Risk Management: An Important Aspect for Your Firm

When it comes to risk management, it is such a service that is known to all the business professionals and the organisations in all the industries of the Global market. Everybody knows this for a fact that risk management helps stipulated companies to assess, evaluate, analyse, monitor, and tackle all sorts of risks and threats that are directed towards jeopardizing the overall achievement and success of the organisation’s strategic objectives in a way that is both disciplined and systematic at the same time. Risk management is obviously intentionally proactive, because it can prevail in a particular organisational structure in the form of a caution given by one employee to the other co-worker. On the other hand, it can also involve complex tasks like full asset allocation modelling of all the capital assets of the stipulated company. In a nutshell, risk management is such a service that can be applied to a broad range of events that include the minute and the larger aspects at the same time. Therefore, we can agree to the fact that risk management consultants always hold the position of being one of the most important professionals required by any organisation in any industry of the global market. But obviously, we are not here to discuss the pre-stated importance of risk management as a service, and risk management consultancy as a role within the corporate world. On the contrary, this literary piece unfolds the benefits of implementing risk management services in a particular organisational structure. This can also be viewed as a step taken in order to motivate all the small and medium scale organisations to focus on risk management services and implement them within their companies so that the friction caused due to its absence is reduced on the larger scale. WHY YOU SHOULD IMPLEMENT IT? One of the prominent reasons why risk management is a must for all the companies in the corporate world is the fact that it enhances the overall management including the day-to-day and the long-term situations lingering within the organisation. When we say that a specific risk management model is helpful for the internal structure of a stipulated company, we stress on the fact that if the risk management section is governed properly by the top level management of the company, it helps all the employees to focus on any mishappening of any scale. On that note, a well structured risk management section within an organisation also helps in streamlining all the operations effectively because it makes the employees understand the procedure. This makes them execute their specific roles within the company with great efficacy. Not only this, but risk management also helps your organisation in the long run by improving the overall financial management of the company. Everybody knows that losses, lawsuits, and diamonds to the company of any kind lead to additional costs that a company has to bear out of the pocket. Risk management helps the company by mitigating these costs. WHAT SHOULD BE A LOGICAL STEP FROM YOUR END? Considering that the larger part of the corporate world is filled with organisations who are still thinking about implementing these services in the correct way, we can conclude this analogy by suggesting them to focus on hiring the best professional candidate available in the market who can help them by structuring the best strategies. Adding further to the discussion, you can always look up to Assured GRC, because it is the comprehensiveness and our satisfied clientele, which makes the best risk management consultants in the UK and in the world. Assured GRC starts with identifying the scope of the context for the risk assessment process of your organisation and after identifying the assets within the context; we value the assets and identify the threats directed towards those assets. After identifying the threats, we evaluate and mitigate them effectively. We understand that risk management consultancy services are important in a way that it helps our clients’ organisation to build a table structure within their organisation. So if you think that your organisation needs our comprehensive consultancy services to come up with the best risk management plans, you can reach out to us by visiting our website anytime. Speaking more about our consultancy services, we are proficient in providing ISO consultancy services as well. Our expertise makes us one of the best ISO Consultants in our particular industry. So if you are looking for an ISO 27001 Consultant, or if it’s risk management that you are searching for, contact us today at +44 (0)203 4759 932, and allow us to provide you with the best consultancy services.

How Cyber Attacks are Hampering The Entire GRC Model of An Organization

Whenever we talk about cyber security attacks and their penetration on the overall market, we base our analogy on the freshly updated statistics laid down by credible sources all on the digital and print media. But even after taking a look at them, many organizations still lack the attention they need to put while maintaining their network infrastructure., When it comes to protecting your organization against a particular kind of cyber attack, the entire process is dependent on the fact that you assess the threat in the nick of time. But that’s where the organizations and the digital risk management consultancy services face the problem. FACTS SUPPORTING THE ISSUE AT HAND When it comes to cyber attacks, one thing that remains constant in each of the cases is the fact that none of the professionals or organizations has exactly identified the threat, at the point of breach. The fact that 2019 alone suffered from a loss of $470 million in spoofing frauds, is the proof that the attackers might have access to their surrounding network pretty easily. With being said, every network in a stipulated area is exposed to the threat of being monitored by these attackers. The procedures have been improving from their end, and have turned out to be immaculate enough to avoid any breach of identity, in any scenario whatsoever. If we take a look at some of the common attempts of scanning and breaching a particular network, everything from network mapping till hacking the particular network counts as viable aspects to consider. But the fact that everyone is aware of these terms doesn’t really assure their security. When we take a look at the risk management services being extended to a stipulated organization, these attacks harm them the most. RISK MANAGEMENT AND CYBER ATTACKS Risk professionals work tirelessly to mitigate any potential threat headed towards the organization. But they can’t really do their job if they have the fear of being watched by an anonymous third-party entity. Considering the current market scenario, as the workforce of an entire organization has moved to the remote platform, the threat of being attacked has risen too. According to a research report published by Check Point, Apple, Netflix, and Yahoo have collectively reported 25% of all the brand impersonation fraud via phishing attacks in the first quarter of 2020. Netflix, who was on 7th rank last year, topped the chart as of now, with almost 10% of the entire brand impersonation attacks happened till now. This shows it’s not only about the risk management services but the entire GRC model of the organizations that is being targeted by these attackers. We all are aware how important an addition cyber-security risk management is in the risk management model of an organization, but when we trace the severity of these attacks, we can notice how the governance risk and compliance altogether have been impeached by these attackers, simply by keeping an eye on each movement in the stipulated LAN of the organization. Let’s suppose all the employees who have been working remotely since the past six months, suddenly have to be cautious just because a group of hackers might be watching every step they take. This jeopardises all the functions because it creates gaps between the actual point of initiation and the time of delivery. If everyone in an organization have to be sure whether or not a particular file, document, or image is secure, it will be reflected in the delay of shift timings of the firm. On the contrary, if the top-level management directs their subordinates to take all the possible measures to secure themselves, and carry on with the work, it might lead the organization to face a serious cyber attack that might erase its entire existence from the market. WHAT SHOULD BE DONE? When companies like Netflix and Yahoo have successfully become the target of such heinous attacks, the only others can do is learn and try to be more resilient while devising cyber-security measures. On that note, if you want to make your overall network infrastructure stable enough to survive such attacks, you might take a look at Assured GRC and our expert consultation services that covers all aspects of cyber-security and risk management. Call us at +44 (0)203 4759 932 and enjoy our services today.

