This post first appeared on Risk Management Magazine. Read the original article. More than half of organizations shifted the focus of their ERM program to emphasize health and safety and business continuity in response to the pandemic, according to the RIMS 2020 Enterprise Risk Management Benchmark Survey. COVID-19 also prompted organizations to allocate more resources (more…)
COVID-19: Sustained Federal Action Is Crucial as Pandemic Enters Its Second Year, Mar 31, 2021
This post first appeared on GAO Reports. Read the original article. What GAO Found More than a year after the U.S. declared COVID-19 a public health emergency, the pandemic continues to result in catastrophic loss of life and substantial damage to the global economy, stability, and security. According to data from the Centers for Disease (more…)
Juvenile Justice Grants: The Office of Justice Programs Could Improve the Quality of a Key Fraud Control, Mar 31, 2021
This post first appeared on GAO Reports. Read the original article. What GAO Found The Department of Justice’s (DOJ) Office of Justice Programs (OJP) assigned inaccurate monitoring priority levels for some Office of Juvenile Justice and Delinquency Prevention (OJJDP) grants from fiscal year 2017 through 2019 through its Grant Assessment Tool (GAT). This may have (more…)
Evolving Practices in Enterprise Risk Management at U.S. Department of Health and Human Services
This post first appeared on APQC. Read the original article. The U.S. Department of Health and Human Services (HHS) is a cabinet-level department of the United States Federal Government comprised of 10 diverse government agencies including the CDC, FDA, NIH, and the Centers for Medicare & Medicaid Services. Successfully implementing ERM means finding a framework that can remain (more…)
Recognizing Strategic Risks and the Role of the CRO
This post first appeared on Risk Management Magazine. Read the original article. Strategic risks can expose an organization to loss and even extinction when unrecognized or unmanaged. Think of the many well-known companies that have ceased to exist due to a failure to recognize the risks coming from new technology, changing customer preferences, heightened competition, (more…)
Electricity Grid Resilience: Climate Change Is Expected to Have Far-reaching Effects and DOE and FERC Should Take Actions, Mar 05, 2021
This post first appeared on GAO Reports. Read the original article. What GAO Found Climate change is expected to have far-reaching effects on the electricity grid that could cost billions and could affect every aspect of the grid from generation, transmission, and distribution to demand for electricity, according to several reports GAO reviewed. The type (more…)
Texas Cold Crisis: Insurance Options for Severe Weather Disruption
This post first appeared on Risk Management Monitor. Read the original article. On February 15, a massive and unseasonal storm with frigid temperatures spiked the demand for power and outpaced the supply, severing power to 26 million Texans. Unpredictable weather patterns present risks for business owners, but also create an opportunity to improve their risk (more…)
Ransomware Attackers Turn to Double Extortion
This post first appeared on Risk Management Magazine. Read the original article. Last fall, clients of Finnish psychotherapy services provider Vastaamo were personally blackmailed after a data breach of the firm’s medical records. The attacker stole thousands of records after breaching Vastaamo in 2018, returned to steal more in 2019, and then tried to turn (more…)
Complying with Multiple Privacy Laws
This post first appeared on Risk Management Magazine. Read the original article. Worldwide, more than 130 different jurisdictions have introduced data privacy or data protection laws and regulations, a number that has steadily risen since enactment of the General Data Protection Regulation (GDPR) in 2018. Today, most organizations must contend with a variety of these (more…)
Evaluating and Improving Company Culture
This post first appeared on Risk Management Magazine. Read the original article. Culture can be an organization’s greatest asset or its most significant liability. “Companies that exhibit a winning culture, that have a strong internal compass and inspire their employees” are 3.7 times more likely to be business performance leaders, according to Bain & Company. (more…)