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Last year about this time, I reported that Gartner had named Dell / RSA Archer a Leader in its inaugural Magic Quadrant for Integrated Risk Management. It has happened again! For the second consecutive year, Gartner positioned Dell Technologies (RSA) as a Leader in its 2019 Magic Quadrant for Integrated Risk Management Solutions. We believe this positioning speaks to the strengths of the RSA Archer® Suite in addressing today’s complex and fast-moving digital risks.

 

Gart

 A Big Thank You to Our Customers!

Participation in these analyst evaluations requires a significant commitment of time and resources, and we could not have achieved this Leader position without the support of our customers acting as references in Gartner’s evaluation. Our sincere thanks to all of you that have acted as a reference on our behalf.

 

I look forward to seeing you all at RSA Charge in September to celebrate in person!

 

Magic Quadrant for Integrated Risk Management; Published: 15 July 2019; Analyst(s):Brian Reed,  Jie Zhang

This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document.
 

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

I am happy to share that for the fourth time, RSA has been positioned as a Leader in the just-published Gartner Magic Quadrant (MQ) for IT Risk Management (ITRM) Solutions

 

The field for this year’s Gartner MQ for ITRM is comprised of ten vendors. Based on Gartner analysts’ evaluation of RSA Archer Release 6.5, which included an in-depth questionnaire, product demonstration, and interviews with RSA Archer customers, Dell Technologies / RSA was positioned highest in "Ability to Execute.”

 

 

We would like to sincerely thank our customers for sharing with Gartner their valuable insights and experiences using RSA Archer solutions. Our customers and community of users are truly what continues to make RSA Archer great!

 

The Garter MQ for ITRM is the first of four Gartner MQs this year that will include RSA Archer, including MQ reports for Integrated Risk Management and Business Continuity Management Planning in the coming months, as well as IT Vendor Risk Management Tools later this year.

 

If you are just beginning to explore IT risk management, or if you are already managing a successful integrated risk management program, we encourage you to read the full report.

 

This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Dell Technologies.

(Authored by Steve Schlarman, Portfolio Strategist, RSA)

It was Mark’s big shot. He finally had a meeting with Sharon, the CIO. Her schedule was so busy it was legendary, and for her to spend time with a risk analyst was a clear indicator she recognized the new challenges facing their company. Although he only had 15 minutes, Mark was prepared  – notepad at the ready, brimming with nervous energy. After some brief chit chat, he got down to business – ready to drill into a conversation about their company’s biggest obstacles; the most impactful concerns; the top of mind issues; the coup de grace that could spell disaster for the organization. He took a deep breath and went to his big money question… ‘So, what keeps you up at night? What are you worried about?’ 

Sharon beamed. She spun around to her whiteboard and spewed a litany of projects fueling their company’s digital transformation – an IoT project, SalesForce.com implementation, a massive VMWare migration and their hybrid cloud, the new employee work-at-home program, the impending customer mobile portal…

While that question got Sharon started, let’s think about this a bit differently.

With all the benefits the new digital world offers, there are a host of risks that must be managed. The major areas of risk remain the ‘usual suspects,’ such as security, compliance, resiliency, inherited risks from third parties and operational risk. However, digital business amplifies uncertainty for organizations today.  For example:

  • Digital business, by its very nature, increases the threat of cyber incidents and risks around your intellectual property and customer data.
  • The expanded connectivity and expectations of the ‘always on’ business stresses the importance of resiliency.
  • Business has evolved into an ecosystem of internal and external services and processes leading to a complex web of ‘inherited’ risks.
  • The disappearing perimeter and digital workforce is challenging how organizations engage their customers and employees.

Factors such as these are why digital initiatives are forcing organizations to rethink and increasingly integrate their risk and security strategies. 

The objective for today’s risk professional is not just about defending against the bad. Just like Mark discussing the parade of initiatives with Sharon that clearly impact their company’s future, you must be ready to help usher in a new age of digital operations. Merely riding the buzzword wave – IoT, social media, big data analytics, augmented reality... – is not enough. 

You must look at opportunities to enable innovation in your business while building trust with your customers and throughout your enterprise. Your business must be comfortable embracing risk and aggressively pursuing market opportunities offered by new technology. To do that, risk associated with the use of emerging or disruptive technology in transforming traditional business processes needs to be identified and assessed in the context of fueling innovation. You also must keep focus on the negative side of risk. Your business today demands an open, yet controlled, blend of traditional and emerging business tactics. You must help manage the ongoing risk as these transformed business operations are absorbed into the organization fully, i.e., the new model becomes the normal model of doing business.

