fabiochiu/medium-articles huggingface dataset:
The IA Toolchain #2 — Managing your product roadmap
By: Joshua G
Tags: Asana, Internal Audit, Product Roadmap, Toolchain, Risk Management

See my first blog on the IA toolchain here

In IA we provide a product. The IIA says our product is .

“ an independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.”

The key to this definition for me is the goal of helping an organisation achieve its objectives. To do this we need to have a strategy or plan for what we are going to actually do by answering the following

What are the key objectives of our organisation? What are the risks to those objectives? What are we going to do to ‘evaluate and improve the effectiveness of risk management, control, and governance processes’ in relation to those risks?

Traditionally this has been a list of audits, an ‘Annual Audit Plan’ driven by an ‘Audit Universe’ (I have some thoughts on those as well if you are interested). I prefer to forget about these ideas and think of an ‘Audit Product Roadmap’

For a distinction between a ‘list of audits and a product roadmap a good illustration is found in a post on the StartUp Blog written by Cristina Meniuc

A traveler encounters three stone cutters on the street. When asked “What are you doing?”, the first man replies “I’m cutting stone”.

Still curious and confused, the traveler approaches the second man, who says “I’m cutting this stone into a rectangular shape so that it can fit into the wall”.

Starting to get an idea but still not fully sure what’s going on, the traveler approaches the third man who says “I’m building a cathedral”.

This parable is usually linked to leadership and the importance of always starting with the big picture first. But it’s also a great metaphor for product management, and for explaining why a strategic product roadmap is not the same thing as a product backlog.

That was a fun story

Think of annual audit plan presentation that you may have collated for presentation to Execs or the Board. Often we talk about the numbers of audits we are doing, which teams may be affected and sometimes flag some risks that we might focus on. By re-framing an audit plan from a list of audit projects to a product roadmap we align the activities of the team towards the wider strategic objectives and help the whole team understand the enterprise view of where the features (audits) they are working on fit into the product.

Lucky for us, product roadmaps are are very popular concept and there are host of companies providing tools that can slot into our internal audit toolchain to help provide the strategic overlay on all the work we are doing.
Sharing is caring: 3 trading pairs I picked
Tags: Configuration, Risk Management, Strategy, Liquidity Mining

This blog was originally posted on the Hummingbot blog on February 14, 2021.

Until now, the majority of the articles are about learning and optimizing Hummingbot. Let’s take this to the next level. Is it possible to profit from market making, and does liquidity rewards help mitigate directional risks? I share the following three markets(live) and performance in an attempt to address these concerns.

Disclaimer: The content of this article is provided by our blog contributor Thomas Yit and does not represent the views of CoinAlpha Inc./Hummingbot. The content below does NOT constitute investment, financial, legal, or tax advice, nor does any of the information contained on this article constitute a recommendation, solicitation, or offer to buy or sell any digital assets, securities, options, or other financial instruments or other assets, or to provide any investment advice or service.

A little bit of intro about myself, been retail trading in forex for a couple of years till I stumbled on Bitcoin back in 2015 which a buyer accept only BTC as payment back then, bought some using localbitcoins, and forget about Bitcoin till 2017 ICO crazy period. Over the next few years start to move into the crypto trading space and found Hummingbot in May 2020. Ever since, have been running 4–6 instances but not every instance is performing liquidity mining.

My choice of a market-making trading pair

I found a not too volatile trading pair that ranges nicely in a gradual ascent. See the following screenshot.

I did three-day trading using Hummingbot and the performance is as follows:

The return was a 17.10%, and an average of 10 trades per day, not exactly high-frequency trading but close enough in terms of market-making where you have a nice proportional in buy and sell trades.

So why did I pick this pair in BTC? Now take a look at the Ethereum Coinmarketcap chart. (Note: This is not the market pair that was traded in the above example.)

You can see that the ETH/BTC(Yellow) is relatively calm and range as compared to ETH/USDT(Green). My take on why the USD is volatile, take a look at the USD index.

The USD dollar index(basket of currencies) has been on the downtrend since March 2020, in other words, USD is weakening and other currencies are strengthening. You would prefer markets moving in range for market making. Now, back to the configuration of the trading pair.

I set very simple pure market-making parameters but the bid/ask orders are dynamic based on TradingView indicators which trigger alerts to Telegram and change the bid/ask orders, for more information, see here. If you don’t have a TradingView subscription, you can use Hummingbot scripts to adjust accordingly, see here, either using the inventory_skew or the spreads_adjusted to your preference.

Read the full blog here.
Risk Management
By: Pinnacle Risk Advisory
Tags: Insurance, Business, Risk, Insurance Policy, Risk Management

Risk Taking; is one of the most vital parts of succeeding as individuals and a very key aspect of any business growth.So as a business owner it’s advisable you open your mind to it and try to manage the risk involved in business just so you don’t suffer loss. Educating business owner about risk can be compared to giving a child sex education, they would always have a God forbid reaction anytime the topic is discussed.

