security risks: Risk Reduction: #1 Concern of Bank Boards
- 05/21/14 10:53 PM
The Bank Director’s 2014 Risk Practices Survey reveals some very interesting information about the risk management programs that bank boards have in place.
It’s classically challenging for many banks to assess how risk management practices affect the institution. However, banks that have worked at measuring the impact of a risk management program report favorable outcomes on financial performance. Survey Findings 97 percent of the respondents reported the bank has a chief risk officer in place or equivalent. 63 percent said that a separate risk committee on the board oversaw risks. 64 percent of banks that have the separate risk committee … (0 comments)
A human can easily kill a gnat. So how is it that just one gnat can drive you crazy, even though you can kill it in an instant? You are bigger and mightier ... yet one gnat can get the best of you. That’s because you’re too big for the gnat, as it buzzes around your eyes, nose and in your hair. This is just like when businesses implement giant measures to enhance security and protect themselves against big … (0 comments)
Security is a journey, not a destination. This is a security industry axiom that means we can strive for security, and by making this effort, we can put ourselves on a path to security. But while we may achieve a relative degree of security, our businesses will never be 100 percent secure—the destination we all strive for. Even Fort Knox, the White House and the New York Stock Exchange are vulnerable. But that doesn't mean we shouldn't strive to reach … (19 comments)
security risks: Evaluating Physical and Information Security Risks
- 02/26/14 01:00 AM
When it comes to protecting an organization’s information, flaws with this can involve either implementing strong technology to protect too much trivial data, or inadequate protection of important and sensitive data.
In short, not enough attention is cast upon a company’s most important information; there’s a gap between the IT department and the operational units of the business. A thorough risk assessment is warranted in these cases. Once all the risks are identified, strategies can be created by personnel to prioritize risk minimization. This is risk management. Risk has several components: assets, threats and weaknesses. Businesses must address (risk-assess) all … (1 comments)
security risks: How Small Businesses Can Evaluate Security Risks in the New Year
- 02/14/13 12:57 AM
Evaluating risk vs. reward is a process most people go through on a daily basis. For example, you are about to make a left-hand turn but a car is coming. You think you can make it but he’s kind of coming fast. The risk, of course, is misjudging his speed and getting into an accident. At Ready.gov a risk assessment is a process to identify potential hazards and analyze what could happen if a hazard occurs. A business impact analysis (BIA) is the process for determining the potential impacts resulting from the interruption of time sensitive or critical business processes. A … (0 comments)
The Bank Director’s 2014 Risk Practices Survey reveals some very interesting information about the risk management programs that bank boards have in place.
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