Risk is, by definition, uncertainty. Everyone is concerned about uncertainty in today’s world. However, if we go back to the simple equation (risk = likelihood * impact), risk should be something we can dissect, understand, and maybe even calculate. While you are helping your organization embrace the advantages (positive risk) of technologies like IoT, data analytics, machine learning, and other emerging digital enablers, the volatile, hyperconnected nature of digital business amplifies the negative side of risk. It is anxiety about the unknown that leads us into that executive conversation, but it shouldn’t lead to worry.

Worry is about fear. Your executives shouldn’t be afraid in today’s world. They should have informed concerns. And you – as the security or risk person in the room – should be feeding insights to raise their visibility of the likelihood of events and diminish their distress on the negative impacts. Risk is part of riding the waves of business opportunities.

Risk is not something you should WORRY about... it is something you should ACT on.

***********

To learn more about digital risk management, click on our new Solutions Banners located in the right-hand column of each RSA product page: Third Party Risk, Cloud Transformation, Dynamic Workforce, and Cyber Attack Risk.

Many organizations establish policies to provide guidance regarding conflicts of interest when conducting business with outside organizations. A conflict of interest may occur when you have a personal or financial interest with the company or person you are conducting business with. As a part of managing conflicts of interest, it is important to manage and monitor the acceptance of gifts from both parties.  

 

Gifts, entertainment expenses, and charitable donations are used frequently to build and maintain good relationships between your organization and the companies you do business with. However, if not managed properly, conflicts of interest can impact judgement and the business relationship. Most organizations implement some form of anti-bribery or conflict of interest policy to ensure employees are conducting business in an honest and ethical manner when contemplating or entering into a transaction or arrangement that might benefit one party over the other. It is crucial to ensure that any gifts, entertainment expenses, or charitable donations are within the company's policies and do not pose a conflict of interest to protect the relationships between partners, customers, vendors, and anyone else you conduct business with.

 

On May 21st, the RSA Exchange introduced a new offering to help you address your organization's requirements for gift registration.  The RSA Archer Gift Registration app-pack helps monitor the risks against violations of conflict of interest with regards to gifts, entertainment expenses and charitable donations. In doing so, you can identify requests over the organization's threshold and manage the exceptions to identify areas with potential conflicts of interest and address the issue.

 

RSA Archer Gift Registration allows you to:

  • Track gifts, entertainment expenses, and charitable donations
  • Identify and manage non-compliant expenses
  • Manage and report exceptions for approved expenses outside of the organization’s threshold
  • Provide visibility into the status of the requests

 

Interested in learning more about the RSA Archer Gift Registration app-pack? Join us for a Free Friday Tech Huddle on Friday, May 31, for a live demo. Free Friday Tech Huddles are only available to RSA Archer customers. If you are not yet a customer but you are interested in learning more, please contact your local representative or authorized reseller — or visit us at www.rsa.com.

 

RSA Archer Gift Registration Dashboard

Strategies drive the overall direction of a company; therefore, one of the top priorities for every organization is to ensure strategies are executed according as planned and in a timely manner. Understanding and preparing for risks that pose a threat to your organization's strategy execution is crucial. To aid in successful strategy execution, you must implement a process to identify, assess, and mitigate any strategic risks that may impact your organization's strategy.  Some of these risks include but are not limited to:   

  • Shifts in consumer demand and preferences
  • Legal and regulatory change
  • Competitive pressure
  • Merger integration
  • Technological changes
  • Senior management turnover
  • Stakeholder pressure

 

Proper strategy execution requires prioritization of the strategic risks. With the RSA Archer Strategic Risk Management app-pack, your organization will find comfort in a consistent and repeatable process for identifying and mitigating strategic risks, while understanding the level of preparedness against risks that impact your organization's strategies, minimizing the risks for successful strategy execution.

 

This new app-pack helps you get the most from both the Risk Catalog and the Strategic Planning app-pack. With the RSA Archer Strategic Risk Management you can relate the strategic risks to the strategies defined in the RSA Archer Strategic Planning app-pack to get a holistic view of your organization's strategies and how the strategic risks impact the organization. In addition, the existing Risk Catalog lets you build an inventory of your risks, from the enterprise level down to the operational level through the Risk Register. It allows you to roll-up individual risks into macro-levels for analysis and reporting at the most relevant level. With the addition of the RSA Archer Strategic Risk Management app-pack, you now have another layer of analysis available to you. Once you have identified risks in your hierarchy that tie back to Strategic Risks, you can track them together in the new app-pack while still maintaining the hierarchical structure in the Risk Catalog. That way, you have insights both on how individual risks roll-up throughout the organization AND on how each risk can influence the strategic risks.

