Understanding New Technology and Security Risks as you respond to COVID-19

Understanding the New Technology and
Security Risks as You Respond to COVID-19
May 28, 2020
1
The Leader in
Information Risk Management

| Copyright ©. SafePaaS, Inc.| Copyright ©. SafePaaS, Inc.
• Our Presenters
• Company Introductions
• How Did We Get Here?
• What are the Emerging Risks?
• Financial Risks
• Operational Risks
• Customer & Supply Chain Risks
• Enterprise Data Risks
• Remote Work Risks
• Technology and Security Risk Assessment
• Case Study
2
AGENDA

| Copyright ©. SafePaaS, Inc.
Adil Khan
CEO
SafePaaS
Adil Khan is CEO at SafePaaS with over 15 years of experience in enterprise business systems.
Adil also serves on the board of the Oracle Applications Users Group Internal Controls and
Security Interest Group (OAUG-ICSSIG). Adil has authored “Governance, Risk and Compliance
Handbook for Oracle Applications”. He has delivered over fifty presentations on GRC trends,
best practices and case studies at many industry conferences including Gartner GRC Summit,
IIA, ISACA, Collaborate, UKOUG and Oracle OpenWorld. Adil has successfully designed and
implemented internal controls management systems for more than 15 global companies listed
on the NYSE and NASDAQ. His expertise includes streamlining and automating Governance
Risk and Compliance processes based on industry standards such as ERM-COSO and CoBIT.
Presenters
Dan is a strategic advisor within the consulting services delivery organization. Dan has 15 years
of experience concentrated in developing IT infrastructure, business applications, support,
processes, standardization and compliance strategies. Dan’s experience in the business
applications area includes hands on experience, as well as leading both support and delivery
teams to meet key deadlines and deliver results. He has led project teams in the software
selection, process implementation and other large implementations across multiple industries.
Dan Miller
Director
Altum Strategy
Group
3

• Our Presenters
• Financial Risks
• Case Study
4
AGENDA

• GRC Handbook: The GRC Handbook for Oracle
Applications with Oracle VP, Nigel King
• E-Book Series: GRC insight, best practices and
trends
• Monthly Educational Webinars: Every 3rd
Wednesday in the month 12 Noon EST
• Oracle OpenWorld Dubai – January 2020
• Rocky Mountains Oracle User Group – User
Provisioning – Colorado February 8 2020
• Breakfast Round Table – Searchlight
Consulting – April 28 2020
• OATUG Online Forum – Data Breaches are the
New Normal - May 1 2020
• Data Protection World Forum – Creating a
Risk Framework for Healthcare 3rd-party risk
May 28 2020
PROVEN EXPERTISE
✔ Multi-Platform SoD
✔ Transaction/Config Monitoring
✔ Roles Management
Global Insights
Thought Leadership
5

Altum Strategy Group was built with the mission to:
• Enable organizations to manage through challenges.
• Be a strategic partner to assist clients with tackling the business,
technology, and operational challenges within an ever changing
environment.
• Maximize value and achieve strategic goals across people,
processes, and technology.
• Provide our clients with a unique perspective to operate with
visibility across key areas, bridging any potential gaps, and delivering
solutions that drive optimization and introduce efficiencies.
6

• Our Presenters
• Financial Risks
• Case Study
7
AGENDA

How Did We Get Here?
Public Health
Concerns
Remote
Workforce
Stabilization of the
Remote Workforce
The New
Normal
8

• Our Presenters
• Financial Risks
• Case Study
9
AGENDA

New Business Technology and Security Challenges Created by the Pandemic
Source: CohnReznick/ SafePaaS
• Business processes bottlenecks with broken workflows
• Sustainable remote workforce
• Access Security to critcial business systems
• Automation of manual business processes and workflows
• Anticipation of changes in accounting and financial filings
• Automation of accounts payable functions
• Enablement of Accounts Receivables
• Streamline of financial close process
• Cyber attacks
10

| Copyright ©. SafePaaS, Inc.11
Response to the pandemic

| Copyright ©. SafePaaS, Inc.12
Response to the pandemic

| Copyright ©. SafePaaS, Inc.| Copyright ©. SafePaaS, Inc.13
What are the Emerging Risks?
Financial
Customer
Remote
Team
Operational
COVID-19Emerging
Risks
Financial Risks Include:
• Financial Positions
• Workflows built with in
office controls
Operational Risks Include:
• Inconsistent supplies
• Inconsistent payments &
purchasing
Customer Risks Include:
• Economic uncertainty
• Government changes &
regulations
Remote Risks Include:
• Increased collaboration
and information sharing
• Personal use devices
(tablets, phones,
personal PCs)

Finance Risks
Cash Positions
Maintaining
Sufficient Levels
of Liquidity
Credit
Planning,
Budgeting
& Forecasting
Challenges with
Accurate Budgets
Build and Delivery
Plans
Reporting Risks
Changing Regulations
& Evolving
Government
Regulations
Providing &
Extending
Appropriate
Credit Lines
14

• The COVID-19 pandemic has affected key entities along the supply
chain:
15
Customer & Supply Chain Risks
Entities Challenge
Supplier Consistent Delivery of Raw Materials
Manufacturer Multiple “At Risk” Suppliers & Unstable Workforce
Distributor Unstable Workforce & State/Local Regulations
Customer Inconsistent Consumer & Retail Closures
Consumer Economic Uncertainty & Panic Buying

Raw Materials
Distribution
Consumer
Manufacturing
Supplier
Customer
Customer & Supply Chain Risks
16