What is risk-taking? It is involving yourself or your company in something that involves risk in order to achieve a goal.

It’s no news we live in a world filled with so many uncertainties because no one knows what would happen in the next minute, all we do is hope and believe. And that’s the more reason we all need to Insure ourselves and every one of our possessions.

Starting a business always involves some risk-taking because even big businesses in that same industry with a very large market can also suffer loss. So, it’s important you take all the necessary steps in other for you not to suffer any loss in the face of all these risks.

While having our esteem and prospective customers in mind, (make you no go think sey insurance na for only rich people and big businesses), We have made it easy and stress-free for our customers to protect themselves and their belongings from the possible risk of loss. Our very affordable premium plans run for whatever type of insurance package you are going for.

visit www.pinnacleriskng.com to take the most vital step for your business.
Investor Risk Profiling
By: Wright Research
Tags: Investing, Risk Assessment, Risk, Risk Management, Risk Analysis

Our risk profiling method is a process for finding the optimal level of investment risk for your client by balancing their risk required, risk capacity and their individual risk tolerance.

Risk Required is the risk associated with the return required to achieve the client’s goals from the financial resources available. Based on the client’s goal to say have X amount in n years we determine the required rate of return based on his income and assets and classify him in a conservative, moderate or aggressive investor group and give him allocation to risky and risk-averse assets based on that.

Risk Capacity is the level of financial risk the client can afford to take. Following are the key metrics on which we base the risk taking capacity -

Measure of Wealth: Also subjective, partly depends on investor’s perception of their wealth relative to needs

Time Horizon/Stage of Life: The longer your time horizon (the younger you are) the greater your ability to take risk

Family Members/Dependents

Qualifications and ability to generate a steady income

Ability to withstand portfolio losses: The larger the shortfall an investor can tolerate before jeopardising their goals the greater their ability to take risk.

Risk Tolerance is the level of financial risk the client is emotionally comfortable with. This is more of a behavioural aspect of the client risk preferences and can be determined using a psychometric questionnaire. A sample questionnaire is attached in the appendix.

We evaluate the user risk profile based on following criteria:

Stage in Life

Which of the following describes your current stage in life?

Knowledge

How familiar are you with investment matters?

Experience

How long have you been investing, not counting your home or bank type deposits?

Investment Horizon

How long would you invest the majority of your money before you think you would need access to it?

Spending

Once you start using your invested money, how long would you need it to last?

Extreme Risk Scenario

In January 2008, the Indian share market fell by more than 17% during a month. If the share market component of your portfolio fell by more than 20% what would you do ?

Short Term Drawdown

If your investment fell by more than 6% over a short period you would?

Choice of Portfolio

Which scenario is most preferable?

Investment Preference

Which one of the following statements describes your feelings towards choosing an investment?

Security

How secure is your current and future income from sources such as salary, pensions & other investments?

Score

Add up the points you scored for each answer. Based on your score, your risk profile is defined as:

Head on to https://www.wrightresearch.in/update with a user account to explore!
6 Pitfall to Watch out for while Managing Agile Project
By: Oldane Graham
Tags: Agile, Scrum, Agile Methodology, Project Management, Risk Management

Here are few pitfalls to manage during Agile software development. I highlight 6 critical pitfalls that can lead many projects to failure. They are by no means specific to any one project, this means no matter what software project you’re managing these six pitfalls are always present. Knowing them is the first step to not derail your project and looking back at past projects, both the successful and the not-so-successful, you can identify one or more that were present. Let’s do a deep dive into identifying and managing these pitfalls.

1# Zero Documentation

There is a statement in the Agile Manifesto that reads “….agile focus on working software over comprehensive documentation”. This single statement had many firms focused solely on developing software and neglecting important documentation. However, documentation is crucial in helping the team align with the requirements of the solution.

Suggested article: 5 Hacks for Agile Projects’ Documentation

2# Specialist Syndrome

The term Specialist Syndrome is given when a member of the Dev team is the sole expert in a given skill, for example, front-end or back-end developer. This introduces the risk of a bottleneck in the project. One approach to negating this pitfall is to ensure that a culture of knowledge sharing is fostered among the teams.

3# Context Switching

Context switching is when an individual is shared among multiple projects. This introduces inefficiencies due to the need to refocus when transitioning from one task into another. To eliminate context switching its ideal to have individuals work on one project at a time and a maximum of two.

4# Burying Risk

Risks are not always clear at the initial stages of a project. Further, it is the tendency of the team to downplay potential risks. Therefore without effective probing, we run the risk of having risks buried beneath the day to day activities.