 

RSA Archer Strategic Risk Management allows you to:

  • Identify strategic risks within the organization
  • Relate strategic risks to organizational strategies
  • Conduct a Strategic Risk Assessment to determine risks, impacts, and level of preparedness
  • Implement Action Plans to remediate strategic risks outside of the organization’s tolerance levels
  • Monitor strategic risks to identify opportunities to mitigate risks 

 

Interested in learning more about the RSA Archer Strategic Risk Management app-pack? Join us for a Free Friday Tech Huddle on Friday, May 31, for a live demo. Free Friday Tech Huddles are only available to RSA Archer customers. If you are not yet a customer but you are interested in learning more, please contact your local representative or authorized reseller — or visit us at www.rsa.com.

 

 

RSA Archer Strategic Risk Management

Strategic Risk Manager Dashboard

Wouldn’t it be great if the size and resources of your third-party risk management team actually kept pace with your growing number of third parties? Hey, it never hurts to dream. But in case that dream never becomes a reality, RSA Archer has got your back.

 

Third-party relationships aren’t just growing in number and complexity -- they’re also growing in their potential impact to your business. As innovative companies lean into digital transformation, they’re increasingly leveraging third parties to host new infrastructure, improve customer experiences, and fuel digital-native products. So as our reliance on third parties grows, we have to ask ourselves how our risk management can work better, smarter, and faster.

 

Third-party risk management has traditionally been limited to questionnaires. These assessments remain important today, but they leave several gaps in effective risk management. First, they only tell you the risk at the "point in time" the assessment is conducted. Second, they only tell you what the third party knows and wants you to hear. They do nothing to illuminate security gaps that a vendor isn’t aware of. They tell you which controls are in place, but leave you with no assurance that those controls are operating effectively. And lastly, they’re just downright time-consuming for everyone involved, from respondents to reviewers. In a world where third parties are critical to bringing new products to market, that means hindering the pace of progress for the entire business.  

 

So how can we do risk better? The key is to maximize efficiency and minimize risk. Doing that means focusing on protecting value at risk. This requires having context for what matters to the business and where the value lies. But it’s not enough to just identify risk. Effective risk management also requires action.

 

That’s why we’re so excited to announce the new RSA Archer Third Party Security Risk Monitoring use case. While questionnaires and risk rating services alone only provide a partial view of risk, RSA Archer now enables you to build the complete picture. This new RSA Archer use case brings together business context, technical valuation powered by machine learning, objective verification of operating effectiveness, and actionable workflow to provide the most efficient, effective approach to risk management.

 

With both questionnaire-based assessments and new continuous monitoring of a third party’s internet presence, you can focus on how risk is actually implemented and operated. Prioritizing actions based on inherent business risk, asset value, and known defficiencies keeps you focused on what matters most. RSA Archer’s powerful workflow engine then ensures that the most critical issues get triaged both internally and externally for immediate response. As part of the broader RSA Archer platform for integrated risk management (IRM), you can also maximize the business value of your risk management program by providing a single place to share third party risk dashboards with stakeholders from the first line of defense, compliance, business resiliency, information security, and more.

 

Interested in taking your third-party risk program to the next level? Join us on Wednesday, May 22, 2019 at 11:00 AM Eastern for our webinar, "Third Party Risk Management: Making Sense of Your Vendor Data." To sign up, register here. Learn more about the new RSA Archer Third Party Security Risk Monitoring use case and be sure to join us for a Free Friday Tech Huddle on June 14, 2019.

With today’s launch of RSA Exchange Release R8, we’re excited to bring you new offerings that can help you in continuing to advance in your integrated risk management (IRM) journey.

 

One RSA objective for this year is delivering advanced IRM capabilities to help your organization achieve greater visibility and insights. RSA Exchange Release R8 is one of our largest releases to date and brings to market new capabilities in managing tax risk and strategic risk, as well as managing your organization’s conflict of interest policies with gift registration. In addition, 13 new and updated integrations offer enhanced insight from industry-leading software providers, and 6 new authoritative sources can help widen your view of risk.

 

The RiskRecon integration has been updated to optimize the new RSA Archer Third Party Security Risk Monitoring use case, which is now generally available.

 

Here is a full list of the new and updated offerings available in Release R8.

