Operational Risk Management (ORM) has been at the top of the news in the past few weeks. Digital media and the metadata of "Big Data" is the topic of choice. It is a revealing look behind the curtain of what is possible these days, with the tools and capabilities that exist for exploitation and analysis. Is too much privacy an operational risk to your personal and professional well being? What "Trust Decisions" did you make to arrive on this page in the universe of the Internet?
In the spirit of full disclosure, if you are reading this now, we tracked how you found this blog and perhaps what search terms you used to be referred here. Some of you, revealed their company identity. So why do we do this? The main reason is that we want to make sure that we understand what is on your mind these days, when it comes to the global Operational Risk Management (ORM) universe. Here are a few examples in the past day or so that caught our eye:
Collection of data is one thing. Relevance and sense-making is another. Can you imagine some of the search terms that are tracked just by Google or Bing?
What about the companies that know us the best? Those marketing and personal data sites that keep track of where you live, how much you spend on your credit cards and where, or even the name of your pets. How often do you give them your phone number or e-mail address at the point-of-sale (POS) to get a discount at the local retailer, gas station or pharmacy? Believe us when we say that there are hundreds of organizations that know more about you in the private sector than some government across the world.
The trail of "digital finger prints" you leave behind everyday are vast. A snap shot of your face at the local ATM or a snap shot of your desktop when you login to the online banking web site. In either case, these examples are just a few of the ways that your habits, locations, preferences and lifestyle are profiled each and every day. Where did all of this begin? Fraud Management. Not Homeland Security.
As a citizen traveling across the country or a consumer, you willingly give up these digital bread crumbs of your journey through life. Your goal now, is to make sure that you are not mistaken for someone else. After all, you or your organization have developed a profile and a reputation that is being recorded and therefore, it could be a prudent strategy to make sure that you are not mixed up with another person or organization with the same name or brand identity.
How can you do this? Operational Risk Management (ORM) is about monitoring yourself and your organization to make sure you understand your competition (good or bad) for the same personal or business identity space. Do you have Biometric and DNA samples of all of your key executives? If you don't, then the question is why not? You may have considered this in light of some of the places that your executives are traveling. Cities and countries across the globe with the risk of kidnapping, improvised explosive devices (IED) and other risks to their lives.
As we look into the crystal ball of our digital futures, we see the scenes from movies past that have already captured our own human imagination. A world where everyone is known and you may even choose to "opt-in" to be tracked. After all, you are unique. You make your own choices in life. The risks that you face may very well be greater, for those who choose a life to remain private, anonymous and even unknown.
operational risk
In the spirit of full disclosure, if you are reading this now, we tracked how you found this blog and perhaps what search terms you used to be referred here. Some of you, revealed their company identity. So why do we do this? The main reason is that we want to make sure that we understand what is on your mind these days, when it comes to the global Operational Risk Management (ORM) universe. Here are a few examples in the past day or so that caught our eye:
- management of operational risk - Latvia
- operational risk management - Nigeria, Illinois, South Dakota, The Vanguard Group
- common board of directors mistakes - Turkey
- lessons learning from fail in operational risk - Malaysia
- predictive intelligence - North America
- rogue trader operational risk - United Kingdom
- fund industry operation management discussion topic - Luxembourg
- operational risk management game - Unknown
- reputation risk management process - Unknown
- operational risks in bank call center - Qatar
- coso definition of operational risk - Unknown
- black swan incident that occurs once in a lifetime - Unknown
- ubs operational risk case analysis - Unknown
- business resiliency definition - JP Morgan Chase
- "operational risk" outliers - France
- a risk effect on a daily operation - DeVry
- examples of smart objectives risk - United Kingdom
- black swan incident\ - South Carolina
- black swan incident - Computer Sciences Corporation
- what is a black swan incident - South Carolina
- duty of care board of directors - United Kingdom
What about the companies that know us the best? Those marketing and personal data sites that keep track of where you live, how much you spend on your credit cards and where, or even the name of your pets. How often do you give them your phone number or e-mail address at the point-of-sale (POS) to get a discount at the local retailer, gas station or pharmacy? Believe us when we say that there are hundreds of organizations that know more about you in the private sector than some government across the world.
The trail of "digital finger prints" you leave behind everyday are vast. A snap shot of your face at the local ATM or a snap shot of your desktop when you login to the online banking web site. In either case, these examples are just a few of the ways that your habits, locations, preferences and lifestyle are profiled each and every day. Where did all of this begin? Fraud Management. Not Homeland Security.
As a citizen traveling across the country or a consumer, you willingly give up these digital bread crumbs of your journey through life. Your goal now, is to make sure that you are not mistaken for someone else. After all, you or your organization have developed a profile and a reputation that is being recorded and therefore, it could be a prudent strategy to make sure that you are not mixed up with another person or organization with the same name or brand identity.
How can you do this? Operational Risk Management (ORM) is about monitoring yourself and your organization to make sure you understand your competition (good or bad) for the same personal or business identity space. Do you have Biometric and DNA samples of all of your key executives? If you don't, then the question is why not? You may have considered this in light of some of the places that your executives are traveling. Cities and countries across the globe with the risk of kidnapping, improvised explosive devices (IED) and other risks to their lives.
As we look into the crystal ball of our digital futures, we see the scenes from movies past that have already captured our own human imagination. A world where everyone is known and you may even choose to "opt-in" to be tracked. After all, you are unique. You make your own choices in life. The risks that you face may very well be greater, for those who choose a life to remain private, anonymous and even unknown.
operational risk
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