WolfPAC Integrated Risk Management Blog

An Evolution of Data Security & Regulation

This is the third article of a three-part series for data security and data privacy. In the first article, the similarities and differences of data security and data privacy were discussed. In the second article, an example of a geographical regulation and its impact to risk managers and institutions was provided. In this third article, a historical context provides a framework to emerging privacy laws across the country, their impact, and the frontier law against cybersecurity threats.

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| Author Manny Centeio, tagged in Enterprise Risk Management, ERM, Risk Management, Regulatory Compliance, Cybersecurity, Information Technology, Business Continuity, Business Continuity Planning, IT Risk, Disaster Recovery, Disaster Recovery Planning, WolfPAC

Why Financial Institutions Could Benefit from a Virtual CRO (vCRO)

Do you become distracted with your enterprise goals and begin a trajectory down one path, only to find yourself abruptly changing your course of action? Do you find yourself looking for a definitive roadmap to follow when trying to align your risk management strategies with the objectives of your organization?

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| Author Randy Marsicano, tagged in Enterprise Risk Management, ERM, Risk Management, WolfPAC, vCRO, Virtual Chief Risk Officer

2020 CCPA: What Financial Institutions Should Expect

Just as we always welcome the new year on January 1, new regulations and requirements are there to greet us as well. One new law causing a lot of activity is the California Consumer Privacy Act (CCPA). First signed into law in June 2018, the CCPA took effect on January 1, 2020. Despite the CCPA 2020 enforcement date, the law has a 12 month lookback period for information that needs to be provided to consumers. This means that your organization needs to document and understand how it collects, uses, and shares consumers’ personal data dating back to January 1, 2019.

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| Author Cynthia Boehmer, tagged in Enterprise Risk Management, ERM, Risk Management, Compliance Risk Assessment, Regulatory Compliance, Cybersecurity, Information Technology, IT Risk Assessment, Business Continuity, Business Continuity Planning, Vendor Management, Vendor Risk, IT Risk, WolfPAC

Does a “Fits and Starts” Culture Drive your Risk Management Program?

We’ve all made that contractual purchase - the one where you sign your name to purchase a car and realize you are now confronted with deciding how to use all the new features and functionalities, where to navigate first, or even what errand to accomplish. Signing the contract to license WolfPAC, puts you in a similar driver seat, and empowers you to drive forward with a roadmap to finally complete all those risk assessments using a software package instead of clunky spreadsheets. Receiving a finding on your last exam could make you want to accelerate significantly to complete the outstanding risk assessments in WolfPAC.

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| Author Lisa Spampinato, tagged in ERM, Risk Management, Information Technology, WolfPAC

How Much of Your Capital is at Risk

 

 

Although a solid compliance program may not help you grow revenue, a weak compliance program can cost you plenty in the long run. On the other hand, ERM programs are different; a solid risk management program is a source of competitive advantage. If your Chief Risk Officer presents the ROI of new investment alternatives after having established a track record of documenting and monitoring ALL the threats to your business, instincts should be to assertively move forward if the rest of the business is sound. But, how do we know when ALL the threats are known and how do we know if serious danger is not on the horizon?

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| Author Mike Cohn, tagged in Enterprise Risk Management, ERM, Risk Management, Operational Risk, Compliance Risk Assessment, Regulatory Compliance, Cybersecurity, Information Technology, IT Risk, WolfPAC

HIMSS 2019: OCR Asserts the Importance of Continued Risk Assessment Programs

At the recent HIMSS 2019 Conference in Orlando, I was able to attend a number of informative sessions focused on risk management. One session in particular that stood out was the update from the U.S. Department of Health and Human Services (HHS) Office of Civil Rights (OCR), given by Roger Severino, Director, and Nick Heesters, Health Information Privacy Security Specialist.

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| Author Kevin Creedon, tagged in Risk Management, Compliance Risk Assessment, Cybersecurity, Information Technology, IT Risk Assessment, Vendor Management, Vendor Risk, IT Risk, Disaster Recovery, Disaster Recovery Planning, WolfPAC

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