5# Uncertainty in Estimation

In agile we tend to estimate the level of effort of the User stories within our backlog. Estimates are normally a random guess which leads to padding or underestimation, affecting the sprint velocity. One way to avert this pitfall is to make relative estimates based on past experiences.

6# Technical Debt

Technical debt is a concept in programming that reflects extra development work that arises when code that is easy to implement in the short run is used instead of applying the best overall solution (Technopedia). It is normally caused by incorrect estimates, a lack of knowledge on best practices, or rushed deadlines. Technical debt can be averted by observing the corrective measures for all of the other pitfalls mentioned in this article.
-> Mathematics and Statistics for Financial Risk Management by Michael B. Miller -> Available in Hardcover \ Kindle \ Paperback \ AudioBook
Tags: Risk Management

-> Mathematics and Statistics for Financial Risk Management by Michael B. Miller -> Available in Hardcover \ Kindle \ Paperback \ AudioBook Malaraqt Sep 9, 2019·1 min read

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Mathematics and Statistics for Financial Risk Management is a practical guide to modern financial risk management for both practitioners and academics.Now in its second edition with more topics, more sample problems and more real world examples, this popular guide to financial risk management introduces readers to practical quantitative techniques for analyzing and managing financial risk.In a concise and easy-to-read style, each chapter introduces a different topic in mathematics or statistics. As different techniques are introduced, sample problems and application sections demonstrate how these techniques can be applied to actual risk management problems. Exercises at the end of each chapter and the accompanying solutions at the end of the book allow readers to practice the techniques they are learning and monitor their progress. A companion Web site includes interactive Excel spreadsheet examples and templates.Mathematics and Statistics for Financial Risk Management is an … (More info! -> https://ebookfirstbestpopular.blogspot.com/?book=1118750292)
Introducing the Kelly Machine
By: Potion Labs
Tags: Defi, Kelly Criterion, Amm, Crypto, Risk Management

Why Potion?

Risk Management is a fundamental pillar in any financial system. It allows participants to be more resilient to shocks, and it helps create a more sustainable eco-system for everyone for the long-term.

While exciting and highly innovative, existing risk management systems in DeFi still suffer from a number of limitations:

Extreme risk in long term liquidity supply: In our findings, even the best current pricing models can lead to LPs suffering very sharp capital losses, and likelihood of bankruptcy in the long run. Narrow product selection: Users can still only choose from a limited menu of products, stemming from non scalable liquidity architectures. Complex experience: Most interfaces still preclude a normal user from safely participating in the full experience, which remains reserved to a financial minority.

We have been working hard on a new decentralized risk management architecture that seeks to provide a solution to these issues. We present a first release of our research here, in the spirit of contributing value to the community, and continuing to work on it together.

We believe and operate within the ethos of Decentralization, Trustlessness, and Human centric design.

Initial steps

Our team came together in the virtual hackathon #hackmoney. It brought together people from all over the world with the common goal of building totally new financial services through the lens of DeFi.

Our team built a prototype for a decentralized platform to coordinate fair pricing between suppliers and consumers of insurance and derivatives contracts. We wanted to achieve mathematically robust and fair prices, and decided to follow the Black-Scholes model, a well known standard in the industry. We built a simulation laboratory to validate how the system would perform under a variety of conditions. Sadly, initial results were not great.

We found that even with zero volatility-estimation error, Black-Scholes pricing still produced bankruptcy in LPs for major crypto assets. Why? It turns out Black-Scholes assumed in its mathematics volatility patterns that are not consistent with those observed in crypto markets. Crypto markets are a lot more volatile, and “fat-tailed”, meaning they experience wilder moves much more frequently than traditional markets. The net result: Black-Scholes seemed to be pricing risk too cheaply in some cases, and as a result exposed LPs to losing all capital when betting systematically.

Here’s an illustration of this problem:
The Difference Between Treading Water and Making Big Money
By: Sean Mclaughlin
Tags: Options Trading, Mindset, Trading, Position Sizing, Risk Management

I shared this tweet today which was a quote from author James Clear of the awesome book Atomic Habits:

… and it dovetails nicely with a discussion I had with one of my All Star Options clients recently.

In conversation, it was asked of me what I plan to do about a few positions we’re in that are currently losing money?

The positions in question are all defined risk positions and so my answer was that until our stop loss levels are hit, there is really nothing for us to do. The trade setup is still valid.

The reason I’m able to come off nonchalant about this is because I’ve done the work up front to size each of my positions in such a way that if I were to take the maximum loss on these trades, the losses will be well within an acceptable range for my account.

The reason I do this is because I never know which trade is going to be THE HOMERUN TRADE. I never know. How could I? If I did, I’d invest all the capital I can get my hands on in my one best idea! I might have a hunch or a feeling that one trade offers higher potential than another. But there is no way to predict the future that I’m aware of. I go in hoping that EVERY trade will be a big winner. But I also know that it’s unlikely.