 

 

 

 

 

There are so many new capabilities available in Release R8, and I know it can be overwhelming.  My suggestion is to start by reviewing the product advisory to learn a bit more about each of the new and updated offerings.

 

Next, I invite you to join me for a Free Friday Tech Huddle on Friday, May 31 for an overview of the RSA Exchange Release R8 offerings. Christine Tran will also provide a demonstration of the new RSA Archer Strategic Risk Management and RSA Archer Gift Registration app-packs.

 

Lastly, there is a wealth of documentation, downloads, and more on the RSA Exchange on RSA Link.  I recommend that you bookmark the listing of all RSA Exchange offerings. And if you have new ideas for the RSA Exchange, please send them our way on RSA Ideas

Let's talk about entropy. No, I'm serious, we have to talk about it. Entropy is the natural tendency for things to become less organized over time, a natural decay of order and planning that creates chaos and uncertainty. And it is a natural tendency. As the work piles up, the new tasks, the urgent tasks will replace the mundane and old tasks at the top of your conscious mind. They have not become less important, they just are a victim of entropy.

 

I fight against entropy all the time, we all do. We try to create order and structure through a calendar, a to do list, reminders… Anything can become a tool in the fight against entropy. And that does bring us to a new feature in Archer 6.6, the automated metrics update.

 

Metrics are a great tool to monitor data, whether is it performance, risk or control data. It can give you a quick snapshot of a situation, it can give you early warning if something is not quite right, it can be used for trending, it has a lot of uses. The issue is that what you get from your metrics program is what you put in. If your metrics are not updated on a regular basis then you won't get anything of value out of them. Entropy is fighting against you, who will remember to go in an update a key indicator when there are ten new tasks to perform?

 

That is why we leveraged the new rules based enrollment feature in Advanced Workflow to implement an automatic upgrade of key indicators. Based on the update frequency and the last update date, metrics that are past their due update date are now going to be automatically enrolled in a workflow. The metric users will receive a notification, and have a task created for them to update their outstanding metrics. It’s a simple one step process that will ensure the key indicators stay up to date.

 

The end result is that since metrics will be more reliably up to date, all the information you use them for, dashboard, reports, trends, alerts will also be more up to date and reliable. So will the metrics you decide to feature on a dashboard through the new featured metric feature. The insights you will get from them will be better and timelier. And your fight against entropy will be made easier since there will be no need to chase metrics owners down to get them to update their data.

 

Now, this is only one illustration of how the new rules based enrollment workflow feature can be used, I am impatient to see what you will actually use it for. What do you think will be the first workflow you build using this?

Available beginning today, RSA Archer Release 6.6 represents our next step forward in creating a next-generation user experience that brings the power of RSA Archer to an evolving user base, where they are, with the context they need, and in the format they want.

 

With this release, we’ve focused on continuing to elevate the user experience with RSA Archer, with user interface, usability, and accessibility updates that support the growing scope and importance of risk and compliance at all levels of our customers’ organizations. Release 6.6 includes a number of improvements to key features of the main navigation, dashboards, and records pages for a more modern look and feel and enhanced functionality.

 

Other enhancements to the RSA Archer Platform include search and reporting improvements for easier and faster analysis. A new “Refine By” pane on the search results page – similar to what you would see in the left column on Amazon.com -- makes it easy to slice and dice initial search results by clicking attributes to filter the results without leaving the results page. Users can also add, remove, and reorder display fields directly from the search results page, for more efficient modifications to search results. To enable faster navigation and search, Global Search now provides search suggestions that appear in real-time as text is entered to enable faster navigation, and prioritizes content that matches the Key Field, Tracking ID, or both.

 

Release 6.6 includes workflow management enhancements for greater efficiency, including while on the move. As one of the customer-voted “Top 10” features on RSA Ideas, the new Advanced Workflow Actions by Email capability enables users to quickly and easily complete workflow actions, such as approving or rejecting a record, via email without the need to log in to RSA Archer. The release also includes performance improvements to optimize management of data at scale, support for an Application Managed Output Writer for JavaScript Transporter to enable more data in a single data feed, and removal of inactive jobs to reduce the job engine load.

 

RSA Archer Release 6.6 also includes updates for several use cases:

  • RSA Archer Key Indicator Management use case updates enable past due active metrics or metrics that do not have recorded results to be automatically enrolled into workflow. Metric owners are notified that action is required and can then determine the appropriate remediation actions for the metric.
  • RSA Archer Corporate Obligations Management and RSA Archer IT Regulatory Management use cases have been updated to remove pre-configured data feeds from the use case package, allowing customers to customize configuration based on their regulatory requirements. Data feeds are now available from the RSA Exchange on RSA Link.
  • RSA Archer Enterprise Catalog is a new package designed to simplify the process of updating releases by aggregating shared applications across multiple use cases.

