Governance, Risk and Compliance- Energy Industry MetricStream Inc
Â
Case Study:Large Fortune 500 Energy Organization selects MetricStream's GRC solution to create a proper governance structure and GRC processes across the enterprise.
Governance, Risk and Compliance- Energy Industry MetricStream Inc
Â
Case Study:Large Fortune 500 Energy Organization selects MetricStream's GRC solution to create a proper governance structure and GRC processes across the enterprise.
7. Effective Risk management is fundamentally about appropriate decision making. We all make decisions every single day; some decisions will create threats or opportunities whilst some will mitigate threats. Risk management helps us take decisions which are appropriate to the level of risk we are willing to take.
http://www1.unece.org/stat/platform/display/hlgbas/2016+Workshop+on+the+Modernisation+of+Official+Statistics
Risck intelligence in the energy and resources industry Franco Ferrario
Â
DELOITTE TECHNOLOGIES
Risk Intelligence in the Energy & Resources Industry
Enterprise Risk Management Benchmark Survey Report
Upload by Franco Ferrario CIO Temporary Manager
Designing and maintaining an effective AML compliance program has proven to be a challenge for many organizations.
A good AML program covers the areas of governance, management, assurance, and monitoring needed to establish an effective and holistic view of their AML requirements.
Corporaterâs AML solution enables you to holistically govern, manage, and assure your AML program across the three lines of defense. Learn more â http://bit.ly/2NmChwF
CISSPills are short-lasting presentations covering topics to study in order to prepare CISSP exam. CISSPills is a digest of my notes and doesn't want to replace a studybook, it wants to be only just another companion for self-paced students.
Every issue covers different topics of CISSP's CCBK and the goal is addressing all the 10 domains which compose CISSP.
IN THIS ISSUE:
Domain 3: Information Security Governance and Risk Management
- Enterprise Architectures
- Enterprise Security Architectures
- Capability Maturity Model Integration (CMMI)
A flexible and agile platform TO BETTER MANAGE RISK AND CORPORATE ETHICS. The objectives of risk management can be described as the culture, processes, and structures that are directed
towards realizing potential opportunities whilst managing an adverse effect. PracticeLeague Risk Management System helps in managing risks and gives insights and actionable to keep those risks to an acceptable minimum.
CISSPills are short-lasting presentations covering topics to study in order to prepare CISSP exam. CISSPills is a digest of my notes and doesn't want to replace a studybook, it wants to be only just another companion for self-paced students.
Every issue covers different topics of CISSP's CCBK and the goal is addressing all the 10 domains which compose CISSP.
IN THIS ISSUE:
Domain 3: Information Security Governance and Risk Management
- Security Management
- Risk Management
- Risk Assessment
- Risk Analysis
- Information Risk Management Policy
- Risk Assessment Methodologies
- Risk Analysis Approaches
- Steps of a Quantitative Risk Analysis
- Control Selection
- Total Risk vs Residual Risk
- Risk Handling
Increasing Business Agility: An Integrated Approach to Governance, Risk, and ...FindWhitePapers
Â
This SAP Executive Insight focuses on helping executives determine: What are the consequences of today’s typical GRC approaches? Where do their organizations stand from a GRC maturity perspective? How can they lay the foundation for an effective GRC strategy?
On average organizations spend $10M+ responding to third-party security breaches each year. Third-Party Risk Management (TPRM) is the process of analyzing and controlling risks presented to your organization by outsourcing to third-party service providers (TPSP). TPSP relationships can introduce strategic, financial, operational, regulatory, and reputational risks.
For example, some TPSPs are involved in the storage, processing, and/or transmission of cardholder data (CHD), while others are involved in securing cardholder data, or securing the cardholder data environment (CDE).
Digital relationships with third-party providers increase opportunities for growth, but they also increase opportunities for cyberattacks â a recent study found that 61% of U.S. companies said they had experienced a data breach caused by one of their third-party providers (up 12% since 2016).
Learn more about:
⢠TPSP lifecycle,
⢠The effects of due diligence,
⢠The five critical control objectives, and
⢠How to build an effective risk assessment questionnaire.