And because my individual positions are all right-sized (and in this case risk-defined), there is no need for me to agonize over each daily price swing, or worse — every tick.

This is a best practice that keeps me in the game and puts me in position to make a lot of trades, make thoughtful trades, making more consistent trades over time, making better trades over time, and get a few lucky trades that make all the difference between treading water and making big money.

I don’t know any other way to do it.

~ @chicagosean

Originally published on Allstarcharts.com.
Types Of Risk In Investing
By: Day Trade Precision
Tags: USA, Types Of Risk, Risk Management

Types Of Risk Management, The market offers plenty of opportunities for those willing to take on the challenge. However, its risks are enough to wipe them all out. There are a wide variety of risks to be wary of. Traders and investors alike all need to know and be able to identify them in all of their trades and investments. Risk management is a crucial part of investing. Without it, all technical skills and financial knowledge can easily go to waste. Right Line Trading By Mark Sachs, we offer coaches on risk management and skills to deal with risks on the market. Some of them can be managed, while others can only be speculated and reacted to when it happens.

6. Horizon risk

Horizon risk is the risk of something happening that forces you to sell your investment prematurely. For example, if you plan to hold your investment for 20 years, but something happens, such as a catastrophic event, or you losing your job and need money, you have to withdraw your investment. These events are unforeseeable. In fact, nobody wants these things to happen to them, and it’s against their will.

A sudden, heavy drop in the market can also cause this unwanted withdrawal from the market. Although the market subjects to volatility and downfalls, a heavy drop over the tolerance of an investor will force them to get out of the market to protect what’s left. In this case, they face another risk called liquidity risk. [insert Types of risk in investing P2] Though unwanted, this is what they have to have in mind when they enter the world of investing. It’s better that investors practice the skill to identify which drop is long-term and which drop is short-term. A bit of technical analysis and market cycles can give them a feel to market directions.

7. Taxability risk

Tax changes many times throughout a lifetime of an investment. It can affect your investment. Specifically, the way the government tax the industry or sector that you invest in can increase or decrease your return. Industries that might subject to taxes are cigarettes, alcohol, cannabis, types of services that aren’t a necessity, etc. When investing in these companies, investors have to keep this in mind. It’s a built-in feature of the stock they invest, and when a tax policy is released, they have to be in for a steep drop or rise.

Types Of Risk Management, Always have a back plan. A well-diversified portfolio will always help guarding against this risk. The overall impact of one poorly performing stock won’t be able to affect the entire portfolio and protect your returns. Learn More
Check, Check
By: Andy Goldblatt
Tags: California, Risk Management, Checklist, California Wildfires

During my risk management days, campus clients frequently asked me for a checklist. “Just give us a checklist and we can review the risk ourselves,” they’d offer. I’d politely refuse, explaining that every situation is unique and requires separate analysis. What I didn’t say is that checklists take the thinking out of risk management — and that over time, self-interested risk assessors find a way to check every box whether they’ve conscientiously evaluated the risks or not.

But checklists can be useful when the risk is high and time is short. So after a thick blanket of wildfire smoke smothered our part of the Bay Area last week and we could sense our local emergency services people starting to sweat, The Fabulous Wife and I put together a checklist of what to take with us, in what priority, if we received an evacuation order:

Our cats. Life before stuff. Our cats’ necessities, including food, a clean litterbox (no guarantee either will be readily available where we wind up), and ID tags (in case the babies run off). Our wallets and keys. Especially the car key — we won’t get far without that. Eyeglasses. I definitely won’t get far without those, and at this stage of life, The Fabulous Wife probably won’t either. Prescription medications. Fortunately we don’t have many, but we shouldn’t risk going without them for a prolonged period. A folder containing our most important papers: birth certificates, passports, marriage certificate, etc. In addition to providing identification, they’d be a pain to replace. Our cell phones and chargers, so we can communicate. Our laptops and chargers, so we can follow the news and play Spider Solitaire. Extra clothing, including masks. Toiletries, although if time runs short just toothbrushes and hairbrushes will do. Sentimental items like old photo albums. Ready-to-eat food, the less messy the better. Blankets and pillows — we may need to sleep in the car. Paper goods, including tissues, paper towels, and toilet paper. Lanterns or flashlights.

Although we did some pre-packing, we didn’t test whether everything would fit in our little car because we didn’t need to: the danger has passed (for now, anyway). But the last six items, which are the bulkiest, are the lowest priority, so if they take up too much room we’ll leave them behind. We’ll pay in discomfort, but probably not for long, especially if we remember our wallets and the credit cards inside them.

And, of course, in a worst case scenario, we’ll dispense with everything except the cats and run for our lives.

Developing the checklist has been a worthwhile exercise. The fires this time are tens of miles away. We haven’t had a wildfire within sight in nearly thirty years. But dry-season conflagrations have become California’s new normal, and if a torrent of embers ever comes flying over the Berkeley hills on a late-summer diablo wind, we won’t have to think about how to respond.

