ESRM 450 Wildlife Ecology and Conservation FOREST STRUCTURE AND DEVELOPMENT
How ESRM is Making a Difference - Map Your Show
Transcript of How ESRM is Making a Difference - Map Your Show
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How ESRM is Making a DifferenceTom Berkery, Dan Funk, Jeff Sieben
Session # 5311
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Panelists
Daniel Funk, CPCI, ARMManager
Discover Financial Services
Thomas Berkery, CSPOLead Security Investigations
and ReportingDiscover Financial Services
Jeff Sieben, CPP, CISSP, PMPIT Security Council Chair
Product ManagerResolver Inc.
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What is ESRM?
• Guideline (draft)• Aligns Security to strategy
• All Security Disciplines included
• Context of ESRM – Mission/Vision, Values, Stakeholder, Environment
• Link to ESRM Guideline: https://www.asisonline.org/publications--resources/standards--guidelines/esrm-guideline/executive-summary/
• Initiation to Organizational ESRM
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Stakeholders
• Understanding key players
• Wolf pack vs lone wolf (silos)
• Asset owners/decision makers (Extreme Ownership)
• Others
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Techniques Available for Managing Risks
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How ESRM is Making a Difference
• Sell your program with data• Everyone is trying to purchase insurance
• Try an differentiate yourself from your competitors for a better rate and premium
• Try to make the underwriter comfortable with underwriting the risk
• Keep trust high
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Incident Response Procedure• Procedures\process of thorough
and accurate reporting
• Incident reports are being reviewed for accuracy and thoroughness
• Urgency in escalation and notification to senior management and teams responsible for action
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Increased Cost of Untimely (Lag) Reporting
• 0-3 day reporting by employer to carrier is the industry standard
• Employers report approximately 70% of their claims within 0-3 days
• Best practices is 80% of all claims should be reported in 0-3 days
• Example - Loss that should have cost $100K that is reported week 2 (7-14 days) after the incident will likely cost an additional 20% or $20K
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Risk Management Culture
• All employees (the business)• Training, education, loss prevention
• How to plan, drill
• Helping employees know how to respond
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Risk Management – Cyber Example
• Identify the risks
• Size the risks
• Quantify the exposure
• Avoid/Mitigate (cyber team)
• Transfer • Buy Insurance
• Accept
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Risk Management – Third Party Technology
• Contingent business interruption
• Using cloud-based vendors
• Large data volumes• Transactions
• System Logs
• Image/Video/Voice processing
• AI/ML
• Autonomous vehicles/drones/robots
• 5G
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Q&A