On April 19,2017, The Risk Institute at The Ohio State University, Fisher College of Business held an engaging conversation, as part of its Executive Education series, on the topic, “identify, Plan Protect: Using Cyber to your Advantage”.
As we see on an almost daily basis, Cyber Risk and Crime has become a part of our lives. During the first few weeks of 2017, we witnessed a large restaurant chain’s register payment systems impacted and a large business services firm’s marketing database with over 33 million corporate contacts shared across the web. Without much difficulty multiple other examples are found that cross any number of industries.
We were fortunate to have had Ohio Attorney General Mike DeWine introduce the topic to our audience of executives. AG DeWine is passionate about Cyber Crime and Cyber Risk and its impact upon the citizens of Ohio.
The session focused on raising the conversation of the obvious current situation with regard to Cyber Risk and Crime, but also considered risk mitigants that businesses can take. The speed at which crisis communication and Public Relations plans are treated and managed are certainly at the forefront of dealing with Cyber challenges within business. So much so, that the phrase “Fiasco Vortex” has been coined (see Glass Jaw by Eric Dezenhall). In the 21st Century, communication never sleeps. We live in a 24/7 news cycle that demands a much different treatment to Cyber Risk and Cyber business continuity planning.
An organizations business continuity plans will need to be tested to respond to geographic specific exposure that could have wider impact upon the business and it customers. Our speakers highlighted, from their diverse experiences and backgrounds, how companies can take a proactive approach to Cyber Risk and Crime.
Session leaders, Helen Patton, CISO, The Ohio State University; Jim Trainor, SVP, Aon Cyber Solutions and former FBI head of the FBI Cyber Division, Washington, DC; David White, CIO, Battelle Memorial Institute; David Lyon, Senior Manager, The Crumpton Group, LLC, collaborated to provide insight into:
- Cyber a View from the CISO Trench
- Cyber Threat Landscape 2017 and Beyond
- Cyber Security’s Impact on IT Operations
- The Role of Intelligence in Cyber Attacks: Offense vs. Defense
The session emphasized how to proactively use risk management to balance the risks related to Cyber Risk in order to meet business goals and enhance business performance.
The session did an excellent job of creating thought provoking ideas and advancing The Risk Institute’s unique role in uniting industry thought leaders, academics and highly respected practitioners. This is an ongoing dialog to advance the understanding and evolution of risk management in our world today. The Risk Institute’s conversation about risk management is open and collaborative with its relevance across all industries and its potential for competitiveness and growth.