One last thing: a huge thank-you to the firefighters and their support network. You exemplify the best of public service.
Hegic Protocol Risks Breakdown
Tags: Defi, Options, Hegic, Smart Contracts, Risk Management

1. Potential losses on selling options as a liquidity provider.

Selling options as a liquidity provider is not the same process as lending funds out using DeFi lending protocols. Liquidity provididers can lose money provided to the pools because they are being paid by buyers for obligations to buy or to sell assets at a fixed price during a certain period.

Example:

Ten liquidity providers have deposited 1 ETH each to the ETH liquidity pool (10 ETH in total). New options holder buys a call option of 10 ETH with one week expiration and a $400 strike price ($4,000 is the size of this option).

During the period of holding the price of ETH rises to $440 and the holder exercises it. She will receive the difference between the market price ($440) and the strike price ($400): $40 * 10 = $400 in ETH. At the moment of exercising the price of ETH is $440: 0.909 ETH is the equivalent of $400.

These $400 (0.909 ETH) is the profit of the holder and the loss of ETH pool that will be distributed pro rata among the liquidity providers. Each of them will suffer the loss of -0.0909 ETH (-$40) because in this example we have 10 liquidity providers (each has provided 1 ETH to the pool).

Liquidity providers’ capital allocated in the pools is at risk. Never deposit funds to the liquidity pools that you can’t afford to lose.
Achilles Collaborates With Orpheus To Provide Supply Chain Cyber Risk Management And Intelligence
Tags: Supply Chain Management, Cyber, Supply Chain, Logistics, Risk Management

Achilles Collaborates With Orpheus To Provide Supply Chain Cyber Risk Management And Intelligence Shivaji May 22·2 min read

Achilles Information, a global leader and preferred partner for supply chain risk and performance management, has announced a partnership with Orpheus, a UK Government-approved cyber threat intelligence firm.

Below are some of the highlights of the pilot scheme:

• Achilles will have cyber risk ratings on suppliers in collaboration with Orpheus and will share these ratings with Achilles network buyers and suppliers.

• Suppliers will reduce their cyber risk by subscribing to Orpheus’ monthly cyber risk rating reports and taking action on the highlighted attack surface issues on their network, and Achilles customers can get discounted subscription rates.

• Buyers may now have the option of receiving a personalized supply chain cyber risk assessment report on their preferred supply chain, which will provide them with detailed information on the potential challenges and risks they may face.

Cyber risk is on the rise, with attackers looking to take advantage of weak third-party cybersecurity to attack more protected targets. Furthermore, as organizations begin to have remote employees, the number of weak points from which a cyber-attack could be conducted grows.

Katie Tamblin, Achilles’ Chief Product Officer, said:

“Recent examples of sophisticated cyber-attacks show that even the biggest buyer’s cybersecurity is just as strong as their worst supply chain provider.” We understand that this is a complex, ever-changing landscape in which our customers need real-time, accurate, and dependable advice, so we’ve partnered with Orpheus, the only provider of cyber risk ratings with UK Government accreditation. Continuous surveillance is crucial for successful cyber defense as we all know. Our customers will be able to make decisions based on the best, market-leading intelligence thanks to the cyber risk scores offered on the Achilles platform. I’m interested in partnering with the Orpheus team to see what they can do for customers.”

The CEO of Orpheus, Oliver Church, commented:

“Companies have increased using cyber risk ratings to manage the risk involved with third parties. Our collaboration with Achilles gives their clients a better understanding of the cyber risk posed by their supply chain. Our cyber risk ratings, which are based on award-winning machine learning, reflect the vulnerability and threat level that companies face. We’re excited to work with Achilles and their customers to help them become more secure.”

About Achilles

For supply chain risk and performance management, Achilles Information is the global leader and preferred partner.

For nearly 30 years, Achilles has been a vital link between buyers and suppliers, providing the data and perspective to give customers unparalleled levels of insight into the companies they deal with through supplier pre-qualification programs, industry audits, and risk management.
Scenario Generation for Radical Uncertainty
Tags: Covid 19, Risk, Scenario, Risk Management, Uncertainty

Author: Ron Dembo

When faced with radical uncertainty, governments, corporations, and even individuals making difficult decisions must be able to think about the different possible futures that could occur. They must be able to generate scenarios.

A useful set of scenarios will span the whole range of possible future states and contain the best and worst that we may reasonably expect in a given timeframe, including what appear at first glance to be extreme or unlikely. From there, risk thinkers can form their strategy by hedging the worst possible outcomes and optimizing the chances of securing the best possible outcome.