 

Last, but certainly not least, for our global customers, RSA Archer Release 6.6 includes localization for the eight languages supported by RSA Archer. We’re very pleased to be able to provide localization with general availability for the first time with RSA Archer Release 6.6. Customers can immediately download RSA Archer in their language of preference, and translated documentation is also available.

 

For more details on RSA Archer Release 6.6 features and functionality, RSA Archer customers can review the product advisory. Customers are invited to join us for a Free Friday Tech Huddle on Friday, May 3. You can also read the blog series and check out the documentation available on the RSA Archer Release 6.6 subspace on RSA Link.

 

If you haven’t yet upgraded to 6.x to take advantage of these and other great features, please reach out to your account representative. You don’t know how much you’re missing!

 

Stay tuned for even more great things coming soon for the RSA Archer Suite.

In the RSA Exchange R6 release, we introduced the RSA Archer Speak Up app-pack which empowers your first line of defense to Speak Up regarding concerns in the form of ideas, issues, or complaints.  Using the RSA Archer Speak Up app-pack, your employees don't have to worry about how to classify the information or where to submit it and you can receive insights from your organization to improve the business.

 

In our most recent release of the RSA Exchange R7, we updated the RSA Archer Speak Up app-pack to allow capability for anonymous submissions.  Information can now be submitted anonymously to protect the identification of whistleblowers and management can solely focus on the issues at hand.

 

With the RSA Archer Speak Up App-Pack, you can:

  • Empower users within your organization to speak up regarding the business
  • Provide ownership and accountability for information reported
  • Employ a consistent governance process for reporting information
  • Be informed of organizational risks related to Speak Up requests
  • Inspire everyone to own risk

 

Interested in learning more about the RSA Archer Speak Up app-pack? Join us for a Free Friday Tech Huddle on Friday, April 12 for a live demo. Free Friday Tech Huddles are only available to RSA Archer customers. If you are not yet a customer but you are interested in learning more, please contact your local representative or authorized reseller—or visit us at www.rsa.com.

 

This is not an April Fools’ Day joke – RSA Charge registration fees go up from $595 to $995 on April 2. Trust us, you will not want to miss this year’s Charge event. REGISTER TODAY!

 

RSA Charge 2019 will provide you a place to discover game-changing business-driven security solutions to meet today’s greatest business challenges. Attendees will explore best practices and have opportunities to problem-solve and discuss ideas for product and service innovation to increase productivity. From customer case studies to training as well as one-on-one consultations and motivating keynotes, this year’s conference has something for everyone!

 

RSA Charge 2019 will deliver a host of new content and exciting opportunities through:

Customer-led case studies and hands-on workshops to share trends and issues specific to your industry

Thought-provoking keynote presentations that provides insights on RSA’s products, solutions and customer successes

Partner Expo highlights solutions that are driving high-impact business benefits using RSA’s solutions

Unparalleled Networking invites you to exchange ideas with your peers and RSA experts and save – early bird rates are $595 and available through April 1, 2019, then the regular registration price kicks in at $995. The RSA Charge 2019 website should be your go-to destination for all ‘Charge’ information - Call for Speakers, Agendas at a Glance, Full Agendas and speakers, Keynotes, and so much more.

 

RSA Charge 2019 will be in Orlando from September 16-19, 2019 @ Walt Disney World Dolphin & Swan Hotel, Orlando. 

 

REGISTER before April 2, save $400 and check out the RSA Charge 2019 website for continual updates like the one below:

 

Just Added: Looking for pre-conference training? Due to RSA Charge starting on a Monday and being on the Disney grounds, RSA has decided not to offer any pre-conference training this year but instead offer a whole RSA University track dedicated to your favorite training topics at no extra cost. That’s right, no additional cost!

 

There will also be RSAU representatives, onsite to talk shop and answer any and all of your questions, just another reason to attend RSA Charge 2019. We look forward to seeing you all in Orlando.

What is Operational Risk?

The Risk Management Association defines operational risk as “the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events.” Sources of operational risk include natural and man-made disasters, cyber-attacks, errors, fraud, and regulatory or contractual non-compliance.

 

Why is the proper management of Risk so important?