Enterprise Data Risks
• Data Classification does
Not Account for
Collaboration Platforms
DataClassification
• Clear Ownership &
Stewardship has Not Been
Established
Ongoing Ownership
• Incomplete Needs Identification
• Ongoing Workarounds
Analysis & Identification
• Policies not Defined to Support
Long Term Remote Access
Policy Definition
• Use Assessments Have
Focused on Positive
Results
Assessment
1 2 3 4 5
17

Remote Work Risks
Cybersecurity Risks
Increased Phishing,
Hacking & Third-Party
Attacks
Rapid Device Deployment
Potential Protections not
Properly Deployed
Additional Endpoints using
VPN
Training
Team Members Unaware
of Key Processes &
Procedures
Employee Efficiency
Are Team Members using
Work Arounds to Increase
Efficiency
Collaboration Tools
Team Members Using
Unsecured Channels and
Storage Methods
Mobile Offices
Team Members Leaving
Laptops open in Public
Areas.
18

• Our Presenters
• Financial Risks
• Case Study
19
AGENDA

Information Controls Maturity Model
Informal:
▪ Adhoc approach
▪ Compliant but at a
high cost to
business
▪ Manual control
▪ No best practices
Reactive:
▪ Tactical approach
▪ Risks are
documented
▪ Manual risk
assessment
▪ After the fact
reporting
Proactive:
▪ Unified,
standardized &
strategic approach
▪ Policies are
enforced
▪ Automated process
▪ Prevent policy
Optimized:
▪ Control objectives
embedded
throughout the
organization
▪ Analyze and trend
▪ Automated risk
mitigation /
Predictive risk
assessments
IT Governance: Continuous Controls Monitoring
Process Controls Management
Predictive Analytics
IT Governance: Application Access Controls
Audit, Risk and Compliance Management

Information Management Controls Platform
Predictive Analytics
Process Controls Management
IT Governance: Access Controls Management IT Governance: Continuous Controls Monitoring
Audit Risk and Compliance Management
SafeInsight
ProcessPaaS
ARCPaaS
AccessPaaS MonitorPaaS
Process Analytics Risk Analytics Audit Analytics ERP Analytics Access Analytics Data Analytics
Customer Order Manager Data/Doc ManagerFinancial Close Manager People ManagerProcurement Manager
Policy Monitor
Roles Manager
SOD Scanner
iAccess
Access Monitor
FireFighter
Master Data Monitor
Data Privacy Monitor
App Life Cycle Monitor
Transaction Monitor
Configuration Monitor
Audit Manager Risk Manager Compliance Manager Policy Manager Rules Repository Risk Library
DataProbeIntegrationServices
Fine-Grained
IDM Watchlist Monitor

Turn Hidden Business Risks into Opportunities
Data GroupsDB Schema API’sUser Events
Data-source
SP Change Records Security
SafeInsight™ Advanced Analytics
Data Discovery
• Interact with your data quickly
and intuitively
• Use dynamic charts and graphs
to understand key relationships
Risk Analysis
• Apply quality-tested algorithms
based on the latest risk
methodologies
• Quantify Risk, Prepare adequate
risk treatment
Process Optimization
• Find bottlenecks, rework, order
changes, and other symptoms
of waste an inefficient
processes.
Quantitative Measure
• Identify relevant process KPIs
and Measure transparently for
improvement
Simulation
• Consider business scenarios
• Determine the best allocation of
resources
• Implement the best plans for
accomplishing goals
Rules Repository
• Metadata driven global
business best practices
• Get fast access to business
bottlenecks and risks

Continuous Controls Monitoring

Multi-Platform Solution
24
DataProbe – Configurable ETL for Risk Discovery in Cloud & on Premise
Metadata Audit Rules Datasource Map Secure Transfer Workflows

Risk Assessment Key Risk indicators

Remote Workforce Management

ERP System Risk Monitoring

• Our Presenters
• Financial Risks
• Case Study
28
AGENDA

Global Tire Manufacturer Improves Operational Risk Management with Integrated KRI
Analytics
Our Client
• Global tire manufacturer with sales in tires in North
America, Latin America, Europe, and Asia
• Founded in 1914 and headquartered in Ohio.
Challenges
• Factory data required from international manufacturing
sites is not readily available to management for timely risk
management
• Customer data outside of USA not available to measure
product quality and service across the enterprise
• Finance team unable to analyze raw material costs vs
selling price by region for management reporting
• Disaster recovery and continuity plans require effective
alert management system systems
Solution
• SafeInsight™ / ARCPaaS™
Results:
• Reduction in manual reporting time: Reduced
KRI data collection and business analysis time by
75% while increasing the access to critical KRIs
from monthly reporting to daily dashboards.
• Increased access to capital: Improved visibility
into raw material costs and advanced price
analytics accelerated debt payments and other
financial obligations. As a result, increased bond
rating with institutions and creditors
• Detect and Remediated BCP Risks: KRI
dashboards revealed more than five BCP “single
points of failure” and system vulnerabilities that
enabled management to identify the critical
activities and dependencies that support the
delivery of key products/services.

Key Risk Indicators

Global Supply Chain Cost Management

Global Manufacturing Capacity Management

Consumer Quality Management

Employee Communication Effectiveness

Business Continuity Management

For more information contact:
https://safepaas.com
emma.kelly@safepaas.com
You can also follow us at:
https://www.linkedin.com/company/safepaas/
https://twitter.com/safepaas

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