Day: April 26, 2021

Categories
Coffee and Regs

Managing Cyber Insurance Risk

Managing Cyber Insurance Risk
 

In this episode, CSS’s Director of Cyber IT Services E.J Yerzak sits down with AVP, Program Executive at Varney Agency and cyber insurance expert Nick Weiner to discuss the recent NYDFS guidance for insurers that underwrite cyber insurance policies. The guidance includes a Cyber Insurance Risk Framework that provides best practices for managing cyber insurance risk amid concerns of systemic and “silent” risks to the financial sector.

 

 

About Our Guest Speakers:

 

E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.

 
 

Nick Weiner is a commercial insurance agent, with ten years of experience focused on cyber, professional & management liability insurance for financial institutions. Nick firmly believes every professional organization deserves access to a specialist who can design, administer and implement a custom insurance solution. Working with an independent insurance agency gives Nick the opportunity to use his experience, knowledge, and understanding of the marketplace to assist his clients in finding the insurance solutions that meets their needs. At twenty-two, Nick started his own national insurance agency focused solely with the goal of servicing entrepreneurs in the financial services industry. Seven years later, Nick’s business was purchased, and he joined forces with Varney Agency (Portland, ME) to assist in the continued growth of their financial institution’s division. Nick often participates in thought leader groups for the industry and works closely with some advisory focused publications to provide input on insurance related topics.

 
 

Categories
FCPA Compliance Report

Max Keating, Controls and ESG in eSports

In this Episode of the FCPA Compliance Report, I am joined by Max Keating, CEO and co-founder of Kleos, a scheduling and payment platform for the eSports industry. We take a deep dive into eSports, the Kleos platform and how the industry is evolving from an internal controls, compliance and ESG perspective. If you do not know anything about eSports and you are in compliance, this is a podcast for you.   Highlights of this podcast include:

  1. The breadth and scope of the eSports industry?
  2. What market gap or need did you see in the eSports industry?
  3. What is the interest in fan interaction with players and celebs?
  4. What idea(s) led to the creation of Kleos?
  5. What makes Kleos different?
  6. A portion of the proceeds from each match played on Kleos go to charity. Why is this so important to you and the company?
Categories
ComTech

Technology, Learning and Communications with Natalia Shehadeh


 
Natalia Shehadeh is a well-known compliance expert who worked in the energy sector for over a decade. She is now the Chief Integrity Officer at ABB, a multinational corporation in the robotics and process automation space. Natalia believes that using data and technology in compliance is no longer an option: “It is absolutely mission-critical to the proper functioning and success of our function and our mission,” she tells Tom Fox and Valerie Charles. In this week’s show, Natalia chats with Tom and Valerie about the importance of leading with data, including how to use data to measure cultural buy-in. 
 

 
Building Culture with Data
“We are trying to look at opportunistically, how to leverage data for purposes of giving us real-time insights on the health of our integrity culture in the company; how to do so effectively and efficiently, and with a real keen eye towards innovation,” Natalia remarks. Her cross-functional team – which includes data professionals and business analytics experts – is a major reason they have been so successful in moving towards that goal, she says. Their focus is not only on monitoring from a risk perspective, but also measuring how effective their communications for learning purposes are. Valerie asks her about the data sets they use. She explains that they monitor internal social media posts as well as their learning assets to measure sentiment. “A lot of data we’re looking at and trying to get a feel for, Are we communicating effectively in the eyes of our employees? And how do we think that’s moving the culture needle?” she tells Valerie.
Getting Cultural Buy-In
“Data analytics or tech solutions on their own aren’t particularly useful without the cultural buy-in of the organization,” Valerie comments. She asks Natalia how she gets buy-in at ABB. Natalia responds that ABB is a data-focused organization, so they understand the importance of using data. However, she advises, it takes “care and feeding culturally” to get to the point where you have quality data sets that can provide rich insights.  
Facilitating Learning Through Data
ABB is focused on “communicating learning in an effective way”, Natalia tells Tom and Valerie. To this end, they revamped their approach to employee training, focusing instead on a data-driven stratified approach. Traditional compliance and integrity training is no longer mandatory; instead, employees interact with learning assets as and when they need, similar to how they use Youtube to find a quick solution to a problem. “We really believe in inculcating an adult self-learning objective,” Natalia says. “…The concept is [to] create a simple learning approach where people will want to come back for more because it’s easy, it answered the question that they had, and hopefully we can make it a little bit fun.” 
Resources
Natalia Shehadeh on LinkedIn 
ABB