In addition to operational risk, organizations today face a wide range of risks originating in different areas of their business, including risk to achieving strategies and objectives, credit risk, interest rate, liquidity, and market risk, political risk, and reputation risk, to name a few.  Many of these risks arise within the four walls of the organization and many are inherited through the extended third-party ecosystem that the organization engages. 

 

As an organization grows in size and complexity, converts to digital, moves into new markets, introduces new, more sophisticated or novel products and services, is subject to more regulatory obligations, extends its third party dependencies, or is exposed to political, social, or environmental challenges, it becomes much more difficult for the organization’s management and board of directors to understand and manage its risks.  Without a clear understanding of their risks, these organizations tend to experience more surprises and losses, and have a more difficult time achieving their objectives and strategies.  Some of these risks may threaten the very existence of the organization, or the livelihood of its managers and board of directors.  Consequently, these risks must be effectively identified, assessed, and managed to protect the organization’s leadership and ensure the organization can meet its objectives.

 

RSA Archer Risk Catalog

RSA Archer Risk Catalog provides the foundation to record and track risks across your enterprise, and establish accountability by named first and second line of defense managers. It provides a three-level roll-up of risk, from a granular level up through enterprise risk statements. Inherent and residual risk can be assessed utilizing a top-down, qualitative approach, with assessed values rolling up to intermediate and enterprise risk statements.

 

Key features include:

  • Consistent approach to documenting risk, assigning accountability, and assessing risks
  • Oversight and management of all risks in one central location
  • Ability to understand granular risks that are driving enterprise risk statements
  • Consolidated list of prioritized risk statements

 

RSA Archer Risk Catalog enables organizations to:

  • Obtain a consolidated list of the organization’s risk
  • Enforce a consistent approach to risk assessments
  • Prioritize risks to make informed decisions about risk treatment plans
  • Create accountability for the ownership and management of risk

 

The RSA Archer Risk Catalog is an essential use case of the RSA Archer Ignition Program, designed to empower organizations of all sizes to respond to risk with data-driven facts using a streamlined, fast time-to-value approach

 

Today, organizations are faced with complex and fast moving challenges.  RSA Archer Risk Catalog is one element of an effective Integrated Risk Management program.  Stressing the agility and flexibility needed by today’s modern organizations, integrated risk management brings together the various domains of risk across business activities (horizontally), connecting the activities to the strategies and objectives of the organization on an aggregated basis (vertically). This approach to risk management provides leaders with the most holistic understanding of risk facing their organization so they can make truly informed decisions about where to deploy limited capital and human resources to produce optimized returns for the organization while maximizing the likelihood of achieving the organization’s objectives.

 

As your organization grows and changes, your risk management program must evolve and manage risk more holistically, with more agility and integration than before. Effective risk management is essential for improving an organization’s risk profile.  RSA Archer can help your organization better understand and manage its risk on one configurable, integrated software platform. With RSA Archer solutions, organizations can efficiently implement risk management processes using industry standards and best practices and significantly improve their business risk management maturity.

 

For more information, visit RSA.com or read the Datasheet.

 

Thorough due diligence is a necessity when entering into an agreement or contract with another party, especially in the case of mergers and acquisitions.  However, due diligence activities can apply to any business situation requiring an investigation where proof that a "diligent" effort was put forth to obtain pertinent information in a forthcoming matter.  In the case of mergers and acquisitions, due diligence is a vital activity and can take several months of intense analysis if the target firm is a large business with a global presence.  This process often unveils risk insights and can help your organization plan for impacts to the business.      

 

Organizations need a way to define what due diligence activities are required and to track the results of those activities.  The RSA Archer Due Diligence Management app-pack enables you to define and manage the due diligence activities required for a thorough investigation of the target entity. The offering defines a framework for all due diligence activities making it consistent and repeatable, while providing visibility into the status of due diligence activities.  The due diligence framework can be defined specifically for your organization to ensure everyone within the organization is conducting the required due diligence for every target entity.  Due diligence activities are assigned and reviewed to ensure all activities have been completed, resulting in lower risk mergers and acquisitions.

 

With the RSA Archer Due Diligence Management app-pack, you can determine the scope of each due diligence project, track the due diligence tasks to completion, confirm and verify information through investigation, and provide recommendations based off of factual data and reports.

 

RSA Archer Due Diligence Management allows you to:

  • Offer a consistent and repeatable process for conducting due diligence
  • Implement a structure for due diligence checklist
  • Obtain visibility into the status of the due diligence activities required

 

Interested in learning more about the RSA Archer Due Diligence Management app-pack? Join us for a Free Friday Tech Huddle on Friday, March 29 for a live demo. Free Friday Tech Huddles are only available to RSA Archer customers. If you are not yet a customer but you are interested in learning more, please contact your local representative or authorized reseller—or visit us at www.rsa.com.