Focusing on The Digital Transformation of The Corporate Environment

When we talk about the current market scenario and the post-pandemic situation in particular we know that all the organizations have done immensely spectacular while fighting with this stagnant market condition and have undertaken important measures about the decision at every step whatsoever. The remarkable response to the pandemic was among the biggest surprises that shook the Global market entirely. When it comes to the steps taken by all the players we can say that transitioning their workforces to remote platforms overnight was among the biggest measures taken to mitigate the immediate risk of not meeting the customer requirements. Speaking about the current pandemic situation, it has already started calling organizations to boost their actionable measures to the cloud and rapidly adopt press tools so that the entire workforce can communicate effectively and collaborate whenever required. Speaking more on technological advancement the introduction of 5G in the global market has made it mandatory for all the organizations to embrace the emerging advancement and use it to its full potential. Therefore, it won’t be wrong to say that the new operating environment is enforcing the need of evolving with the dynamic market on all the organizations at an equally focused approach. FROM RISK MANAGERS’ END How the changing market conditions treated the organizations providing Risk Management Services the same as they behave with the organizations in the global market. In other words, risk professionals have lately witnessed the need of evolving with the changing Technology similar to what their clients have been practicing. when all the companies are buckling up to you undertake digital initiatives it became important for them too as it turned into more of a responsibility to take up the mantel of overhauling the standard operating services and meeting the procedures to support the digital transformation strategy of their clients. On that note, let’s take a look at some of the points to consider for all the organizations out there who still face difficulty in coming up with a stable risk management strategy. • Devising a fresh risk assessment: All the organizations should re-evaluate their risk profiles and their respective risk appetites. In layman terms, if an organization is persistent towards maintaining its brand image, it is required to start focusing on those risks which seemed too insignificant in the pre-pandemic scenario and deprioritize the ones that seem irrelevant in the near future, in the digitally equipped global market. • Automating all the required functions: As far as GRC is concerned we all know that all three services bring the most value to the organization. That’s why it is important for all the companies to focus on automating such services so that the overall process isn’t only smooth as butter but resilient as well. This list indicates nothing but the fact that all the organizations should readily be prepared for all the possible scenarios and be prepared for any sudden shift in the operational environment of the corporate world. As far as risk management consultancy services concerned, they should also start focusing on making their overall endeavor of providing quality consultancy services with utmost resilience so that, the organizations on the receiving side of the laid down services should get what they have been hoping for. OPTIMIZATION OF THE OVERALL RISK FUNCTION PROCESSES AND CONTROLS We all know for a fact, that throughout the pandemic, all the organizations in the market have intensified sensitive aspects like remote allocation of workforces, migration to the cloud, and many other digital aspects. Therefore, it is required by the risk professionals to keep a track of all the fluctuations and act accordingly. Below are some of the ways any new firm providing risk management services should optimize their overall risk functions. • Specialize and tweak the risk functions: Every risk professional out there, needs to be smart enough to understand how they can pace up with the talent they have with themselves and provide immaculate services including efficient governance processes, other controls. They should also focus on working in close collaboration with their clients so that the overall process is streamlined inside the organization. • Ensure that the client’s risk, compliance, and internal audits are collaborating: According to a recently published risk study, in the pre-COVID scenario, only 27% of the entire risk functions contributed towards effective risk management via well defined governance. This is why it is important to understand that the GRC services and internal audit should always move forward so that disconnected efforts don’t raise instances of duplicacy and business fatigue, or exposure to new vulnerabilities. On a concluding note, it’s only a matter of time when all the new organizations will have to start focusing on their risk management services even more. Till then, it’s better to be equipped with adequate information than to wait for the risk or crisis to show up. If you want to get the best risk management consultancy services, you can always look up Assured GRC. Call us at +44 (0)203 4759 932 and get to know further information.