This year, the U.S. Securities and Exchange Commission (SEC) implemented rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure for Public Companies. These rules require listed companies to disclose material cybersecurity incidents within four business days and provide ongoing disclosures related to cybersecurity risk management, strategy, and governance. As the December 15 compliance deadline […]
Supercharging Data Management in the Climate-Risk Sector
The insurance industry and the broader risk management sector have long contended with Data Management issues. Updating and integrating legacy systems while ensuring quality across the board has proved difficult for most people in these fields. For those working in the climate solutions space, Data Management constitutes a challenge because of the diverse and dynamic […]
ESG: The Sustainable Business Revolution or Just a Passing Fad?
ESG stands for Environmental, Social, and Governance. It is a framework used to evaluate the sustainability and ethical impact of a company’s business practices. Environmental factors refer to a company’s own impact on the environment and the impact of their suppliers, including their carbon footprint, waste management, and resource conservation. Social factors include a company’s […]
Focus on Your Most Critical Data Lineage to Manage Risk
Data lineage is extremely important since unknowns in the data flow are a root cause of enterprise risk. Enterprise Risk Management and Data Governance professionals are teaming up to implement the “Three Lines of Defense” model (3LOD). The goal of 3LOD is to provide an early detection and risk mitigation warning system. Line 1 includes Management […]
How Digital Twins Can Optimize Supply Chain Planning and Efficiency
From the ongoing backlog at Southern California’s ports to the national shortages totaling more than 80,000 truck drivers, the COVID-19 pandemic has created myriad supply-chain challenges. With all of the changes and increased variables influencing the supply chain today, companies need a stronger understanding of various scenarios, and how those scenarios can impact a shipment at any […]
Empower Your Third Line of Defense for Effective Data Governance
Data Governance practitioners must incorporate all aspects that bind data to the organization. Internal audit, referred to as the third line of defense against risk, should actually be top of mind for implementing effective governance programs. The “Three Lines of Defense” model is an industry-recognized approach to enterprise risk management. The ultimate goal is to […]
Defining Principles, Elements, and Roles and Responsibilities in a Data Governance Policy
In previous blog posts, we defined the purpose, scope, and objectives of a Data Governance policy. In this blog post, we will complete the remaining sections needed for an effective Data Governance policy.
Shadow IT: Not a Problem or Worse Than Ever?
Click to learn more about author Jay Chapel. Shadow IT: you’ve probably heard of it. Also known as Stealth IT, this refers to information technology (IT) systems built and used within organizations without explicit organizational approval or deployed by departments other than the IT department. A recent survey of IT decision makers ranked Shadow IT as the lowest […]
Solving the Right Problem: A Case Study in Risk Management
Click to learn more about author Steve Zagoudis. “Successful problem solving requires finding the right solution to the right problem. We fail more often because we solve the wrong problem than because we get the wrong solution to the right problem.” – Russell L. Ackoff [1] Managing risk starts with identifying and solving the right […]
Defining Purpose, Scope, and Objectives in a Data Governance Policy
Click to learn more about author Steve Zagoudis. In the last blog, we defined how to determine the target audience for a Data Governance policy. In this blog, we will begin to define the actual Data Governance policy. There are at least two primary documents that govern most working groups or committees. The first is […]