 

What is Operational Risk?

The Risk Management Association defines operational risk as “the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events.” Sources of operational risk include natural and man-made disasters, cyber-attacks, errors, fraud, and regulatory or contractual non-compliance.

 

Why is Operational Risk Management so important?

For many organizations, effective operational risk management is inherently complex. As organizations grow in size and complexity, convert to digital, move into new markets, introduce new, more sophisticated or novel products and services, becomes subject to more regulatory obligations, or extends its third party dependencies, it becomes much more difficult for the organization’s management and board of directors to understand and manage its risks.  Without a clear understanding of their risks, these organizations tend to experience more surprises and losses, and have a more difficult time achieving their objectives and strategies.  Some operational risks may threaten the very existence of the organization, or the livelihood of its managers and board members.  Consequently, these risks must be effectively identified, assessed, and managed by business unit leaders (the first line of defense) and executive management to adequately protect the organization’s leadership and ensure the organization can meet its objectives.

 

Without engaging the first line of defense in identifying risk, and using consistent methodologies and measurements to assess risk, there is no way to provide executive management and the Board with an accurate and aggregated view of risk across the business.  Good operational risk management protects the organization from operational losses and surprises.

 

RSA Archer Operational Risk Management

RSA Archer Operational Risk Management is a combination of use cases that are core to a typical operational risk management program. These elements include: Top-Down Risk Assessment, Bottom-Up Risk Assessment, Loss Event Management, Key Indicator Management, Risk and Control Self-Assessments, Issues Management, and Scenario Analysis. RSA Archer Operational Risk Management enables cataloging business processes and sub-processes, documenting risks associated with business processes, and  control procedures. Risk self-assessments can be performed on a top-down basis, through first line of defense self-assessments, and through targeted bottom-up assessments. Loss events can be cataloged, root-cause analysis performed and routed for review and approval. Key risk and control indicators can be established and associated with risk and control registers, respectively, and monitored to provide early warning of changes in the organization’s risk profile. By integrating these use cases, risk managers have a comprehensive operational risk management program that reinforces desired accountability and risk management culture throughout the organization, providing necessary transparency through reporting, dashboards, and notification alerts.

 

Key features include:

  • Consolidated view into business processes, risks, controls, loss events, key indicators, and outstanding issues; an understanding of how they are all related; and accountability for each
  • Support for first line of defense self-assessments, and top down and bottom up risk assessments
  • Efficient management of self-assessment campaigns by second line of defense stakeholders, including necessary workflow to vet and challenge first line of defense assessments
  • Capture and perform root cause analysis on internal losses and near misses, and relevant external loss events, routing loss events to stakeholders for review and approval consistent with delegated authorities and loss type.
  • Enforce consistency in creation of risk and control registers through the use of risk and control libraries
  • Catalogue risk scenarios and capture and perform scenario risk assessments
  • Understand inherent and residual risk and observe changes in calculated residual risk while rolling up risks by business unit and enterprise risk statement
  • Robust key risk and control indicator program management to provide early warning and remediation
  • Consolidated issues management with a clear understanding at all times of the status of all open remediation plans and exceptions
  • Visibility into operational risk via predefined reports, risk dashboards, workflow, and notifications
  • Perform risk assessments qualitatively, quantitatively using monetary values, and support Monte Carlo simulation based on expert elicitation and loss events.

 

RSA Archer Operational Risk Management enables:

  • Better understanding of risks and controls throughout the organization
  • Improved risk management and risk management culture by engaging the first line of defense (business users) to take ownership of their risks and controls
  • Quicker detection and management of changes in risk profile
  • More efficient administration of the operational risk management program, allowing second line of defense teams to spend more time on analysis and less time on administration and reporting
  • Less time required to identify and resolve operational risk-related problems
  • Reduction in audit findings, surprises, loss events, and incidents,
  • Ability to clearly demonstrate the design and effectiveness of your organization’s risk management program

 

Today, organizations are faced with complex and fast moving challenges.  RSA Archer Operational Risk Management addresses the core requirements of an effective Integrated Risk Management program.  Stressing the agility and flexibility needed by today’s modern organizations, integrated risk management brings together the various domains of risk across business activities (horizontally), connecting the activities to the strategies and objectives of the organization on an aggregated basis (vertically). This approach to risk management provides leaders with the most holistic understanding of risk facing their organization so they can make truly informed decisions about where to deploy limited capital and human resources to produce optimized returns for the organization while maximizing the likelihood of achieving the organization’s objectives.

