C-Suite and Board Members Collaborate to Manage Their Organization’s Digital Risk to Prevent Costly Cyber Attacks
Washington, DC – December 3, 2015 — The Digital Risk Management Institute (DRM Institute), a not-for-profit organization formed to identify and communicate prescriptive approaches to create digitally resilient organizations, will hold an online conference on December 15 at 1:00 pm ET to launch the industry’s first Digital Risk Management framework (DRMf).
The new DRMf is for C-suite and Board-level executives who seek to understand digital risks to their business in quantifiable terms in order to proactively manage them effectively. The DRMf will be presented to DRM Institute General Members in the online conference that is free to all DRM Institute members, and membership to the Institute is also free to qualified applicants. Those interested can join the DRM Institute before the conference.
As the ability of large organizations to effectively prevent digital attacks and minimize impact on its business continues to decline, building a business case for elevating IT security continues to shift towards Digital Risk Management (DRM) – the next evolution in enterprise risk and security for businesses.
Led by business executives, risk officers and security executives, DRM Institute’s mission has been to define and publish a prescriptive decision-making framework that creates and sustains business value by balancing the need to protect the organization with the need to run the business.
A key output of the effort is the DRMf and a corresponding Digital Risk Management Maturity Model (DRM3), which is foundational for managing risk across various functions by relying on the quantification of the business impact of digital risk. This effort enables business leaders to understand the risk profile of their operations and for the organization as a whole to prioritize risk mitigation decisions based on the level of operational and financial risk.
“December 15th, 2015 marks the beginning of a new era when board-level and c-suite executives for the first time will know how to mitigate costly digital risks,” said Juanita Koilpillai, President of the DRM Institute. “The new DRM Framework will provide them with a prescriptive approach to manage digital risk across the enterprise. Joining the DRM Institute is free for qualified executives and the online event is free, so we have optimized it for senior peer participation.”
The Digital Risk Management (DRM) Institute is a nonprofit organization led by business executives, risk officers and security executives to analyze digital risk scenarios, create standard DRM knowledge, facilitate industry-specific benchmarking, and promote best practices for managing digital business risk. DRM Institute’s mission is to serve members and their profession by defining a decision-making framework that creates and sustains business value by balancing the need to protect the organization with the need to run the business. DRM Institute is also creating a body of knowledge for Digital Risk Officers, who will emerge as being the driver for day-to-day operations that enable enterprise-wide resiliency from cyber attacks. Learn more at www.drminstitute.org.