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Volume 32, Issue 2

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Tuesday, 06 January 2009 14:29

An Evolving View of Collaborative Risk Management

Written by  JIM RYAN & DR. ROBERT S. COLOMBO

The past seven years have forced information technology professionals from industry and government to embrace the devastating and costly realities that result from both deliberate (e.g., man-made) and natural disasters. The catastrophic terrorist attacks of 9/11, as well as natural disasters like Hurricane Katrina and the most recent Iowa and Midwestern floods, have proven to global business leaders that the only given in the world today is that such disruptive events will undoubtedly continue to occur, with little or no warning and in magnitudes previously unimagined.Shortly after 2001, many new concepts were added to the risk management knowledge base on how to better protect, secure, and backup a company’s mission critical data, as well as protect and diversify its human capital asset pool. In 2003, the SEC, Federal Reserve, and Department of the Treasury collaborated on an Interagency Paper on “Sound Practices to Strengthen the Resilience of the U.S. Financial