Cambio en las percepciones del apetito por el riesgo

Emily Wearmouth [00:00:01] Hello and welcome to today's episode of Security Visionaries, a podcast for anyone in the cyber data or adjacent industries. Today, we're going to be talking about risky business. And I don't mean Tom Cruise's mediocre rom com. I mean cyber risk. And more specifically, we're going to be discussing risk appetite, risk assessment and risk communication. Now, I know I always tell you I'm excited about my guests, but today those guests include the man who quite literally wrote the book about risk measurement and management, as well as a man who's been responsible for the risk programs at a couple of pretty huge international banks. Let me introduce them. First up, Jack Freund. Over the course of his 25 year career in technology and risk, Jack has become a leading voice in cyber risk, measurement and management. He's the coauthor of the award winning book on Risk Quantification, Measuring and Managing Information Risk A Fair Approach, and holds a doctorate in Information Systems. So welcome, Jack.

Jack Freund [00:00:58] Thank you Emily, happy to be here.

Emily Wearmouth [00:01:00] Alongside Jack. I'm also really pleased that we have David Fairman here to give us his sage perspective. David is an experienced CSO strategic advisor, investor, and coach. He has extensive experience in the global financial services sector, is known for his innovative thinking, and in 2015 he was named as one of the top ten CISOs to know. So I am very proud, therefore, to know him. Welcome, David.

David Fairman [00:01:23] Emily Thanks very much for having me on the program today.

Emily Wearmouth [00:01:26] Right. I'm going to dive straight in. The first thing I want to ask you both is why is it important to understand not just your organizational risk level, but also your organizational risk appetite or comfort level? Shall we start with you, David?

David Fairman [00:01:41] Yeah, sure. So risk management is an interesting thing. I like to define risk management as applying your finite resources to your highest areas of risk. What that means is you are never going to address and remediate or eliminate all risk. So I think the risk appetite play, or defining risk appetite and understanding what that looks like for your organization really helps you to make some of those definitive decisions. Like I say you're not going to be able to close all or eliminate all risk. You're going to need to make some priority decisions as to how you allocate those finite resources, Understanding what risks your organization is facing, then understanding what your appetite is to experience a loss due to those risk scenarios allows an organization to make more informed decisions, to take action to close out or minimize. And maybe that's the word we want to talk about. Minimize. It's not about necessarily eliminating completely.