IMPLEMENTING RISK MANAGEMENT
Security threats and breaches are a major topic of discussion in the boardrooms of Fortune 1000 companies and non-profits today. Long gone are the days of the security director who is only responsible for a visible presence with guards at the entrances of buildings or responding to a personal theft or fire in the building. In the last 10 years, the definition of ‘security’ has expanded beyond physical assets to include customer data, product integrity and the corporate image.
This expansion gradually changed the internal day-to-day corporate operations structure and processes. Corporations have been forced to take a different approach to mitigating security risk of all types, in ways they have never been challenged before. Bernie Madoff, Edward Snowden, Target, the Sony Corporation and major utility power grid blackouts on both the east and west coast of the US have had organisations suddenly assessing their preparedness on multiple fronts. Internal theft, fraud and hacking are all ways of destroying a corporation’s image and reputation. Will you be able to survive?
Substantive discussions should be taking place in this new era of security challenges. Corporations need to think globally and ask the question, “How much are we willing to risk?” If the answers are, “We don’t keep anything important in our facilities”, “No one is interested in what we have”, or “We really don’t have much to risk”, then you and the company are in serious jeopardy.
The risk management solution
Risk management is not just closing the holes or ignoring vulnerabilities thinking they will go away on their own; it’s realising the loss of revenue, plummeting company stocks and evaporating company assets that can result from a security breach. The long-term effects would be significant. Can your organisation withstand these types of challenges?
Jul-Sep 2015 Issue
CLT3 Consulting, LLC