Cybersecurity & Cyber-Finance Risk Management: Strategies, Tactics, Operations, &, Intelligence: Enterprise Risk Management to Model Risk Management: Understanding Vulnerabilities, Threats, & Risk Mitigation (Presentation Slides)

243 Pages Posted: 8 Dec 2015

See all articles by Yogesh Malhotra

Yogesh Malhotra

Global Risk Management Network, LLC

Date Written: September 15, 2015

Abstract

The invited plenary keynote presentation addressed to a national group of senior Fortune 100 practice leaders including Chief Security Officers focuses on emerging trends in Enterprise Risk Management (ERM). The keynote builds upon author’s recent Financial Risk Management practice leadership for Wall Street investment banks and recent Cyber Risk Management research conducted with oversight of a committee of distinguished scientists affiliated with Air Force Research Lab, NYS Cyber Research Institute, and State University of New York. The keynote elucidates the Cyber-Finance-Trust TM Framework developed to facilitate applied intuition about how ongoing digitization, virtualization, and transformation of inter- and intra-enterprise networks are contributing to the convergence of Financial Risk Management and Cyber Risk Management. It helps senior executives better understand the emergence of Cyber-Finance Risk Management that is anticipated to subsume most traditional risks generally treated in isolation such as various Financial Risks and Operational Risks. Based on a comprehensive review of most recent Cyber Security and Risk Management trends in two key sectors – Banking & Finance, and, Healthcare – it facilitates understanding about latest vulnerabilities, threats, and risk assessment and risk mitigation strategies. Advancing beyond computational quantitative analytical risk assessment models found deficient during the global financial crisis, it helps better understand the key role of the ‘human factor’ while relating it to coherent People, Process, and Technology frameworks underlying ERM. To facilitate more precise and accurate Risk Assessment and Risk Modeling for Cyber-Finance Risk Management, the concluding section provides an overview of author’s related research that developed robust foundations for Cyber Risk Insurance (CRI) Modeling. Advancing upon research and practice in CRI Modeling, to help prepare the senior executives responsible for Risk Management and Cybersecurity, the presentation delineates the computational quantitative analytical risk assessment models suitable for catastrophic risks assessment which are increasingly material to ongoing viability and sustenance of any enterprise.

Keywords: Cyber Finance, Cyber Finance Risk Management, Cyber-Finance-Trust Framework (tm), Cyber Economics, Cyber Risk, Quantitative Models, Quantitative Analytics, Cyber Risk Modeling, Cyber Risk Loss Valuation, Quantifying Cyber Risk, Geoeconomics, Cybersecurity, Vulnerabilities, Threats, Risk Mitigation

Suggested Citation

Malhotra, Yogesh, Cybersecurity & Cyber-Finance Risk Management: Strategies, Tactics, Operations, &, Intelligence: Enterprise Risk Management to Model Risk Management: Understanding Vulnerabilities, Threats, & Risk Mitigation (Presentation Slides) (September 15, 2015). Available at SSRN: https://ssrn.com/abstract=2693886 or http://dx.doi.org/10.2139/ssrn.2693886

Yogesh Malhotra (Contact Author)

Global Risk Management Network, LLC ( email )

Cornell Business and Technology Park
Ithaca, NY 14852-4892
United States

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