)
Last week, I attended an excellent Enterprise Risk Management (ERM) workshop hosted by NC State University which highlighted the myriad of issues impacting the maturity of ERM within organizations.
ERM lets companies take a broader, more methodical approach to identifying risk exposures and areas within the organization that could precipitate such event like a cyber breach.
The expenses an organization can incur as a result of a cyber breach can reach astronomical proportions and can negatively impact a company’s bottom line or in the most extreme cases bring the whole organization to a complete halt.
The article I co-authored with my colleague, Jon Edwards, Cyber Strategy and Enterprise Risk Management (ERM), provides a lot of useful links as well as the steps your organization can take to establish a proper risk framework.
While the topic of cyber security is at the top of the risk list for any CEO, instead they should consider how adopting an Enterprise Risk Management framework will give them greater transparency of the risk exposure their organization is facing.