Scenario Generation for Covid-19

We are back in the early part of 2020. COVID has been declared a pandemic by the World Health Organization. It is ravaging Northern Italy and has just begun to appear in Canada with a handful of known cases. The way it is spread, through aerosol transmission, has been verified. To prevent the virus spreading it is also determined that proper masks, handwashing, and social distancing, if properly applied, reduce the spread in the population by over 95%.

Compliance then becomes critical to the effectiveness of preventive measures. But compliance is also highly uncertain. Consequently, the key risk factors are:

Compliance with mask-wearing

Compliance with social distancing

Compliance with regular hand washing.

The government orders the population to voluntarily follow mask wearing with proper masks, hand washing, and social distancing of at least 2 meters in any encounter. The risk is that the population will not comply with these measures and spreading will occur.

Epidemiological models show us just how quickly spreading can occur depending on how well people comply with the combination of these measures.

Obtaining the Forward-Looking Data

So, the first problem is to obtain estimates for how many people will comply with each of these measures and then to develop scenarios on the combinations of compliance with these measures.

To do this we go out to the population at large to estimate how well the population compliance would be. This could be done through Structured Expert Judgment, a fancy way of saying polling done scientifically. The result is a distribution of values for each risk factor, shown below. These come from an actual study of the uncertainty of the risk factors in a poll done on 300,000 Canadians at the end of March and beginning of April 2020.
Risk Assessments
Tags: Risk Management, Cybersecurity, Risk Assessment, Information Security

Describe each standard, how are they similar? How are they different?

NIST SP 800–30 is used to perform risk assessment, it decrypts cyber risk in a way that people within an enterprise can understand, and help them to make an informed decision on how to conduct cybersecurity initiative, it contains system characterization, threat identification, control analysis, likelihood determination, impact analysis, risk determination, control recommendation, and result documentation.

ISO 27006 provides guidance on how to implement information and audit on (ISMS) its a security technique that contains scoop, normative references, terms, principles, general requirements, structural requirements, information requirements, process requirements, and management system.

Both standards have similarities they provide guidance for conducting risk assessment and are leading in information security. The difference is that ISO 27006 is more risk-focused and less technical than NIST SP 800–30.

Why would an organization want to consider adopting either standard

Adopting these standards will help an organization to minimize its risk, improve its standard, measure the risk impact, and help to make an informed decision when implementing cybersecurity initiatives, ensure compliance and improve auditing structure.

How might a CISO use the assessment results to improve their information security posture? The CISO can use the assessment results to improve their information security posture by identifying breaches or attacks and risk impact, make an informed decision and communicate the impact to the employees to be aware of the risks, notify the CEO and run a cyber-threat analysis to determine what happens and then prevent, minimize or control the risks.

What advantages or disadvantages might you see for an organization adopting a standardized approach for performing qualitative risk assessments?

For an organization performing risk qualitative assessment help to determine the probability of performing a project goal. It is a tool that can be used when data are not provided and helps companies to make a faster decision without analyzing data.

What advantages or disadvantages might you see for an organization adopting a standardized approach for performing quantitative risk assessments?

The advantages of quantitative assessment helps to analyze an occurring event and propose a probability for perceived cost. The disadvantage is the absence of data that can lead to an inaccurate outcome.
Enterprise Risk Management full_acces
Tags: Risk Management

Enterprise Risk Management, — ->>> A practical, real-world guide for implementing enterprise risk management (ERM) programs into your organization Enterprise risk management (ERM) is a complex yet critical issue that all companies must deal with in the twenty-first century. Failure to properly manage risk continues to plague corporations around the world. ERM empowers risk professionals to balance risks with rewards and balance people with processes.But to master the numerous aspects of enterprise risk management, you must integrate it into the culture and operations of the business. No one knows this better than risk management expert James Lam, and now, with Enterprise Risk Management: From Methods to Applications, he distills more than thirty years’ worth of experience in the field to give risk professionals a clear understanding of how to implement an enterprise risk management program for every business.Offers valuable insights on solving real-world business problems using ERM Effectively addresses how to develop ……. MORE …… Visit link : https://playbookworldwide.blogspot.com/?book=0471745197

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Crypto Market — Impressions from Q2 of 2019
By: Obvious Capital
Tags: Cryptocurrency, Crypto, Wealth Management, Bitcoin, Risk Management

Highlights from the Press

One the news side, it’s been quite an entertaining quarter. To mention the most notable ones and maintain this section to a reduced number of paragraphs is a tough exercise:

Starbucks, Nordstrom and Whole Foods started accepting Bitcoin as payment using an in-store scanner provided by Gemini and an app called Spedn, built by payments startup FlexaHQ. AT&T mobile carrier also followed that lead and started to accept payments in cryptocurrency.

A serious hack in Binance happened, which is currently the main retail crypto exchange. After that, it also stopped accepting US costumers, planned to open a US exchange, and confirmed margin trading.

