Tag: risk management

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Latest Read: Cybersecurity: The Insights You Need

Cybersecurity: The Insights You Need from Harvard Business Review.

Cybersecurity: The Insights You Need from Harvard Business Review

So let’s start with the end in mind to avoid all misunderstandings: this is targeted to every leader and board member regardless of market or industry. They simply must fully comprehend why cybersecurity has been and always will be an ongoing risk.

This is a well written, high level and most importantly a non-technical overview of cybersecurity. This risk can no longer be overlooked by organizations and delegated like it was 1994. Today more than ever before cybersecurity impacts your bottom line, including non-technology based organizations.

And in 2024 we can simply cut to the chase. If your organization’s cybersecurity service is not AI based, it is time to pivot to a vendor that deploys machine learning services to protect your organization, your data and most importantly, your customer data. Just query your insurance carrier for a list of approved vendors that deploy AI cybersecurity services. For the most part the pandemic made this pivot mandatory.

In fact, cyber risk management can no longer be isolated to your organization’s CIO and CISO. This is simply an organization-wide issue. Today every organization’s technology services group have become the key component for organizational success.

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Latest Read: Skin in the Game

Skin in the Game: The Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb. Nassim is a mathematical statistician, and risk analyst. Today he is a Distinguished Professor of Risk Engineering at New York University.

Skin in the Game

He is a co-editor-in-chief of the academic journal Risk and Decision Analysis since September 2014. Nassim has also been a practitioner of mathematical finance, a hedge fund manager, and a derivatives trader.

His previous book The Black Swan is via The Sunday Times (London) one of the 12 most influential books since World War II. Simply cannot believe it has been 14 years since I read this book. In addition, it would appear that having The Black Swan under your belt helps keep his messaging here accurate.

He has written a five volume set regarding uncertainty called Incerto. In Skin in the Game, Talib mixes a series of ancient fables and maps them to modern subjects. In the age of iPhones and COVID however, these stories seem out of the ordinary in standing up a fable from 2,500 years ago.

However, attempts to apply Wall Street commissions seems like a phish out of water today. As an example, Robert Rubin, the former US Secretary of the Treasury accepted $120 million in compensation from Citibank as the bank was trading at $0.97/share. Rubin’s position was declaring a ‘Black Swan’ event.

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Cyberinfrastructure Education Network Ransomware Technology

Harvard Cybersecurity

Harvard’s cybersecurity course is certainly a demanding slice of your life. However, I gained valuable insights from Eric Rosenbach and cybersecurity leaders from National Security Agency, Akamai, and Google. In addition, this offered me an opportunity to connect with cybersecurity leaders across wide ranging business and geographic locations.harvard cybersecurity2018 proved a challenge, looking beyond repeated megabreaches that dominated news headlines. Did you suffer from breach fatigue? It was like the movie Groundhog Day.

At some point (probably sooner than we think) all the data impacting all the users connected to the global internet will all be available on the dark web. All for a price…

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Latest read: Online Payments Risk Management

Online Payments Risk Management is certainly a hot topic. The 2013 holiday data breach at Target and more recently, a new large data breach at Home Depot the need for organizations to understand Online Payments Risk Management is more important today truly than ever before.
online payments risk managementI think there is no better way than for companies and payment card providers to step back and acknowledge many “security” measures are not effective today in combating cyber crime.

Ohad Samet’s book is a great introduction to payment risk management from multiple angles and can be a good base document to build upon in bringing PCI compliance efforts to online payment websites.

It may even be interesting to see how Samet positions of Loss over Fraud.  The implications can be rather surprising.

Samet has organized this book into logical sections regarding approaches and the use of analytics to optimize tracking losses while also addressing the role of the organization and the people implementing secure transactions.  Regardless of its 2013 publication, section 3 on Tools and Methods provides solid, industry tested solutions that should be reviewed annually.

That said its time to roll up your sleeves and begin protecting consumers.