The novel coronavirus is providing a catastrophic lesson on how critical it is for business leaders to come together to share information about the different kinds of risks being triggered by this single root cause event. No single risk associated with the COVID-19 pandemic crisis can be managed in isolation given there is an interconnected aspect to these risks and how organizations can address them.
Passenger Rail Security: TSA Engages with Stakeholders but Could Better Identify and Share Standards and Key Practices, Apr 03, 2020
This post first appeared on GAO Reports. Read the original article. What GAO Found The Transportation Security Administration (TSA) assesses passenger rail risks through the Transportation Sector Security Risk Assessment, the Baseline Assessment for Security Enhancement (BASE), and threat assessments. TSA uses the risk assessment to evaluate threat, vulnerability, and consequence for attack scenarios across (more…)
Eye of the Beholder: Understanding the Psychology of Risk Perception to Improve Risk Management
This post first appeared on Risk Management Magazine. Read the original article. Individuals perceive risks in markedly different ways. One person may consider a risk to be critical, while another could consider it inconsequential. Often rooted in psychology, these differences in risk perception can create challenges for risk professionals, especially when designing and implementing an (more…)
Coronavirus Causes Global Business Upheaval
This post first appeared on Risk Management Magazine. Read the original article. In Allianz’s Risk Barometer 2020, 17 years after the SARS outbreak, risk professionals ranked pandemics 17th on their list of top global risks for the year. Business interruption, including supply chain disruption, ranked second. By the end of the first quarter, countless companies (more…)
Operational Risks in the Cannabis Industry
This post first appeared on Risk Management Magazine. Read the original article. The U.S. legal cannabis industry has been booming as more states legalize medical and/or recreational use. In its U.S. Cannabis Report 2019 Industry Outlook, cannabis research firm New Frontier Data found that total legal sales will have a compound annual growth rate of (more…)
Planning for Your Next Crisis
This post first appeared on Risk Management Magazine. Read the original article. In December, Stephanie Korey, CEO of luggage maker Away, stepped down in the wake of news coverage claiming she had created a toxic workplace. The evidence about Korey’s behavior came via her messages to (and about) her employees on the popular workplace messaging (more…)
How to Prepare Your Business for the Corona Virus or Another Pandemic?
For business leaders, the advent of “2019-nCoV acute respiratory disease”, also known as the novel Corona Virus, may be looked upon as a valuable opportunity to examine your business continuity protocols.
Putting Risk Management on the Front Line
This post first appeared on Risk Management Monitor. Read the original article. Businesses in India expressed an overwhelming desire to approach risk management more strategically in this year’s Excellence in Risk Management India report, with 68% of respondents deeming “integrating risk management into strategic planning” their top priority. Today, managing risk intelligently is everyone’s responsibility—not (more…)
Coronavirus news being used to sneak malware past AV programs
The breach at one of the networks of the Defense Information Systems Agency (DISA), which secures communications for President Trump and military intelligence and other government officials, affected as many as 200,000 people
New Cyber Risk Management Concerns for Directors & Officers
This post first appeared on Risk Management Magazine. Read the original article. Never has senior management been faced with so many daily organizational threats stemming from computer-enabled perils. Risk management for protection of senior officers and the board has taken on new dimensions with unparalleled cybercrime and sweeping new data privacy regulations. The coronavirus pandemic (more…)