Enterprise Cyber Risk Management As A Value Creator Leverage Cybersecurity For Competitive Advantage 1st Edition Bob Chaput - Solutions

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Produce examples of the risks associated with outsourcing and how these risks can be successfully managed.
Describe the importance of the supply chain and the contribution of supply chain risk management to the success of the organization.
Summarize the alternative approaches to defining the upside of risk and the application of these approaches for core processes.
Describe the main components of loss control as loss prevention, damage limitation and cost containment, and provide practical examples.
Describe the key stages in the risk management process and the main components of a risk management framework.
Explain the importance of the relationship between the external context, internal context and the risk management context.
Describe the scope and importance of establishing the context as the first stage in the risk management process.
State the key features of the best-established risk management standards, including ISO 31000, the COSO ERM cube and the IRM standard.
Produce examples of risk reporting approaches adopted by different types of organizations, including companies, charities and government agencies.
Discuss the importance of risk reporting and the range of risk reporting obligations placed on companies, including Sarbanes–Oxley.
Describe the activities involved in an ERM initiative and how these can be allocated to internal audit, risk management and line management.
Describe the activities of a typical internal audit function and the relationship between internal audit and risk management.
Summarize the importance of risk assurance and identify the sources of risk assurance available to the board/audit committee (CRSA).
Explain the importance of governance, risk and compliance (GRC) and the relationship to the three lines of defence model.
Summarize the importance of the control environment in an organization and provide a structure for evaluating the control environment (CoCo).
Describe the nature and purpose of internal control and the contribution that internal control makes to risk management.
Describe the key features of a project risk management system, such as the project risk analysis and management (PRAM) approach.
Produce a brief description of the project lifecycle and the importance of risk management at each stage.
Describe the key sources of operational risk in financial institutions and provide examples of how these risks are managed.
Summarize the key features of operational risk as practised in financial institutions such as banks and insurance companies.
Explain the importance of stakeholder expectations and how these can be managed by effective dialogue and communication.
List the different types of stakeholders of a typical organization (CSFSRS) and explain their influence on risk management.
Outline the importance of evaluating the performance of the board and board committees and how this relates to corporate governance.
Describe the key features of a corporate governance model and describe the links to risk management in different types of organizations.
Outline the people skills required by a risk practitioner summarized as communication (5Cs), relationship, analytical and management (CRAM).
Explain the features of a risk competency framework and the relationship to plan, implement, measure and learn (PIML).
Summarize the importance of risk training and risk communication, including the use of risk management information systems (RMIS).
Explain the importance of risk training and risk communication, and the influence on the risk culture of an organization.
Review the nature of risk appetite statements and how these can be used to influence decision making within organizations.
Describe the importance of risk appetite and how this can be demonstrated on a risk matrix, together with the risk exposure and risk capacity.
Describe the components of risk maturity of an organization (4Ns) and the influence on risk management activities (FOIL).
Describe the key features of a risk-aware culture (LILAC) and how the key components are defined and can be measured.
Describe the process of learning from controls in order to ensure that controls are cost-effective and risk/reward decisions are appropriate.
Produce practical examples of the control of selected hazard risks, including risks to finances, infrastructure, reputation and marketplace.
Explain the importance of the allocation of risk management responsibilities, including the governance responsibilities of non-executive directors.
List the main sections of a typical risk management manual, describe the importance of each section and summarize the range of risk documentation and records.
Explain the key components of the risk architecture, strategy and protocols(RASP) for an organization and how these fit together.
Explain the importance of corporate social responsibility, including supply chain, ethical trading risks and the importance of reputation.
Outline the components and the importance of the business model and how this is supported by the resilience of the organization.
Explain the importance of dynamic business models and the relationship with strategy, tactics, operations and compliance (STOC) activities.
Describe the approach taken during a business impact analysis (BIA) and the importance of established business continuity standards, such as ISO 22301.
Summarize the importance of business continuity planning (BCP) and disaster recovery planning (DRP) and provide practical examples.
Explain the importance to the insurance purchasing activity of cost, coverage, capacity, capabilities, claims and compliance (6Cs).
Describe the importance and structure of insurance, the circumstances in which insurance is purchased and the purpose of a captive insurance company.
Explain the use of a risk matrix to identify the main type of control for different types of hazard risk and the concept of ‘hazard risk zones’.
Describe the types of controls that are available, in terms of preventive, corrective, directive and detective (PCDD) controls.
Explain the benefits of using a risk matrix to illustrate inherent, current and target levels of risk and the effect of controls.
Describe the risk response options in terms of tolerate, treat, transfer and terminate (4Ts), and explain how these can be shown on a risk matrix.
Provide examples of the use of a risk matrix, including using it to indicate the dominant risk response in each quadrant: tolerate, treat, transfer and terminate(the 4Ts).
Illustrate, by using a risk matrix, the risk attitude of an organization and the importance of the concept of the ‘universe of risk’.
Explain the attributes of each risk characteristic and illustrate by means of a risk matrix the nature and attributes of a risk in terms of likelihood and impact.
Describe the importance of risk classification systems and describe the features of the established systems, including PESTLE, FIRM and the 4Ps.
Describe options for classifying risks according to the nature, source, timescale, impact and consequences of the risk.
Explain the importance of the long-term attitude of an organization to risk and how that affects the perception of risk.
Summarize the most common risk assessment techniques, plus the advantages and disadvantages of each technique, including SWOT.
Describe the importance of risk assessment as a critically important stage in the risk management process.
Explain the importance of reviewing the progress of a risk management function.
Outline the need to set performance objectives.
Outline some alternative approaches to risk management.
Outline the difference between resilience and risk management.
