A Poor Balance of Interests: The Crucial Role of Corporate Directors
A Poor Balance of Interests: The Crucial Role of Corporate Directors Written by Amani Tuntufye, Principal Officer of TAPEX Reinsurance Brokers Ltd, Tanzania. “Anybody can manage short. Anybody can manage long. Balancing those two things is what management is”. Jack Wetch, General Electric CEO. “ But light and darkness cannot harmonize. Between truth and error there is an irrepressible conflict. To uphold and defend the one is to attack and overthrow the other”. Ellen G. White.
Read more6 Tips for Improving Network Security
6 Tips for Improving Network Security In recent years, the rising cost of cyber insurance premiums has become a major concern for enterprises of all sizes. This rate environment has been driven, in part, by the drastic increase in cyberattack claims globally. In fact, S&P Global analysts recorded a staggering 232% increase in ransomware claims from 2019 to 2021. Due to the interconnected nature of cyberattacks, cyber insurers are even reevaluating what gets covered—such as social engineering campaigns or state-sponsored attacks—to ensure that they can sustain systemic risks.
Read moreKey Cybersecurity Threats To Watch For
Key Cybersecurity Threats To Watch For Cybercrime has become more lucrative and is occurring more frequently than ever before. Owing to our growing dependence on technology, a ransomware attack now hits an organization every 11 seconds. Simply put, the more we adopt and use digital technology, the more opportunities there are for criminals to profit from emerging vulnerabilities. Despite growing awareness and increased spending by organizations to protect themselves and to build resilience in the event of a successful attack, specific cyberthreats will continue to proliferate.
Read moreEmbracing Disruption, Managing Risk: Strategies for Navigating Emerging Technology Landscape
Embracing Disruption, Managing Risk: Strategies for Navigating Emerging Technology Landscape In an era defined by rapid technological transformation, organizations are confronting an intricate disruption while managing the associated risks. The emerging technology landscape offers boundless opportunities, but with it comes a set of new challenges, from cybersecurity threats to regulatory hurdles. Navigating this evolving terrain requires a multifaceted strategy, one that integrates foresight, agility, and robust risk management protocols.
Read moreRisk, Resilience, and the Rise of Emerging Technologies: Preparing for the Future
Risk, Resilience, and the Rise of Emerging Technologies: Preparing for the Future In today’s rapidly changing business landscape, the link between risk management, resilience, and emerging technologies has never been more pronounced. The arrival of digital innovations, from AI-driven analytics to blockchain, brings with it both unprecedented opportunities and challenges. Organizations keen to stay competitive must not only adapt to these changes but anticipate potential disruptions and mitigate the risks they pose. As we delve into this matter, the importance of a robust Enterprise Risk Management (ERM) framework becomes evident.
Read moreCelebrating Excellence in Risk Management: ERMA Announces Winners of ASEAN Risk Awards 2023
Celebrating Excellence in Risk Management: ERMA Announces Winners of ASEAN Risk Awards 2023 SINGAPORE, July 7, 2023 — Enterprise Risk Management Academy (ERMA) has revealed the esteemed winners and runners-up of the ASEAN Risk Awards 2023. Following intense competition from hundreds of nominations, 16 organizations and two individuals from Southeast Asia have been selected for their exemplary achievements in seven award categories.
Read moreThe Importance of Risk Assessment: Safeguarding Success Amidst Uncertainty
The Importance of Risk Assessment: Safeguarding Success Amidst Uncertainty In today’s fast-paced and unpredictable world, the ability to identify and manage risks effectively has become paramount for individuals, businesses, and organizations across various sectors. Risk assessment, the process of evaluating potential threats and vulnerabilities, plays a crucial role in mitigating uncertainties and safeguarding success.
Read moreBuilding a Resilient Organization: Effective Risk Management Strategies for Businesses
Building a Resilient Organization: Effective Risk Management Strategies for Businesses In today’s dynamic and unpredictable business environment, organizations face a myriad of risks that can impact their operations, profitability, and overall success. Building resilience requires businesses to implement effective risk management strategies that proactively identify, assess, and mitigate potential risks.
Read moreHow to Measure Risk Capacity for Strategic Initiatives
How to Measure Risk Capacity for Strategic Initiatives Enterprise risk management is evolving into holistic risk portfolio management. This means eliminating unwanted risks to create room for smart risk-taking on high-return strategic business initiatives. Managing risk on a holistic level poses challenging questions, including:
Read moreBuilding an Effective Risk-Aware Culture
Building an Effective Risk-Aware Culture While seemingly cliché, the saying “everyone is a risk manager” is simple but absolute. An organization is run by its people and their knowledge in managing risk is a key component to strategic business planning and success.
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