To learn more, visit: https://bit.ly/3vQ4DjC
How to embed emerging risk identification and management IRMindia AffiliateIRM India Affiliate
Â
The Institute of Risk Management (IRM) is the leading professional body for Enterprise Risk Management
(ERM). We drive excellence in managing risk to ensure organisations are ready for the opportunities
and threats of the future. We do this by providing internationally recognised qualifications and training,
publishing research and guidance, and setting professional standards.
For over 30 years our qualifications have been the global choice of qualification for risk professionals and
their employers. We are a not-for-profit body, with members working in all industries, in all risk disciplines and
all sectors around the world. In 2019, the IRM welcomed the Institute of Operational Risk (IOR) into the IRM
group. www.theirm.org
We hope that you have read the first and second guides An Introduction to Identifying Emerging Risks, and
How to assess and treat Emerging Risks. These publications help you to identify and tackle potential risks
that may impact your organisationâs strategic objectives should they occur. In part one of this publication,
we offer tools and techniques to take that work and embed it within your organisation, with part two
providing ideas on how to tackle the leadership conversation about emerging risk management.
Greater awareness in recent years of the volatility of the risk environment, together with the regulatory impetus provided by
corporate governance requirements, has placed effective risk management high on the corporate agenda. Changing attitudes
to risk management have also resulted in the emergence of a more holistic and proactive approach to managing exposures.
Digital technologies, devices and
media have brought us great
benefits and offer enormous
opportunities but their use also
exposes us to significant risks.
The media regularly present us
with examples of organisations
that have suffered financial loss
and reputational damage as a
result of problems arising from
their information technology
systems, whether this is as a result
of human error, deliberate
wrongdoing or some other form
of technology systems failure.
Governments and regulators
are getting interested and are
increasingly calling on businesses
to take action to protect both their
own assets and also the national
infrastructure.
https://www.theirmindia.org/
P&C Claims Automation Solution - A Competitive AdvantageParagon Solutions
Â
Paragon Solutions, Inc.
Mike Cloutier â Vice President Insurance Markets
http://www.consultparagon.com/industries/insurance/property-and-casualty.html
ACORD Conference May 15-17, 2012
Metricstream today announced the release of the next version of its Risk Management solution which will empower organizations to proactively assess, manage and monitor varied organizational risks.
7. Effective Risk management is fundamentally about appropriate decision making. We all make decisions every single day; some decisions will create threats or opportunities whilst some will mitigate threats. Risk management helps us take decisions which are appropriate to the level of risk we are willing to take.
http://www1.unece.org/stat/platform/display/hlgbas/2016+Workshop+on+the+Modernisation+of+Official+Statistics
Risck intelligence in the energy and resources industry Franco Ferrario
Â
DELOITTE TECHNOLOGIES
Risk Intelligence in the Energy & Resources Industry
Enterprise Risk Management Benchmark Survey Report
Upload by Franco Ferrario CIO Temporary Manager
Designing and maintaining an effective AML compliance program has proven to be a challenge for many organizations.
A good AML program covers the areas of governance, management, assurance, and monitoring needed to establish an effective and holistic view of their AML requirements.
Corporaterâs AML solution enables you to holistically govern, manage, and assure your AML program across the three lines of defense. Learn more â http://bit.ly/2NmChwF
CISSPills are short-lasting presentations covering topics to study in order to prepare CISSP exam. CISSPills is a digest of my notes and doesn't want to replace a studybook, it wants to be only just another companion for self-paced students.
Every issue covers different topics of CISSP's CCBK and the goal is addressing all the 10 domains which compose CISSP.
IN THIS ISSUE:
Domain 3: Information Security Governance and Risk Management
- Enterprise Architectures
- Enterprise Security Architectures
- Capability Maturity Model Integration (CMMI)
A flexible and agile platform TO BETTER MANAGE RISK AND CORPORATE ETHICS. The objectives of risk management can be described as the culture, processes, and structures that are directed
towards realizing potential opportunities whilst managing an adverse effect. PracticeLeague Risk Management System helps in managing risks and gives insights and actionable to keep those risks to an acceptable minimum.
