Ultimate Guide to Compliance & Risk Management for Utilities Companies April 8, 2024 Compliance | Regulatory Compliance | Risk Assessment | RiskWatch Blog | Utilities   Introduction In the ever-evolving landscape of the utilities sector, Compliance & Risk Management has become a critical component of operations. As regulatory requirements continue to tighten, utilities companies must navigate a complex web of rules and regulations to ensure they remain compliant and avoid costly penalties.   In the utilities sector, protecting the widespread infrastructure is paramount ..read more

What Type of Businesses Need to Comply with PCI DSS? March 21, 2024 Compliance | Design | Managing the Risk Assessment | Regulatory Compliance | Risk Assessment | RiskWatch Blog   The Payment Card Industry Data Security Standard (PCI DSS) is a set of security controls designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. Essentially, all companies performing some kind of credit card payment processing or accepting payment card transactions must be mindful of PCI DSS. Who Needs to Comply? While merchants ..read more

Oil and Gas Risk Management February 21, 2024 Oil & Gas | Risk Assessment & Compliance | RiskWatch Blog Oil and Gas Industry The oil and gas industry is a volatile one, inundated by a number of risks and regulations which range from worker safety to environmental concern. It is designated as a capital-intensive industry due to the overwhelming amount of capital it needs compared to labor in order to produce results. However, in such a high-cost and profitable industry, all risks carry elevated costs and pricy fines. We’ll look at industry risks, industry fines, and management. Areas ..read more

Risk Management Process: Security Analysis Methodology in SecureWatch February 19, 2024 Managing the Risk Assessment | Risk Assessment | Risk Assessment & Compliance | Threat Assessment What is ISO 31000? ISO 31000 is a security analysis methodology, or risk management process, that is used in various risk programs across a range of different industries. It helps standardize the steps you take to evaluate and manage risk, leaving you with a formal and standardized workflow. Why do we use it? In our 25 years of experience, we’ve learned that methodology needs to be flexible enough to h ..read more

What is a Gap Analysis? February 18, 2024 Gap Analysis | RiskWatch Blog Gap Analysis A gap analysis is a necessary component of risk management that is, at times, unclear to those in risk, security, and compliance positions. This leaves the question of, “What is a gap analysis?” Simply put, a gap analysis is a process of examining or assessing your current business practices and determining what changes you need to make to improve shortcomings or become compliant. The term “gap” refers to the distance between where your organization is currently, and where you need to be. Your analysis cons ..read more

The Importance of Risk Monitoring February 13, 2024 Design | Managing the Risk Assessment | Risk Assessment | RiskWatch Blog Risk Monitoring Overview Risk monitoring is a crucial step in the total risk management process. Unfortunately, there is never a true end to the risk management process; risk monitoring will always be necessary to understand the risks an organization is facing and how any implemented changes are affecting those risks. This process will offer vital data to teams performing other risk management activities in the cycle and towards high-level executives that want to trac ..read more

The CAN-SPAM Act February 13, 2024 Compliance | Regulatory Compliance | RiskWatch Blog What Is the CAN-SPAM Act? The CAN-SPAM Act essentially dictates what can and cannot be done in regards to commercial messaging, including what can happen if you’re noncompliant. Formally referred to as The Controlling the Assault of Non-Solicited Pornography And Marketing Act, the act was passed in 2003 in direct response to the increasing number of spam emails that were being sent out. Although spam is commonly related to bulk emails, the act uses the traditional sense of the word, meaning unsolicited ..read more

Risk Management in Banking February 9, 2024 Financial Services | Risk Management | RiskWatch Blog Risk management in banking has largely been focused on compliance with regulations and standards in recent times. This practice primarily stems from the regulations and culture that emerged during the global financial crisis that took place around 2007. The aftermath of this crisis revealed that banks took on excessive risk, along with framework shortcomings and inadequate capital.  These structural changes in the industry aimed to increase stability and transparency in the banking indust ..read more

Top Three Industries that Need an Effective Risk Management Solution February 9, 2024 Compliance | Cyber Security | Cyber Threats | Disaster Recovery Planning | Emergency Preparedness | HIPAA Risk Analysis | Hospital Security | Managing the Risk Assessment | OSHA | Regulatory Compliance | Risk Assessment | Risk Assessment & Compliance | Threat Assessment | Workplace Violence Prevention We live in a society where risk is ever present and impossible to avoid, no matter what industry you are in. It is no secret that some industries tend to face higher risk than others, therefor they must t ..read more

How to Use Automated Assessment Software to Manage and Meet Your Security and Compliance Requirements Security and compliance are two essential aspects of any organization, especially in today’s complex and dynamic environment. However, managing and meeting these requirements can be challenging, time-consuming, and costly, especially if done manually or with outdated tools. That’s why many organizations are turning to automated assessment software, which can simplify and streamline the process of conducting risk and compliance assessments, and provide valuable insights and recommendations ..read more