As your organization drives business growth through an extended ecosystem strategy, your risk management program must evolve and manage risk more holistically, with more agility and integration than before. Effective risk management is essential for improving an organization’s risk profile.  RSA Archer can help your organization better understand and manage its risk on one configurable, integrated software platform. With RSA Archer solutions, organizations can efficiently implement risk management processes using industry standards and best practices and significantly improve their business risk management maturity.

 

For more information, visit RSA.com or read the Datasheet.

 

What is Operational Risk?

The Risk Management Association defines operational risk as “the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events.” Examples of operational risk include natural and man-made disasters, cyber-attacks, errors, fraud, and regulatory or contractual non-compliance.

 

Why is Bottom-Up Risk Assessment so important?

The introduction of new products and services, mergers and acquisitions, business process changes, and fraud are often viewed as risk projects to be evaluated when making decisions to move forward or enhance risk treatments. All too often, these kinds of operational project reviews are performed on an ad-hoc basis, using an unstructured and inconsistent approach. Bottom-up, project-oriented risk assessments are prone to incomplete and unreliable information. In addition, IT and business teams are often asked to collect the same assessment data via spreadsheets, Word documents, and email for different risk and compliance assessments. This manual approach results in missed project deadlines,  inconsistent and inaccurate risk assessments, risk treatments, and remediation plans. Manual approaches also often inefficient and expensive, and lack an easy way to compare results of multiple assessments. Since risks cannot be identified or assessed properly, losses, incidents, or other surprises related to the project may arise at a later date. Without visibility to or accountability in addressing known risks identified through bottom-up risk assessments, resource misallocation and slow implementation in risk treatment are the typical results.

 

RSA Archer Bottom-Up Risk Assessment

RSA Archer Bottom-Up Risk Assessment allows you to engage your teams via targeted project risk assessments. Projects can include such things as new and changing business processes, fraud assessments, new products and services, and proposed mergers, acquisitions, and divestitures.  Projects can be documented and questionnaires can be created with custom questions, as well as questions derived from RSA Archer’s extensive library of thousands of out-of-the-box questions. When risks are deemed too high, risk treatments and remediation plans can be documented and tracked through to resolution and approval.

 

Key features include:

  • Consistent approach to identify and assess project-related risk
  • Oversight and management of all risk assessments in process
  • Risk treatment plans are known across all assessments and implementation plans can be monitored to completion
  • Consolidated list of prioritized risk treatments and remediation plans
  • Visibility into assessment progress, risk treatments and remediation activity via pre-defined reports and risk dashboards
  • Named accountability for assessments and remediation plans

 

RSA Archer Bottom-Up Risk Assessment provides:

  • Consistent approach to identify and assess project-related risk
  • Oversight and management of all risk assessments in process
  • Known risk treatment plans across all assessments and implementation plans that can be monitored to completion
  • Consolidated list of prioritized risk treatments and remediation plans
  • Visibility into assessment progress, risk treatments and remediation activity via pre-defined reports and risk dashboards
  • Accountability for risk assessment and remediation activities

 

Today, organizations are faced with complex and fast moving operational risk challenges.  Tracking changing business activities is a core best practice in Operational Risk Management.  RSA Archer Bottom-Up Risk Assessment is a key element of an effective Operational and Integrated Risk Management program to assess risk associated with changing business activities.  Stressing the agility and flexibility needed by today’s modern organizations, integrated risk management brings together the various domains of risk across business activities (horizontally), connecting the activities to the strategies and objectives of the organization on an aggregated basis (vertically). This approach to risk management provides leaders with the most holistic understanding of risk facing their organization so they can make truly informed decisions about where to deploy limited capital and human resources to produce optimized returns for the organization while maximizing the likelihood of achieving the organization’s objectives.

 

As your organization drives business growth, your risk management program must evolve and manage risk more holistically, with more agility and integration than before. Effectively performing Bottom-Up risk assessments is one ingredient to demonstrating real progress and improvement in decreasing business risk.  RSA Archer can help your organization better understand and manage risk assessments on one configurable, integrated software platform. With RSA Archer solutions, organizations can efficiently implement risk management processes using industry standards and best practices and significantly improve their business risk management maturity.

 

For more information, visit RSA.com or read the Datasheet.

 

 

 

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