CISSPills are short-lasting presentations covering topics to study in order to prepare CISSP exam. CISSPills is a digest of my notes and doesn't want to replace a studybook, it wants to be only just another companion for self-paced students.
Every issue covers different topics of CISSP's CCBK and the goal is addressing all the 10 domains which compose CISSP.
IN THIS ISSUE:
Domain 3: Information Security Governance and Risk Management
- Security Management
- Risk Management
- Risk Assessment
- Risk Analysis
- Information Risk Management Policy
- Risk Assessment Methodologies
- Risk Analysis Approaches
- Steps of a Quantitative Risk Analysis
- Control Selection
- Total Risk vs Residual Risk
- Risk Handling
Increasing Business Agility: An Integrated Approach to Governance, Risk, and ...FindWhitePapers
Â
This SAP Executive Insight focuses on helping executives determine: What are the consequences of today’s typical GRC approaches? Where do their organizations stand from a GRC maturity perspective? How can they lay the foundation for an effective GRC strategy?
On average organizations spend $10M+ responding to third-party security breaches each year. Third-Party Risk Management (TPRM) is the process of analyzing and controlling risks presented to your organization by outsourcing to third-party service providers (TPSP). TPSP relationships can introduce strategic, financial, operational, regulatory, and reputational risks.
For example, some TPSPs are involved in the storage, processing, and/or transmission of cardholder data (CHD), while others are involved in securing cardholder data, or securing the cardholder data environment (CDE).
Digital relationships with third-party providers increase opportunities for growth, but they also increase opportunities for cyberattacks â a recent study found that 61% of U.S. companies said they had experienced a data breach caused by one of their third-party providers (up 12% since 2016).
Learn more about:
⢠TPSP lifecycle,
⢠The effects of due diligence,
⢠The five critical control objectives, and
⢠How to build an effective risk assessment questionnaire.
To learn more, visit: https://bit.ly/3vQ4DjC
How to embed emerging risk identification and management IRMindia AffiliateIRM India Affiliate
Â
The Institute of Risk Management (IRM) is the leading professional body for Enterprise Risk Management
(ERM). We drive excellence in managing risk to ensure organisations are ready for the opportunities
and threats of the future. We do this by providing internationally recognised qualifications and training,
publishing research and guidance, and setting professional standards.
For over 30 years our qualifications have been the global choice of qualification for risk professionals and
their employers. We are a not-for-profit body, with members working in all industries, in all risk disciplines and
all sectors around the world. In 2019, the IRM welcomed the Institute of Operational Risk (IOR) into the IRM
group. www.theirm.org
We hope that you have read the first and second guides An Introduction to Identifying Emerging Risks, and
How to assess and treat Emerging Risks. These publications help you to identify and tackle potential risks
that may impact your organisationâs strategic objectives should they occur. In part one of this publication,
we offer tools and techniques to take that work and embed it within your organisation, with part two
providing ideas on how to tackle the leadership conversation about emerging risk management.
Greater awareness in recent years of the volatility of the risk environment, together with the regulatory impetus provided by
corporate governance requirements, has placed effective risk management high on the corporate agenda. Changing attitudes
to risk management have also resulted in the emergence of a more holistic and proactive approach to managing exposures.
Digital technologies, devices and
media have brought us great
benefits and offer enormous
opportunities but their use also
exposes us to significant risks.
The media regularly present us
with examples of organisations
that have suffered financial loss
and reputational damage as a
result of problems arising from
their information technology
systems, whether this is as a result
of human error, deliberate
wrongdoing or some other form
of technology systems failure.
Governments and regulators
are getting interested and are
increasingly calling on businesses
to take action to protect both their
own assets and also the national
infrastructure.
https://www.theirmindia.org/
P&C Claims Automation Solution - A Competitive AdvantageParagon Solutions
Â
Paragon Solutions, Inc.
Mike Cloutier â Vice President Insurance Markets
http://www.consultparagon.com/industries/insurance/property-and-casualty.html
ACORD Conference May 15-17, 2012
Metricstream today announced the release of the next version of its Risk Management solution which will empower organizations to proactively assess, manage and monitor varied organizational risks.