Tether was threatened by the USA administration because it is apparently not backed up 100% by Fiat.

Major global institutions launched their own version of a blockchain through the umbrella of Facebook’s Libra. The new coin, scheduled to launch in 2020, will be a stable coin, backed by a mix of sovereign currency and short-term debt instruments.

Microsoft launched a decentralized identity tool on Bitcoin Blockchain called ION.

Bakkt to accept users for testing their BTC Futures on 22 of July.

Amazon filed a proof-of-work patent using cryptography.

SEC postponed VanEck bitcoin ETF.

Goldman Sachs plans to launch a stable coin.

Looking Forward

Despite some negative news and FUD around, Bitcoin has shown proofs of its inherent anti-fragility. And that’s a solid takeout from Q2 of 2019.

What will bring us Q3? We’re working with a few possible scenarios. The most bullish ones are pointing to a target area between $15k up to $16k, where there are some interesting harmonic confluences, from a technical analysis perspective.

On the least bright side of the equation, there is also some plausibility that a Summer pull-back may happen, leading the prices to revisit the previously easily broken levels and to gain even more strength on the following upper movements.

The more bearish scenarios even point to a closer re-test of the $3,100 year-to-date low. But, so far, we have tagged those scenarios with a very low probability to happen.

Currently, the price is sitting in the $11k up to $12k region. Between here and Bitcoin’s all-time high, there are not many significative resistances. It isn’t unfeasible, neither low probable, that we might see Bitcoin heading up to $20k still within 2019.
Enterprise Risk Management
By: Stay In Business
Tags: Risk, Risk Management, Risk Assessment

Risk management provides organizations a mechanism for controlling uncertainty, loss or any other occurrence that could jeopardize the company’s interests. Business operations are always prone to risk exposure which is why leadership and management teams adopt a software enabled approach to enterprise risk management.

Enterprise Risk Management Software — Core Purpose

The prime objective of using an enterprise risk management software is to curtail the impact of risks that an organization’s operational landscape is exposed to through a series of interconnected systems that provide interfacing and reporting capabilities. The software allows you to detect patterns from historical data in order to forecast future risks and identify the preventive measures that need to be taken. Short and long term risk mitigation efforts can also be identified which increases the return on investment.

The tool lets you manage risks arising from commonly encountered commercial as well as compliance related issues.

Enterprise Risk Management Software Benefits

· Identifying and integrating all possible risks into business strategy and planning procedures

· Better response measures across all operational segments

· More detailed understanding of the risk factors that disrupt business and damage resources

· Safeguarding the company’s business interests and public perception

· Better resource utilization and capital expenditure to increase ROIs

Getting rid of process related inefficiencies and redundancies
Why do we need an Integrated Training Management system in our Organization?
Tags: Safety, Ehs Software, Health, Environment, Risk Management

It is a solution for managing your training program. Whether your goal is to drive performance or achieve compliance with frameworks such as OSHA, ISO, or corporate policies — you’ll need an effective mechanism to identify skill gaps, administer training, and measure effectiveness

The best training management software will empower your organization to

Manage and evaluate progress on employee training courses and certifications

Monitor employee skills and abilities, and provide notifications to management on employees who have yet to complete their safety courses

Identify candidates for job openings in the event an employee is promoted or resigns from the company

Reduce safety-related costs and optimize productivity by integrating health and safety modules with other departments (Human Resources, Finance) so that everyone is on the same page

ProcessMAP offers a world-class solution for managing your training program. Whether your goal is to drive performance or achieve compliance with frameworks such as OSHA, ISO, or corporate policies, you need an effective mechanism to identify skill gaps, administer training, and measure effectiveness. ProcessMAP’s Training Management solution enables you to create, schedule, reschedule, track, and report on employee’s training and certifications — all from a central software interface. Take advantage of multiple training delivery options, including instructor-led, virtual, and off the shelf online courses designed for your employees.

ProcessMAP’S EHS Training & Performance Management solution helps your organization Maximize ROI, Improve Performance, and Deliver Customized Training.

Business value and Competitive advantage

One-Stop Solution : Manages training metrics and activities such as scheduling, tracking, attendance, instructor related activities, and course selection.

: Manages training metrics and activities such as scheduling, tracking, attendance, instructor related activities, and course selection. Address Skill Gaps : Provides a comprehensive gap analysis to identify individual or user group needs and design training plans accordingly.

: Provides a comprehensive gap analysis to identify individual or user group needs and design training plans accordingly. Automate Participation Tracking: Maintains employee training records for participation and performance tracking. Automates reminders to stakeholders for upcoming and overdue activities.

Maintains employee training records for participation and performance tracking. Automates reminders to stakeholders for upcoming and overdue activities. Simplify Content Management: Eliminates the cost and complexity of content management through integration with online regulatory and audit content providers.

