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If you do not consider risk, you are in a risky business – Chris Chilton CMIRM
By: Chris Chilton CMIRM Chartered Engineer Registered Chartered Project Professional If you do not consider risk, you are in a risky business. Risk is the stuff we don’t know enough about. Risk management is how we deal with the stuff we don’t know enough about. Uncertainty is the measure of just how short of enough…
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10th Annual Risk Leaders Conference
A decade of discovery and disruption Thursday 14 November 2019 | Inmarsat, London What are the real risk issues for boards today? Are they pre-occupied with fighting short term tactical battles while missing some big picture changes like digital disruption and climate change? Or are these sorts of risks just too big and impossible to…
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Privacy watchdog warning on facial recognition technology
The Information Commissioner Elizabeth Denham has warned that the use of live facial recognition (LFR) technology must comply with privacy laws. “Any organisation using software that can recognise a face amongst a crowd then scan large databases of people to check for a match in a matter of seconds, is processing personal data,” she wrote…
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Ofwat imposes stiff penalties on Southern Water
Southern Water has been fined £3 million in penalties and £123 million in payments to customers, following an investigation by the regulator Ofwat. It is the biggest penalty Ofwat has imposed. The watchdog found that the company had deliberately misreported its performance and discovered serious failures in the operation of its sewage treatment sites. “What…
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Cyber skills shortage adds to attack threat
Cyber security professionals say adversaries have an overwhelming upper hand in the war to protect organisations from online crime – and that skills shortage in the field is making matters worse. Those were two key findings of the third annual ESG/ISSA research report, The life and times of cybersecurity professionals 2018 published recently. Nearly three-quarters (74 per…
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Directors reach settlement in alleged cartel case
Anti-competitive practices have moved up the agenda after the Competition and Markets Authority (CMA) secured the disqualification of two former directors of the construction company CPM Group Ltd in April following the business’ admission that it breached competition law. The move follows the CMA’s statement of objections issued on 13 December 2018, alleging that 3 suppliers of pre-cast…
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Embedding risk management – the formal and informal
Embedding risk management is often seen as the holy grail of an effective organisation. Research by ACCA now shows that although organisations have similar risk management objectives, the paths they take to embedding risk management varies. Those paths depend on the external environment in which they operate and a range of internal factors, such as…
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Institute of Operational Risk to join IRM
The Institute of Risk Management is delighted to announce that the Institute of Operational Risk will be joining the IRM group. This comes following a vote at the IOR Annual General Meeting held on Wednesday, 22nd May in London. IRM’s prime objective is to provide education and training for the global risk management community, and…
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Zoning the Internet
The Russian government approved a bill in April that would give the state communications regulator Roskomnadzor the ability to control traffic on the Internet – giving it the potential to effectively isolating the Russian network. The bill has been approved by the Russian president Vladimir Putin. From 1 November, internet service providers and other communications…
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Government’s Brexit freight risk miscalculation cost £33 million
The government agreed to pay out £33 million to Eurotunnel after miscalculating the risks associated with procuring addition ferry freight services in the run up to Brexit, according to a report by the accounting watchdog NAO. In autumn 2018, the government realised that the potential disruption to perishable goods, medicines and manufacturing components flowing across…