A Financial Planning Leader Streamlines Audit, Risk and Compliance MetricStream Inc
Â
Case Study - A Financial Planning Leader selected MetricStream to automate and streamline audit, risk and compliance management (GRC) across the Enterprise.
Explore new thinking on potential risk to global supply chains and how companies are adopting the statistical methods more commonly associated with finance and insurance. Identifying and profiling risk variables, quantifying risk, and using IT solutions can create higher resilience.
Case Study - MetricStream offers a comprehensive GRC solution that addresses a wide range of health care regulations to reduce the overall cost of compliance management.
In all of its forms, risk management is rapidly growing in importance within the commodity asset class. It will only become even more critical and complex in the future. Driven by unprecedented levels of change in the industry ranging from geopolitics to carbon, effective risk management is shifting for many commodity firms from just another activity to be managed to a critical component of business strategy that helps drive and inform brand, gain financing and trust, and demonstrates proper controls.
Enterprise risk management is an underutilized management practice that allows community-based financial institutions to become more efficient, smarter, and better able to compete in an increasingly complex environment.
WolfPAC Solutions Group Director Michael Cohn creates a strong case on why community-based financial institutions should implement an enterprise risk management program to reduce costs and successfully achieve business goals in an increasingly competitive and regulated environment.
One of the fastest growing concerns on insurersâ enterprise risk agenda is model risk
management. From being a phrase that primarily actuaries and other modelers used, âmodel riskâ has become a major focus of regulators and the subject of intense activity and debate at insurers. How model risk management has evolved from ad hoc efforts to its currentproactive stage is an interesting story. But more interesting still is
what we believe could be its next stage â generating measurable business value.
MetricStream Regulatory Examination Management Solution has been widely adopted by banks and financial services organizations to streamline the entire regulatory examination process.
Powering SOX, NERC, FERC Compliance -Energy Industry MetricStream Inc
Â
Case Study: The MetricStream solutions streamline financial control processes for SOX compliance and enable energy companies to comply with FERC and NERC.
A leading manufacturer of golf equipment selects MetricStream to strengthen supplier quality compliance through real-time monitoring of inspections and process capability.
Case Study: An Independent System Operator (ISO) selects MetricStream NERC Compliance and Issue Management Solution to ensure market participants are complying with the NERC reliability standards.
Case Study -Â A Fortune 500 & global leader in the production of cereal and convenience foods has chosen MetricStream to automate & streamline their quality audit management.
Case Study - MetricStreamâs Audit Planning solution enabled the bank to create a risk-based audit plan with a well-defined objective and scope, in tandem with quality, compliance and risk management processes.
Global Bank Brings Compliance Risks under Control MetricStream Inc
Â
Case Study -Â MetricStream has delivered the Bank a complete end-to-end workflow automation system for the compliance risk management process across its business units, geographic locations and product lines.
Case Study - Major health insurance provider in the US needed a central system with a highly flexible GRC software architecture for managing its compliance and audit programs.
BCBS Affiliate strengthens its Healthcare Compliance through Automation and I...MetricStream Inc
Â
A leading healthcare coverage provider chosen MetricStreamâs healthcare compliance solutions to automate and streamline critical compliance workflows, while providing a common platform to integrate compliance management across the enterprise.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Â
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
Â
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Â
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Enhancing Performance with Globus and the Science DMZGlobus
Â
ESnet has led the way in helping national facilitiesâand many other institutions in the research communityâconfigure Science DMZs and troubleshoot network issues to maximize data transfer performance. In this talk we will present a summary of approaches and tips for getting the most out of your network infrastructure using Globus Connect Server.
