This post first appeared on Risk Management Magazine. Read the original article. Artificial intelligence (AI) and the internet of things (IoT) offer tremendous business value, transforming companies as we know them and creating altogether new ones. Adoption of both technologies are quickly on the rise: according to eSentire’s FutureWatch report, 44% of businesses are actively (more…)
RIMS NeXt Gen Forum Offers Insights for Rising Risk Professionals
This post first appeared on Risk Management Monitor. Read the original article. “We’re becoming numb to the news,” said risk management veteran and author Joseph Mayo. “We’ve seen a 1,200% increase in daily record loss in the last five years. Globalization has created faster-moving and infinitely more complex risks and that’s what we have to (more…)
The Risk Management Framework Is Dead. Long Live the RMF.
This post first appeared on Next Gov. Read the original article. A framework is just that: a frame of reference from which to adapt according to your needs and situation. The need for effective cybersecurity in the federal government is more important now than ever before. Dr. Ron Ross, fellow at the National Institute of (more…)
Assessing the Legal Risks in AI—And Opportunities for Risk Managers
This post first appeared on Risk Management Monitor. Read the original article. Last year, Amazon made headlines for a developing a human resources hiring tool fueled by machine learning and artificial intelligence. Unfortunately, the tool came to light not as another groundbreaking innovation from the company, but for the notable gender bias the tool had (more…)
DOD Acquisition Reform: Leadership Attention Needed to Effectively Implement Changes to Acquisition Oversight, Jun 05, 2019
This post first appeared on GAO Reports. Read the original article. What GAO Found The Department of Defense (DOD) has made progress in implementing reforms to restructure the oversight of major defense acquisition programs. As a result of one of these reforms, decision-making authority for many programs shifted from the Office of the Secretary of (more…)
Sworn to Secrecy: Protecting Trade Secrets and Intellectual Property
This post first appeared on Risk Management Magazine. Read the original article. A company’s trade secrets are often among its most valuable intellectual property. As a result, companies will often go to great lengths to legally protect their trade secrets. For example, in the autonomous vehicle market, Uber, Tesla and WeRide have all been engaged (more…)
Checks and Balances: Reevaluating the Role of External Audit
This post first appeared on Risk Management Magazine. Read the original article. In a perfect world, companies would always give full, truthful and accurate details to investors, regulators and other stakeholders about the state of their finances and the risks to their businesses. Unfortunately, that is simply not the case, making it critical to have (more…)
New Opioid Lawsuits Hold Executives Liable
This post first appeared on Risk Management Magazine. Read the original article. In April, federal authorities charged Rochester Drug Cooperative and two of its former executives with unlawfully distributing oxycodone and fentanyl and conspiring to defraud the Drug Enforcement Administration, fueling the opioid epidemic in the United States. While not a household name, RDC is (more…)
Preparing Employees for Travel Risks
This post first appeared on Risk Management Magazine. Read the original article. The United Kingdom voted to leave the European Union three years ago, and the ensuing governmental wrangling continues to mire the country in political and economic uncertainty. This includes on the border of Ireland and Northern Ireland, where a group calling itself the (more…)
Economic Factors Drive Top Risks
This post first appeared on Risk Management Magazine. Read the original article. Economic slowdown or slow recovery was ranked as the top risk facing businesses this year, according to Aon’s 2019 Global Risk Management Survey, followed by reputation or brand damage. “Accelerated rates of change in market factors” was third, up from 38th in 2017, (more…)