For more information visit ProcessMAP’s website and get a free Demo.
American Business Awards Honor Dave Poms with 2020 Insurance Entrepreneur of the Year
By: Dave Poms
Tags: Loss Prevention, Risk Management, Dave Poms, Entrepreneurship, Business Insurance

I’m honored to receive the 2020 Gold Stevie Award for Insurance Entrepreneur of the Year! I share it with the entire team at Poms & Associates that is helping businesses and organizations to reduce their risk, loss and cost and make health and safety core components of their company cultures. This award inspires us to continue pursuing excellence and innovation to meet our clients’ rapidly evolving needs, especially in these uncertain times.

I founded Poms & Associates in 1991 based on the premise that knowledge is the best insurance — that the best way to help businesses and organizations be an educator about best practices in how to reduce risk and prevent loss before an incident occurs. With a company-wide emphasis on education and an ethic of entrepreneurship, Poms & Associates today is among the top 50 privately held brokerage firms in the U.S. with six branch offices in three states. Our company has been repeatedly recognized as one of the “50 Best Places to Work in Insurance” by Insurance Business America magazine.

Within the past year, we’ve achieved a number of major accomplishments. These include implementing an innovative risk management program in New Mexico public schools that provided active shooter training and the tools for school administrators to make safe decisions and quickly report incidents to authorities. This training led directly to lives saved in shooting incidents in both Roswell and Aztec, N.M. I also helped write two school safety legislative bills that define and limit who can be armed in New Mexico’s public schools by requiring certain qualifications before an individual can become an armed security employee.

As the issue of sexual abuse continues to present a serious challenge for the insurance industry, I’ve continued to advocate for a major cultural change within companies and institutions — one where processes and tools are put in place to improve the safety of young people, and training and education are made central to enabling quick action that protects them when potential issues arise. In New Mexico, I helped build bipartisan political support for legislation that created a task force to address the issue of child predators in the state’s public schools. The task force serves as a national model for schools in other states.

To read the press release about the award, go to: https://www.prweb.com/releases/david_poms_named_2020_insurance_entrepreneur_of_the_year_at_the_american_business_awards/prweb17144170.htm.

To read the story in Insurance Business America about it, go to:

https://www.insurancebusinessmag.com/us/news/broker-perspective/david-poms-wins-stevie-award-for-entrepreneur-of-the-year-insurance-227910.aspx.
Institutional Innovation Report | Aspen Digital
By: Stephen Scott
Tags: Financial, Risk Management, Regtech

Aspen Digital recently released a new report, Redefining the Workscape Bringing Value and Values to Machine-Human Collaboration. The report summarizes a two-day Roundtable discussion in which Starling founder & CEO Stephen Scott participated last summer. It features discussions on the future of work, with a focus on business structures and leadership strategies that can help organizations leverage the opportunities presented by new technologies.

As Stephen emphasized during the Aspen Roundtable discussion, “networks of trust” within an organization work to cultivate a sense of belonging and community, to foster camaraderie and collaboration, and to engage people in a shared sense of purpose and a common corporate culture. Such trust networks are an over-looked and critical company asset.

Rather than the current reliance upon complex technology-based risk management systems that operate at multiple “layers of defense” across broad geographies and distributed teams, Starling emphasizes that behavioral science, organizational network analytics and machine learning combine to allow managers to map and measure the “social capital” at work in their firms, and to harness that to serve improved performance and risk management goals.

To learn more about these and other ideas explored by the distinguished Aspen Digital Roundtable participants, download the full report here.
What is the Cybersecurity Maturity Model Certification (CMMC)?
By: The Pulse Of Government Contracting
Tags: Cybersecurity, Small Business, Defense, Competition, Risk Management

Being a Defense Government Contractor is a lot like walking a tightrope — always trying to balance two “opposing views” (compliance vs. profit) with little room for compromise. The pros make it look effortless. In fact, they can make it look fun. But our Ringmaster (the Pentagon) is ready to add a new stunt to this death-defying act — one that will separate legends from amateurs.

Coming in FY20, proof of adequate cybersecurity is going to be a requirement for all Defense contractors. The program, known as the Cybersecurity Maturity Model Certification (CMMC), will impact virtually every vendor in the DoD supply chain — potentially hundreds of thousands of U.S. companies, according to Pentagon officials.

The sideshow of CMMC and just how significantly it will impact the Defense Industrial Base (DIB) has us all watching, holding our breath — so we decided to send out our advance team before the big tent comes to town. We sat down with Mr. Alexander W. Major, a Partner at McCarter & English and Co-Leader of the firm’s Government Contracts and Export Controls Practice Group, to discuss what exactly we should be expecting from our Industry’s Greatest Show on Earth.

Read on here: https://www.thepulsegovcon.com/the-pulse-content/2019/11/5/what-is-the-cybersecurity-maturity-model-certification-cmmc