Pushing the limits of ePRTC: 100ns holdover for 100 daysAdtran
Â
At WSTS 2024, Alon Stern explored the topic of parametric holdover and explained how recent research findings can be implemented in real-world PNT networks to achieve 100 nanoseconds of accuracy for up to 100 days.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
Â
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Â
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
Â
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
Dev Dives: Train smarter, not harder â active learning and UiPath LLMs for do...UiPathCommunity
Â
đĽ Speed, accuracy, and scaling â discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Miningâ˘:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing â with little to no training required
Get an exclusive demo of the new family of UiPath LLMs â GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
đ¨âđŤ Andras Palfi, Senior Product Manager, UiPath
đŠâđŤ Lenka Dulovicova, Product Program Manager, UiPath
Climate Impact of Software Testing at Nordic Testing DaysKari Kakkonen
Â
My slides at Nordic Testing Days 6.6.2024
Climate impact / sustainability of software testing discussed on the talk. ICT and testing must carry their part of global responsibility to help with the climat warming. We can minimize the carbon footprint but we can also have a carbon handprint, a positive impact on the climate. Quality characteristics can be added with sustainability, and then measured continuously. Test environments can be used less, and in smaller scale and on demand. Test techniques can be used in optimizing or minimizing number of tests. Test automation can be used to speed up testing.
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionAggregage
Â
Join Maher Hanafi, VP of Engineering at Betterworks, in this new session where he'll share a practical framework to transform Gen AI prototypes into impactful products! He'll delve into the complexities of data collection and management, model selection and optimization, and ensuring security, scalability, and responsible use.
SAP Sapphire 2024 - ASUG301 building better apps with SAP Fiori.pdfPeter Spielvogel
Â
Building better applications for business users with SAP Fiori.
⢠What is SAP Fiori and why it matters to you
⢠How a better user experience drives measurable business benefits
⢠How to get started with SAP Fiori today
⢠How SAP Fiori elements accelerates application development
⢠How SAP Build Code includes SAP Fiori tools and other generative artificial intelligence capabilities
⢠How SAP Fiori paves the way for using AI in SAP apps
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Â
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
Â
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
Removing Uninteresting Bytes in Software FuzzingAftab Hussain
Â
Imagine a world where software fuzzing, the process of mutating bytes in test seeds to uncover hidden and erroneous program behaviors, becomes faster and more effective. A lot depends on the initial seeds, which can significantly dictate the trajectory of a fuzzing campaign, particularly in terms of how long it takes to uncover interesting behaviour in your code. We introduce DIAR, a technique designed to speedup fuzzing campaigns by pinpointing and eliminating those uninteresting bytes in the seeds. Picture this: instead of wasting valuable resources on meaningless mutations in large, bloated seeds, DIAR removes the unnecessary bytes, streamlining the entire process.
In this work, we equipped AFL, a popular fuzzer, with DIAR and examined two critical Linux libraries -- Libxml's xmllint, a tool for parsing xml documents, and Binutil's readelf, an essential debugging and security analysis command-line tool used to display detailed information about ELF (Executable and Linkable Format). Our preliminary results show that AFL+DIAR does not only discover new paths more quickly but also achieves higher coverage overall. This work thus showcases how starting with lean and optimized seeds can lead to faster, more comprehensive fuzzing campaigns -- and DIAR helps you find such seeds.
- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
Â
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. Whatâs changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...
Â
Energy Risk Management
1. CASE STUDY
MetricStream A MAJOR ENERGY COMPANY EMBRACES A HOLISTIC, STRA-
TEGIC APPROACH TO RISK MANAGEMENT
Customer
The customer is one of the largest energy companies in the Unites States. It is home to a diverse mix
of businesses that generate, supply and manage energy products and services for a broad spectrum
of customers nationwide.
Overview
Risks are not new to the energy industry. Most companies have strategies in place to cope with
cyber-attacks, natural disasters, downgrades in credit ratings and other risks. However, recent events,
such as the financial crisis, have questioned the adequacy and effectiveness of these strategies. Risks
are only becoming more complex and interdependent. At the same time, networks are expanding,
Customer making it more difficult to manage enterprise-wide risks. Added pressure comes in the form of intense
ONE OF THE WORLDâS LARGEST ENERGY regulatory scrutiny, as well as the demand for renewable energy sources.
ORGANIZATIONS
In lieu of such developments, the energy companyâs goal was to foster a culture of proactive risk
management across its employees and contractors. The company also wanted to make risk assess-
Benefits ments an integral part of management decision-making.
