Cost and Schedule Risk Evaluation

riskacademy — Wed, 16 Sep 2020 15:21:00 +0000

Presenting a Cost and Schedule Risk Evaluation #decisionscience, #decisionmaking, #sipmath, #brianputt

Presenting a Cost and Schedule Risk Evaluation

Uses a case study to show how to present a CSRA Analysis. Discusses different types of graphics and how to make a decision on mitigations of the cost and sch…

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DAPPMAN highlights critical role of warehousing and logistics in growth of downstream sector

riskacademy — Wed, 16 Sep 2020 01:08:44 +0000

Stakeholders have underscored the need for a Robust Cyber Security strategy and Risk Management Financial Services Growth Cybersecurity risks, as e-fraud have continued to ravage global economies and businesses, with emerging market worst hit due to weak corporate governance and processes.

To get more businesses and financial institutions to know more about the rising trend and ways to curb it, FITC/Nigeria Interbank Settlement System (NIBSS), held a Virtual ThinkNnovation Cybersecurity Conference where stakeholders shared knowledge and insights on curbing the increase in cybercrime.

The conference drew industry experts and thought leaders in Cybersecurity, Technology and Financial services and regulators within and outside Nigeria to discuss avenues where the Nigeria Financial Services Sector can upscale its capacity to tackle emerging challenges in the Nigerian and African cybercrime space.

With the global digitization and shift towards a more connected tomorrow, cyberattacks and risks stemming from these innovations have increased in frequency and impact. The advent of telework arrangements necessitated by the COVID pandemic has seen cybersecurity risks rise…