Exploring the cyber risk management landscape
3 February 2021
About the episode
In this episode of the ORX Operational Risk Podcast, Melanie Lavallin and Steve Bishop, who lead our work on cyber, discuss the current risk management landscape and the challenges facing cyber and information security risk managers today.
"The current cyber risk management landscape is complex. We see this being driven by two factors. We have this external threat that evolves at a rapid pace so organisations are constantly playing catch up...the other factor that we really see contributing to the complexity is that financial services as an industry is undergoing a really large-scale, rapid change."
They touch on the impact of the pandemic and digitalisation, and look at the work ORX has carried out so far on cyber and information security risk. You can read and download highlights from some of this research for free on our website.
They then discuss how our new service, ORX Cyber, can help financial organisations overcome the challenges they face in this area through collecting and sharing data, building a community, helping organisations understand their risk exposure and research studies.
Listen to the full episode for more
"What we're really seeing is that the sharing of information and events across the community will enable them to for the first time get an anonymous view of the types of events that their peers are suffering, the quantity of events, the control failures and really get a good understanding of what that looks like."
ORX Cyber: A guiding light for cyber risk management
ORX Cyber is available to members and non-members of ORX. It's a unique operational risk management service that combines loss data exchange with collaboration and research to provide second line practitioners with the insights and information they need to effectively manage and measure this key risk.