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ECT News Community   »   E-Commerce Times Talkback   »   Re: The Operational Risk Management Rules of the Road

Re: The Operational Risk Management Rules of the Road
Posted by: Kristin Gallina Lovejoy 2006-09-06 09:52:06
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New methods of securing networks, systems and data are going to be best sought within the context of operational risk management, which is less about compliance than performance. It's human nature: People want to know what their obligations are. Give me the rules, and I will meet them. This is referred to as the "compliance culture." There is another way to fulfill the business mission, though. Your first concern is the good of the business -- so for the sake of the business, you try to improve your activities in every way.

Re: The Operational Risk Management Rules of the Road
Posted by: mroonie 2006-09-06 10:21:09 In reply to: Kristin Gallina Lovejoy
This article is right on the money.
The idea of ORM isn't new but time and time again we see examples of companies making the same mistakes over and over.
You'd think that after the VA laptop , AOL, Visa incidents, people would start to get the idea that although there are risks involved with business, there are plenty of measures that can be taken to avoid certain ones. For example, if AOL had chosen to encrypt the data they wanted to provide researchers, and only giving them access to decrypt the data, we wouldn't have fun into this problem.
Although not all business choose to be compliant, there are a good many reasons why it's good for businesses to consider it. It provides the right framework for a less-faulty foundation upon which to build upon, decreasing ORM. There are software available that help with compliance and businesses should definitely look into such solutions.
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