Elimination of redundant systems and activities The key to achieving this goal was an integrated risk and control management framework. It would
With MetricStreamâs centralized platform, the energy help break down individual silos, establish common risk management processes, and improve visibil-
company has eliminatedfive redundant risk systems,
ity and transparency into these processes. At the same time, it would allow business and functional
over 300 complex spread sheets, and over 10 content
management sites. As a result, costs and resources areas to independently manage and monitor their own risks and controls. However, this goal was
have been saved. hindered by a number of organizational challenges:
Mitigated threat of silos
Across business units, MetricStream has streamlined
Challenges
risk and compliance workflows including SOX 404 Multiple risk and control terminologies
testing, risk management, legal regulatory compli- Each department in the company had its own risk and control terminologies. There were no common
ance, NERC compliance, Enterprise Risk Manage-
risk standards, definitions and risk rating methodologies. In addition, risks were classified based on
ment, disaster recovery, corporate audits and IT
infrastructure. Training process efficiencies have business units rather than corporate impact. This resulted in inconsistent risk evaluation, as well as
also been improved by tracking training statuses data discrepancies. Moreover, it was difficult for management to gain a clear understanding of the
through the common GRC system rather than through impact of risks and controls, as well as the status of risk mitigation across the enterprise.
separate initiatives.
Redundant risk management activities
Unification of risks The company employed multiple independent systems to manage its risks. Therefore, Enterprise risks
MetricStream solution has helped the company were managed on one system, SOX risks and controls on another, and SOX control testing on a third.
establish a unified rating scale to measure the prob-
The lack of collaboration between thesesystemsresulted in the duplication of controls and risk mitiga-
ability and severity of risks across the enterprise.
This enables mangersto prioritize risks more sharply, tion activities which, in turn, increased costs.
and determine which ones need more concentrated
mitigation plans, as well as regular monitoring. Manual Inefficiencies
The company used multiple complexspread sheets, email channels and content management sitesto
Standardized risk-control self-assessments record their assessments of risks and controls. The task of manually entering details and updates on
MetricStream Solution enables the company to cre- these systems proved laborious and time-consuming. In addition, the process was vulnerable to errors
ate a common risk vocabulary and evaluation criteria.
and subsequent data discrepancies.
As a result, risk-control assessments and monitoring
can be standardized and streamlined across business
units. In turn, the evaluation and reporting of risks Insufficient visibility into reports
can be improved. Managers can confidently decide The lack of a unified reporting system resulted in the production of multiple risk management reports
whether to enhance controls or accept risk levels as from each business unit. Consolidating these reports into actionable strategy at the enterprise level
they are. was both complex and time-consuming. It required merging large sets of data at various levels of
granularity to provide value-added information. Gaining quick access to the desired reports in the
Seamless collaboration and information sharing desired format was not often possible.
MetricStream solution breaks down organizational
barriers by providing a single point of reference to
share information and coordinate risk management
Change management threat
processes. The centralized information repository As the company migrated to an integrated risk management model, the threat of disruptions to busi-
enables policies, risk and control assessments and ness stability and sustainability were ever-present. Information could be lost, processes slowed down,
other critical information to be accessed quickly and and procedural or human errors incurred. What was required was collaboration and coordination
safely. It also establishes a single version of facts across departments, units and organizations. This was possible only though a centralized technology
which, in turn, improves transparency, and helps framework.
embed a strong risk culture across the enterprise.
Moreover, it equips management with the right
information to make deliberate strategic decisions at
any time.
2. MetricStream
Automation Solution
MetricStream ERM Solution has enabled the com-
pany to automate end-to-end workflows such as risk To achieve its goal of an integrated risk management model, the companydrew up an extensive busi-
identification, monitoring and issue remediation. As ness plan beginning with the creation of a governance structure. This structure was to be based on
a result, the need for manual, paper-based processes a top-down and bottom-up approach to risk management. At the top, a risk committee wouldset the
has been eliminated, and the time and effort required tone,and at the bottom, employeeswould be educated and motivated to assess and mitigate risks.
for various risk related activities has been reduced.
