Your monthly update of enterprise risk management news and information

NOTE: If you cannot read this newsletter properly visit www.continuitycentral.com/risktopicsaugust2019.html

ClearView

Organizations need to do more to manage third party risks says US Chamber of Commerce
The Q2 Assessment of Business Cyber Risk (ABC) report released by the US Chamber of Commerce and FICO recorded a National Risk Score of 688, a slight improvement over the previous quarter's score of 687.
Read the article
• US / World

Point-in-time approach to third-party risk management is no longer effective says Gartner
A Gartner survey of more than 250 legal and compliance leaders reveals that the standard point-in-time approach to risk management is no longer effective in today's landscape of fast-paced, rapidly changing business relationships.
Read the article
• US / World

Has the crisis communications ‘golden hour’ disappeared?
The rapid growth of social media, fuelled by camera-enabled smart phones, is obvious for all to see, and it has had fundamental impacts on society. But what about its impacts on crisis communications? Victoria Cross suggests that it has resulted in the disappearance of the traditional ‘golden hour’.
Read the article
• UK / World

Assurance Software

IoD member survey finds that businesses are struggling to prepare for a no-deal Brexit
The odds of the UK leaving the European Union on 31st October without a deal seem to be increasing, but an Institute of Directors study has found that half of businesses surveyed say that they ‘cannot be fully prepared’.
Read the article
• UK

Most ERM frameworks don't factor in reputation…
In an article on the Airmic website, Kasper Nielsen, chief strategy officer at the Reputation Institute, says that most organizations still don't understand how to manage their reputation.
Read the article
• World

Cyber insurance may create false sense of security among senior financial executives suggests survey
Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee, however, are rarely covered by insurance. This is according to a new FM Global survey.
Read the article
• US / World

Daisy

First ever guidelines on public risk management published
Underwriters Laboratories (UL), a global safety science leader, has announced the publication of ‘CAN/UL 2984, Management of Public Risks – Principles and Guidelines’.
Read the article
• Canada / World

Latest Emerging Risks Monitor Report shows that ‘pace of change’ is the top emerging risk
Organizations are concerned about their ability to keep up with a rapidly changing business landscape, driven in part by concerns about their own organizations’ lagging and misconceived digitalization strategies, according to Gartner, Inc.’s latest Emerging Risks Monitor Report.
Read the article
• US / World

BEC attacks: a low profile but increasingly damaging risk
In 2018, the costs of Business Email Compromise (BEC) attacks passed the $1 billion mark, doubling from the prior year. Crane Hassold looks at the issue and highlights the measures that organizations can take to reduce the risk of becoming a victim of a successful BEC attack.
Read the article
• World

Risk Logic

5G networks: EU Member States complete national risk assessments
Following the European Commission’s recommendation for a common European approach to the security of 5G networks, 24 EU Member States have now completed the first step and submitted national risk assessments.
Read the article
• Europe

UK mid-market boards are ‘ignoring cyber risk’; only a minority have a cyber incident response plan
New research from Grant Thornton UK LLP has found that 63 percent of UK mid-market businesses do not have a board member responsible for cyber security. Additionally, over half of the business surveyed (59 percent) do not have a cyber incident response plan in place.
Read the article
• UK

Sam Mannan's Safety Triad: a framework for risk assessment
In a paper published in the latest issue of the Process Safety and Environmental Protection Journal, Michael O'Connor, Hans J.Pasman, and William J.Rogers from the TEES Mary Kay O'Connor Process Safety Center, look at the use of Sam Mannan's Safety Triad in organizational protection.
Read the article
• US / World

eBRP

Survey finds that cyber security budgets are up; with additional investments being made in risk identification and resilience
Companies worldwide expect to boost their cyber security investments by 34 percent in the next fiscal year, after raising them by 17 percent the previous year, according to a new study covering 467 firms across industries and based in 17 countries.
Read the article
• World

Inadequate identity practices are exposing many businesses to risks
LastPass by LogMeIn has announced the results of a new study conducted by Vanson Bourne to offer businesses insights into the state of identity and access management (IAM) and actionable steps to improve their IAM programme.
Read the article
• World

Report identifies the top climate risks for Canada and looks at resilience by adaptation
An expert panel convened by the Council of Canadian Academies (CCA) has identified Canada's top climate change risks and determined that many costs and damages could be avoided with ‘prompt and thoughtful’ adaptation.
Read the article
• Canada

Fortress

UK CFOs see Brexit and geopolitics as posing the two greatest risks to their businesses
More than eight in ten CFOs (83 percent) say they expect the long-term business environment to deteriorate as a result of the UK leaving the EU, according to Deloitte’s latest Q2 CFO Survey. This is the highest reading since the referendum in June 2016.
Read the article
• UK

To combat potential risks, organizations need to take a holistic approach to responsible AI practices
The estimated $15.7trn economic potential of artificial intelligence (AI) will only be realised if the integration of responsible AI practices occurs across organizations, and is considered before any developments take place, according to a new paper by PwC.
Read the article
• World

IEC 31010:2019 - updated standard for risk assessment techniques now available
ISO has announced the availability of an updated standard, IEC 31010:2019 ‘Risk management - Risk assessment techniques’. This provides guidance on the selection and application of techniques for assessing risk in a wide range of situations.
Read the article
• World

CALL FOR PAPERS

Written a relevant article or white paper? We'd like to consider it for publication on Continuity Central. Simply e-mail editor@continuitycentral.com

You have subscribed to this newsletter. To unsubscribe visit:
http://www.continuitycentral.com/index.php/unsubscribe or e-mail webmaster@continuitycentral.com

Read our privacy policy at https://www.continuitycentral.com/index.php/privacy-and-cookies

This email was from: Portal Publishing Ltd, PO Box 1393, Huddersfield, HD1 9TN, UK

Continuity Central is a registered trademark