Several companies in the retail industry are banding together to strengthen their defenses against hackers and data breaches. The industry initiative, known as the Retail Cyber Intelligence Sharing Center (R-CISC), is an independent organization through which more than 50 of the nation’s largest retailers, federal law enforcement, and government agencies can share cyber-threat information to […]
Risk Management
Posted inRisk Management
Cyber-Attacks, Though Epidemic, Fail to Raise Alarm
Many multinational companies—across all sectors—continue to underestimate the risks posed by cyber-crime, leaving themselves vulnerable to a security breach. Even as cyber-attacks on corporate networks become epidemic, such risks have done little to illicit the type of alarm that senior leadership teams should be sounding, says Sean Joyce, former FBI deputy director and now principal […]
Posted inInternal Controls
States Making Tough New Breach Notification Demands
Florida put a tough new cyber-breach notification law into effect at the start of the month, replacing its older statute with more stringent demands upon any company that so much as interacts with consumers there. The state is hardly alone. Lacking a comprehensive federal law to guide the notification process, 47 states, the District of […]
Posted inInternal Controls
Officer With Many Hats: Study Confirms Frazzled CCO
Nobody ever said the life of a chief compliance officer would be easy. The job is evolving so rapidly that many are struggling to keep pace with an ever-expanding list of demands. As the regulatory and enforcement landscape becomes more complex, the biggest challenge currently facing compliance officers is how to play a more strategic […]
Posted inData Privacy
When Hackers Attack Hedge Funds
News began to spread last month about an extraordinary cyber attack on a large hedge fund that struck at the firm’s high-speed trading apparatus. The assault appeared to take the hacking of financial firms to a whole new level. According to an executive at BAE Systems, the firm was hired to help the hedge fund […]
Posted inInternal Controls
RTI International Metals Names Chief Risk Officer
RTI International Metals, an integrated global supplier of advanced titanium and specialty metals products and services, has named Bill Hull to the newly-created role of chief risk officer, effective as of July 1. Hull, who’s served as RTI’s chief financial officer for the last seven years, will now have responsibility for enterprise-wide risk management activities, […]
Posted inEthics & Culture
As Sustainability Reporting Matures, Focus Shifts to Materiality
Corporate America is on the verge of a major revolution in sustainability reporting. Everything—the what, how, and when—is about to change. The way companies have traditionally approached sustainability reporting is to disclose in anecdotal terms their environmental, social, and corporate governance (ESG) efforts in their annual reports. A lack of standard disclosure metrics, however, continues […]
Posted inBoards & Shareholders
Boards Struggle With Overseeing Cyber-Security Risks
With cyber-attacks becoming more frequent and costly for companies, boards are looking to provide more oversight on cyber-security risks, but many are stuck on just how to do it. Earlier this month, during a speech, Securities and Exchange Commission member Luis Aguilar expressed his hope that public companies will consider board-level risk committees to address […]
Posted inRisk Management
Getting to Global Financial Crisis 2.0
Let’s talk about global financial meltdowns and economic disaster. We have some fresh thinking on that subject. Last week the International Organization of Securities Commissions published its annual survey of securities markets risks, which takes a look at what’s on the mind of securities regulators around the world. In theory, IOSCO members (the Securities and […]