Information wouldseamlessly flow up and down this channel, enabling the creation of a strong risk
The risk of manual errors has also been minimized.
culture.
Roles and responsibilitieswere identified for various stakeholders in the new risk management model.
Risk Framework Risk Definitions For instance, the Board of Directors would identify the risk appetite, while the business units would
Ability to generate or obtain
populate the risk register with regular risk and control self-assessments.
â˘Corporate Funding sufficient cash, in a timely
â˘Collateral Requirements manner, to meet demands as
Liquidity â˘Contingency Funding they arise (expected and
unexpected)
The foundation of this new risk management model would be an integrated GRC system. The system
had to enable enterprise-wide collaboration, eliminate redundancies and improve transparency into
â˘Market Factor Sensitivity
Potential loss arising from
risk management processes.
â˘Volume Risk
â˘Market Liquidity adverse movements in
Market external market variables
â˘Investment Performance
After considering several solution vendors, the company selected MetricStream. The selection was
Risk of loss inherent in
based on MetricStreamâs advanced single platform approach to risk management, as well as its
â˘Settlement Risk
â˘Counterparty Performance
business segments, resulting
from counterparty failure,
successful track record in the energy industry. MetricStream also impressed with the flexibility of its
Credit â˘Supply Chain decreased creditworthiness,
and poor performance
platform to scale up to address future GRC requirements.
â˘People
â˘Process Risk of loss from inadequate The companypurchased MetricStream Integrated GRC platform with solutions for Enterprise Risk
or failed internal processes,
â˘Financial Reporting
â˘System people, financial reporting, Management, Corporate Compliance Management, Corporate Audit Management, Issue Management
Operational systems, or external events
â˘External and Policy/Document Management.
Risk of loss and
â˘Law Changes
â˘Non-Compliance
associated harm due to
the companyâs For the purpose of this study, Enterprise Risk Management will be the focus.
â˘Environmental Impacts interaction with the
Environmental â˘Environmental Positioning
environment
Enterprise Risk Management
â˘Industry Changes
â˘Demand Changes
Risk of unsuccessful performance
due to potential threats, actions, MetricStream Enterprise Risk Management Solution helps the company identify, assess, quantify,
or events adversely affecting the
Business &
â˘Competition
â˘Political Risk
organizationâs ability to achieve its monitor and manage its enterprise risks in an integrated manner. The solution is built on asingle
Strategic objectives
web-based platform that extends across the companyâs departments, units, suppliers, branches and
Potential negative publicity locations. Itconsolidates risks and controls, identifying concentrations and interdependencies. As a
â˘Unethical Behavior regarding business
â˘Crisis Management practices, regardless of result, the companyis able to streamline risk management workflows and establish a closed-loop risk
â˘Association Risk validity
Reputational
management process across the enterprise.
MetricStream solution also integrates enterprise-wide risk assessments, the results of which can be
leveraged by multiple business units and functions including Risk, SOX, Corporate, Audit, Environ-
mental, IT and Business Continuity departments. This collaborative pattern of functioning helps the
companybreak down operational silos and eliminate redundancies.
The solution also enables risk and control assignments to be independently managed downstream,
while simultaneously rolling information back upstream to provide enterprise-wide visibility for manag-
ers. Top-down and bottom-up risk identification and managementare supported. Therefore, while risk
identification may occur in any area, it is automatically mapped back to each business process.
Issues that arise during risk or control tracking are automatically routed to an issue management
module. Here, a systematic mechanism of investigation and remediation is set off by the underlying
workflow and collaboration engine. Simultaneously, automatic alerts and notifications are sent to the
appropriate personnel for investigation and remedial action.
Central risk repository
MetricStream provides a centralized library and framework to collate all risks, controls,key risk
indicators, key performance indicators, regulations, policies and other vital information.A common
risk register brings together all risk management data including risk description, severity, impact,
consequences, risk ratings, mitigation plans and related emerging issues.
Data is made available to all of the companyâsbusiness functions, and can be shared or aggregated to
enable more informed decision making. Communication is improved,while risk vocabularies and evalu-
ation criteria are standardized.
