Blog
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What are GDPR Fines and Penalties?
Organizations that fail to comply with the European Union’s General Data Protection Regulation (GDPR) standards for data protection, data security, and data processing can face steep fines. GDPR compliance means that every organization doing business with citizens of the European Union (EU) must adhere to strict rules to safeguard the personal data and privacy. The […]
Tags: Audit Management, GDPR
February 24, 2022
Tips for Managing Reputational Risk
Reputational risk is both an old and new phenomenon. If you ask senior executives whether they worry about their business’s reputation, they always say yes; that’s the old part. More and more, managing reputation risk is becoming a more complex endeavor; that’s the new part. Reputation risk management, however, is still often overlooked in the […]
February 22, 2022
What is Risk Avoidance?
In the modern business environment, managing risk is an organization’s top priority. Typically the risk management process includes a number of steps that should be repeated often and with each new project: risk identification, risk analysis, risk prioritization, and risk treatment. The most important step in the risk management process may well be risk treatment […]
How to Choose the GRC Tool with the Greatest Returns in 6 Steps
YOUR COMPREHENSIVE GRC TOOL EVALUATION GUIDE If you’ve ever invested in a GRC tool that proved too costly or challenging to implement, then you know how difficult finding the RIGHT solution can be. There’s nothing worse than making a big investment in software that never even gets used. Or works only intermittently. And requires expensive […]
How to Calculate Risk Appetite and Risk Tolerance
USING RISK METRICS TO SET THE FOUNDATION OF YOUR ERM STRATEGY Companies in every industry face risk on a daily basis. However, when a company reaches the enterprise level, it becomes unmanageable to tackle risk management manually via spreadsheets. It’s at this point that they will typically turn to enterprise risk management (ERM) tools to […]
February 18, 2022
Employee Spotlight: Kerwyn Velasco, Product Line Manager, Compliance
As a Product Line Manager for Reciprocity, Kerwyn Velasco is responsible for driving the strategy and execution of the next generation of our ZenGRC platform. From gathering information and ideas for new features and functionality, to demonstrating our latest innovations to customers, he is involved in all aspects of our product development. Kerwyn’s Journey Kerwyn […]
February 17, 2022
What to Do When Experiencing a Third-Party Vendor Breach
In today’s interconnected business landscape, companies of all sizes outsource many of their operations to third-party vendors. This also means giving those contractors access to some or all of your data, including Application Programming Interface (API) keys, sensitive customer information, and other confidential data. Third-party vendors, suppliers, and partners have become an indispensable part of […]
What Are the Benefits of Supply Chain Risk Management?
What Are the Benefits of Supply Chain Risk Management? Key Takeaway Supply chain risk management (SCRM) protects organizations by identifying vulnerabilities, improving customer satisfaction, and providing competitive advantages through proactive risk mitigation across the entire supply chain lifecycle. Table of Contents Key Terms Supply Chain Risk Management (SCRM): The process of identifying, assessing, and mitigating […]
What is Integrated Risk Management?
Integrated risk management (IRM) is an approach to managing information technology (IT) and operational risks that encompasses the entire organization and its external suppliers. Gartner defines IRM as “a set of practices and processes, supported by a risk-aware culture and enabling technologies, that improves decision-making and performance through an integrated view of how well an […]
Tags: Risk Management
Determining Your Risk Register Based on Industry
The world is a risky place. Some of those risks are beyond a company’s control, while others are very much within your control – but either way, risk and compliance managers need to keep track of them all. For example, say you are migrating your business to Salesforce, one of the largest, cloud-based customer relationship […]
February 15, 2022
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