Articles Tagged with ''risk management''

LexisNexis Risk Solutions unveiled findings on the current State of Fraud, detailing key fraud trends occurring in 2020 for organizations in the United States and Canada while also looking ahead at what to expect in 2021. The COVID-19 pandemic caused 2020 to be a year of unique circumstances and disruption to the global economy. One thing that has stayed the same is fraudsters' willpower to gain access to money and confidential information. 

While COVID-19 has slowed the hospitality industry, security plays a more pivotal role than ever and the ongoing pandemic is challenging security professionals to adjust and adapt to new rules and procedures. And yet, as the pandemic and challenging economy continues, security departments within the hospitality industry are increasingly tasked to do more with less.

According to the Identity Defined Security Alliance (IDSA) study, for the majority of companies (72%) it takes one week or longer for a typical worker to obtain access to required systems. Conversely, it takes half of organizations three days or longer to revoke system access after a worker leaves, creating regulatory compliance issues and the risk of data theft. To make matters worse, for the majority of organizations (83%), remote work and other Covid-19 related factors have made managing access to corporate systems more difficult.

While many organizations understand the need for a security executive, organizations that have taken a holistic approach, have added the chief risk officer (CRO) position to evaluate all organizational risk. So, what is a chief risk officer, who makes a good candidate, where does the CRO stand organizationally within an enterprise, and what value does one add? Here are all your CRO questions answered.