3. MetricStream
MetricStream âs information repository is equipped with an easy archival and search capability which
il enables users to quickly check if a risk related issue was resolved, or if a specific control was tested.
R eta This way, process repetition can be avoided, and data consistency maintained across the enterprise.
Business
Continuity
Ris
k
Cre ket
Le
dit
ga
l
r
na Risk Control Self-Assessments (RCSA)
Ma
Genera
l
io
at
Info er n MetricStream solution supports a repeatable RCSA process where each business unit identifies the
Op ma s
Techn
olo Libraries Hu ource risks impacting its process, and assigns probability and impact estimates. The risk assessments are
gy s
Hierarchy Re
tion
Business Corpo based on configurable methodologies and algorithms which provide an in-depth view of the organiza-
r
ntal Processes Secur ate tionâs risk profile, enabling managers to prioritize their risk mitigation plan for optimal returns.
o nme ity
Envir
R e mp
e
gu lia
dit rat
Co
SOX
Finance-
Once risk self-assessments are completed, MetricStream Solution aggregates the risk data, control
lat nc
Au rpo
or e
effectiveness monitoring and management reporting. At every stage, risks arelinked with the appropri-
Co
y
ale
ol
es ate mitigating controls, processes and policies. This simplifies information sharing and enables risk
W
h managers to monitor controls more effectively. Controls are defined and assessed based on predefined
criteria and checklists which support the scoring, tabulating and reporting of results.
âMetricStream has played a critical role in our
quest to build a proactive, fully integrated risk
management framework. Their Enterprise Risk
Management solution has seamlessly aligned Processes
with our strategic vision, as well as our sys-
tems, processes and units. It has broken down
silos, streamlined risk processes and helped
us build a more collaborative, efficient and
sustainable risk management framework. We Metrics & Risks
are delighted with the results, and look forward Loss Data
to extending the platform to other critical GRC MetricStream
areas,â said a spokesperson from the company.
Risk
Controls
Assessments
With MetricStream solution, the energy company can track risk metrics, loss events and near misses,
along with their root causes and owners, as well as their remediation plans. The companycan also
monitor risk thresholds through Key Risk Indicators which provide automatic notifications whenever
these thresholds are breached. Executive dashboards provide further visibility into the risk analysis,
highlighting the severity and likelihood of risks along with their current positioning.
4. MetricStream
Risk reporting
Why MetricStream MetricStream solution categorizes riskson various levels and presents them through detailed risk heat
maps which can be accessed globally. These heat maps and related graphical chartsdisplay real-time
MetricStreamâs solution provides a unified approach information, and can be drilled down to view the data at finer levels of detail.
and an integrated solution to meet strategic objec-
tives, as well as risk and compliance requirements. Operational risks, corporate risks and other high level risks are highlighted depending on their impact
on various functions and processes. This data then rolls up to the centralized core library and can
MetricStream Solution provides a centralized library
to hold policies, certifications, risk and control be used to create standard as well as customized reports for risk management activities across the
assessments and all other documentation for easy enterprise.
review and reference.
MetricStream Solution demonstrated the ability to
Sample Top Risks
Remote Moderate Likely Frequent
handle the companyâs specific requirements for an
ERM framework, risk terminology, consistency, rank-
ing methodology and more. ⢠Liquidity
MetricStream Solution ensures security of electronic
Probability
⢠Market
records, and provides time-stamped audit trails,
role-based access controls, electronic signatures and
⢠Credit
password management
⢠Operational
MetricStream has the ability to support large leading
organizations and meet their IT requirements in the
⢠Environmental
areas of integration, configurability, scalability and
security.
⢠Business & Strategic
Rare
MetricStream offers a broad set of solutions on a
⢠Reputational
Insignificant Minor Significant Major Critical
Web-based platform with capabilities to map its of-
fering to all governance, risk, compliance, and quality
Impact
processes within the company.
The reports offer risk metrics by a variety of parameters such as by process, business unit or status.
They also offer regular trending analyses which enable risk managers to stay updated on the progress
of risk management programs. Automated alerts, provided for exceptions and failures, eliminate
unpredictable events and stabilize risk management processes.
For more information, visit
www.metricstream.com
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