Outline the concept of ‘emerging risks’.
Consider the changing face of risk management and the increasing importance of managing emerging risks.
Outline the steps required in order to achieve successful implementation of an enterprise risk management initiative.
Explain the features of an enterprise-wide approach to risk management and the various available definitions of ERM.
Describe the key outputs of risk management in terms of mandatory obligations, assurance, decision making and effective and efficient core processes.
Summarize the principles (proportionate, aligned, comprehensive, embedded and dynamic) and aims of risk management and its importance to strategy, tactics, operations and compliance.
Explain the characteristics and benefits of enterprise risk management.
Identify the features of compliance risks, hazard risks, control risks and opportunity risks.
Summarize the options for the attachment of risks to various characteristics of an organization and describe the advantages of each approach.
Identify the characteristics of a risk in order to provide a full risk description and justify the inclusion of each item.
Produce and articulate a range of established definitions of risk and risk management, and describe the efficacy of these definitions.
Summarize the origins and development of the discipline of risk management, including the various specialist areas and approaches.
Sometimes, an organization will require more than just customer service support for an ECRMS solution. If this is the case, it is essential to know whether the vendor provides services above and beyond the provision of an ECRMS solution. For example, in addition to the software, does the vendor
Does the ECRMS solution vendor have a formal customer feedback process and metrics established to track customer satisfaction with the product? For example, do they conduct annual or periodic surveys or reviews to collect customer feedback? How do they incorporate that feedback into their ECRM
Is the vendor of the ECRMS solution well-known in the industry for customer satisfaction? What is the evidence? For example, have independent, third-party evaluators recognized and rewarded the vendor? If they have been so recognized, what kinds of customer comments have they garnered?
Can the vendor provide you with independently verifiable customer references? Are they willing to provide you with contact information for previous and existing customers?
How long has the ECRMS solution you are considering been on the market? Has it been used in the industry long enough to prove its value? Or is it a beta version, which may be riddled with unresolved problems?
Has the specific ECRMS solution you are considering earned any significant industry recognition, endorsements, or awards?
Do your peers in the industry have any experience with the ECRMS solution you are considering? If so, was their experience a good one?
Can the prospective service provider provide you with independently verifiable customer references that can discuss their creation of business value beyond cybersecurity defense? Are they willing to provide you with contact information for previous and existing customers?
Does the prospective service provider establish a formal customer feedback process to track customer satisfaction? For example, do they conduct annual or periodic surveys or reviews to collect customer feedback? How do they incorporate that feedback into their solutions and services?
Is the prospective service provider well-known in the industry for customer satisfaction? What is the evidence? Have they been recognized and rewarded by independent evaluators? If they have been so recognized, what kinds of customer comments have they garnered?
Has the prospective service provider identified the individuals who will lead the partnership with your organization and identified the means of communication with those individuals? Do these individuals have the business savvy to generate a competitive advantage for your organization?
Has the prospective service provider offered a timeline, including benchmarks and a transparent process for communication, so that they will fully inform your organization about every step in the ECRM implementation process and every milestone achieved?
Do the tangible ECRM work products described include those that create shareholder value, drive growth, enable business, or produce competitive advantage?
Has the prospective service provider offered a clear and measurable description of the tangible ECRM work products (i.e., risk mitigation and opportunity leverage) your organization will receive because of the engagement?
Does the prospective service provider have a track record for implementing robust defensive cybersecurity strategies and valuecreating leverage opportunities?
If the prospective service provider has a history of working with organizations like yours, what has been their ECRM track record with those organizations? That is, have the client companies of the prospective service provider suffered any severe data breaches since the engagement of the
How long has your prospective service provider worked in cyber risk and opportunity management? Do they have years of experience, or are they a brand-new company with a bit of history?
Has the prospective service provider earned significant industry recognition, endorsements, or awards for cyber risk mitigation and leveraging cyber opportunities?
Do peers in your industry have any experience with the service provider you are considering? If so, was their experience a good one?
How has the prospective service provider been a thought leader, contributing to increased awareness and education about cyber risk and opportunity management within your industry? For example, does the provider educate, inform, and give back to your industry, above and beyond the commercial
What is the depth and breadth of the prospective service provider’s ECRM experience in your industry?a. How many years have they worked in your industry?b. How many different clients have they served in your industry?c. Have they published customer success stories about business value creation?
How has the prospective service provider given back to your industry (e.g., through industry association participation, NIST collaboration, and advocacy group support)?
Should your organization decide to proceed independently after an initial engagement, does the prospective service provider’s solution equip your organization to become self-sufficient in conducting ECRM?
Does the prospective service provider’s solution facilitate ongoing monitoring and change management to adapt your ECRM program as your organization’s vision, mission, strategy, values, and services evolve?
Does the prospective service provider’s solution facilitate the continuous improvement (i.e., maturity) of your ECRM program?
Does the prospective service provider’s solution provide multiple reporting levels and delegation of responsibility (e.g., by facility, line-of-business, process, etc.) to enable engagement and accountability across your entire enterprise?
Does the prospective service provider offer a scalable software solution to facilitate and automate an ECRM program? (See Appendix B for more information about choosing an ECRM software solution.)
Does the prospective service provider offer all the tools and services needed to establish, implement, and mature a comprehensive ECRM system (i.e., a proven methodology based on industry standards, comprehensive consulting services, and a software solution)?

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Enterprise Cyber Risk Management As A Value Creator Leverage Cybersecurity For Competitive Advantage 1st Edition Bob Chaput - Solutions

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