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 – the next evolution in enterprise digital risk management and security for businesses.
Led by business executives, risk officers and security executives, the Digital Risk Management (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.
I am pleased to report that the DRM Institute has made significant progress developing this industry-first DRM Framework – a consistent, unified approach to measuring and managing digital risk that has the potential to deliver cost efficiencies and greater risk assurance for business processes than the fragmented approach currently in place in most large organizations. It will also provide a generally accepted set of DRM knowledge and best practices enriched by concrete experiences of industry leaders, and facilitate benchmarking by digital risk officers against those practices.
The DRM Institute’s membership is growing and includes a group of highly qualified Charter Members who will review the current draft of the DRM Framework in an important meeting this week. With their input and approval, we will refine and then publish the Framework and a related benchmarking DRM Scorecard for the members this fall.
We hope you’ll consider joining us. Visit this DRM Institute page to become a General Member. Once you are a General Member you can join the General Member LinkedIn group and also apply for Charter Member status.
Watch this blog for additional updates.