583 words, 2.2 minutes read.
ISO 31000 Risk Management 1 big thing: Develop strong relationships across your organization while providing leadership in risk assessment.
The big picture: Be certain that your process reviews and evaluates state agencies Continuity of Operations (COOP) plans for compliance of overarching Emergency Management Agency (FEMA) and other applicable standards relating to Continuity of Operations.
Why it matters: Safeguard that your group is managing the local implementation of Group risk management policies, methodologies, standards, procedures, processes to drive embedded risk management across all types of risk management functions, and creating easily accessible enterprise reporting/dashboard for material risks and risk limits.
Yes, but: Make sure your company is researching and evaluating proposed network and ATM and business solutions for adherence to documented organization standards, policies and regulatory responsibilities.
What to watch: Secure that your group is identifying opportunities for improvement in key processes, driving strategic initiatives and implementing enhancements, managing technical projects including analysis and project tracking.
Between the lines: Work with compliance advisory and aml teams to perform the general compliance risk assessment, the risk assessments for aml, sanctions, anti- bribery and corruption and any other risk assessments rolled out by head office.
How it works: Provide support to developing guidance and tools used to lead (internal) clients with ERM projects, including tools to identify, assess, evaluate, treat, monitor and communicate enterprise level risks.
Meanwhile: Ensure your personnel leads development of and clearly articulates Companys safety vision, objectives, strategies, policies, and procedures to build a safety culture dedicated to behaviors which lead to best-in-class results.
State of play: Proactively analyze network traffic, system logs, and other sources using commercial or open/community source security scripts/tools to identify threats or incidents.
On the flip side: Design and maintain Enterprise Risk Management (ERM) processes and methodologies for business process documentation, records management and monitoring activities, corporate scorecard/metrics, risk management.
Under the hood: Assure your design develops new risk policies and strategies; contributes to ERM tools and methodologies to measure, monitor, and report risks; ensures proper application of risk management framework and controls.
A MESSAGE FROM THE ART OF SERVICE
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What they’re saying: “Review and monitor areas of risk in your organization information systems to ensure appropriate mitigation policies and procedures are in place where appropriate.”
The backdrop: Make sure your staff works together with ERM team and area leadership to effectively visualize the risk impact analysis for use by institutional leadership in strategic decision making.
The bottom line: Warrant that your strategy is researching and evaluating cyber recovery and protective solutions for adherence to documented organization standards, policies, and regulatory responsibilities.
What’s next: Ensure your high-performing team advises (internal) clients on the overall management and performance of their business through the lens of Enterprise Risk Management (ERM) including compliance, governance, and business resilience.
ICYMI: Be confident that your process supports coordination with various risk management programs, including, Model Risk Management, Third Party Risk Management, Loss Events, Privacy, and new revenue due diligence accountabilities for the Enterprise Risk Management Organization.
A MESSAGE FROM THE ART OF SERVICE
Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/