It is our collective job as members of an organization to work towards mitigating and managing risks wherever we can, and this includes external risks that are often out of our control. In the case of a recession, while there is nothing a company can...
Risk Management Overview Risk management is the process of identifying, assessing, and controlling risks. This is crucial to the success of an organization as it impacts decision making and influences response to different incidents. An effective risk management plan allows you to navigate an environment of...
Importance of Implementing IT Compliance With the vast majority of businesses going digital, IT compliance is now more prevalent than ever. With that said, we wanted to utilize this blog post as an opportunity to educate our readers on the hot topic of IT compliance....
The Dangers of the Oil and Gas Industry The oil and gas industry easily has a large impact on the mass populations of the world, as they supply many useful products, the main one being gasoline. Though this industry is a large and prosperous one, it...
The Unnecessary Torture of Security Audits From financial services to healthcare, nearly every industry gets audited for security, and no one looks forward to it. Just the thought of getting audited can generate chaos, stress and headaches to those involved. But what if I told you,...
The downfall of Convenience The continuous advancement of technology is evergreen because of its advantages like easy access and instant gratification. From being able to shop for groceries from their living room, to having vehicles that drive themselves, consumers are loving the convenience that the cyber...
Financial Service Risk Over the last several years, the financial services industry has been hurdled with scandals and loss. Said scandals have cost financial companies millions of dollars and left them with a not so good look. Financial service risks are getting out of hand, so...
A supplier can be defined as a person or organization that provides a product or service to a vendor. Most all organizations use suppliers to provide goods and/or services to them. Though most do it, it must be done with caution, as there is a...
A vendor can be defined as a person or a company that offers some service or product for a fee. Many companies hire third-party vendors to help get jobs done in certain areas. Outsourcing comes with some benefits, such as expertise knowledge, without the hassle...
Risk consultants are so busy managing risk for other companies that they often don’t realize that they themselves also have risks to face, such as: missing deadlines, misplacing client documents, difficulty scheduling client interviews and more. But overall, the biggest risk here is performance. How...