Managing Cybersecurity Risks: The Value of Enterprise Risk Management

“The Office of the Attorney General and Ministry of Legal Affairs (AGLA) (Trinidad and Tobago) has detected a cyber-attack on its network.

In a media release yesterday, The Ministry of Digital Transformation said that “This unauthorized and illegal access has negatively impacted operations at the AGLA and certain associated Divisions. Having taken actions to minimize the threat, an investigation, in partnership with leading industry cybersecurity experts, is ongoing” … Trinidad Guardian Newspaper

NB: Enterprise Risk Management (ERM), when implemented effectively, can inform Cyber-risk strategies:

Cyber risk and ERM have distinct “scope of works,” but many significant overlaps exist.To help protect your organization against illegal access to your systems, the CISO/technology department must understand the organization’s entire risk landscape and architecture. Cyber risk leaders, we submit, must work closely with the enterprise risk/operational risk executives to understand and have an appreciation for the risk appetite and risk tolerance levels of each agency, department, and division in an institution (public and private).

Additionally, an alignment (integration?) of enterprise risk management and cyber-risk management must exist to reduce the likelihood, frequency, and impact of illegal access to your systems.

Need to know more? We are available to assist…

Please contact CRMA/KHBC at https://caribbeanriskmanagement.com/ and remember to register for our risk management conference on July 20th, limited seats are available, but virtual access is also available.