We are using cookies, in order to improve the site usage.
You can change your cookie settings at any time. Learn more
bg-arrow-down icon-arrow-up icon-back-to-top icon-linkedin icon-menu icon-search icon-twitter logo-white slider-arrow-left-gray slider-arrow-left slider-arrow-right-gray slider-arrow-right

BankingBook and Global Risk Institute present cyber risk quantification research at PRMIA's 2019 Canadian Risk Forum, Montreal

Home

PRMIA Montreal hosted the 7th Annual Canadian Risk Forum. Senior risk professionals, industry experts, and scholars shared their thought leadership insight on Risk Management: Trending Practices Versus Practical Trends. PRMIA members from the entire PRMIA community joined at this Forum including PRMIA Vancouver, PRMIA Calgary, PRMIA Toronto, and PRMIA Edmonton.

We know that cyber threats continue to evolve and pose increasingly significant risks to organizations. A recent survey performed by Deloitte concludes that there is broad consensus that cybersecurity is the risk type increasing the most in importance. Sixty-seven percent of respondents named cybersecurity as one of the three risks that would increase the most in importance for their business over the next two years, far more than for any other risk. Yet, only about one-half of the respondents felt their institutions were extremely effective or very effective in managing this risk.

Sohail Farooq, CEO, BankingBook Analytics; Lois Tullo, CRO and CCO, Novera Capital/Global Risk Institute were joined by David Latour, VP, Risk Management, CDPQ to jointly present recently concluded research on cyber risk quantification.

This session aimed to present the newly developed Distribution Analysis for Information Risk (DAIR) framework. DAIR is a cyber quantification methodology that maps cyber events with a hierarchical risk taxonomy to evaluate operational, business and systemic risk economic capital.

To view the event detail, please visit PRMIA’s site.

To download the free copy of DAIR, please visit Global Risk I'nstitute's site.

Read more

For more information, contact BBA Marketing

+1 (905) 499-3618


Related Materials

Report

Alternative Rating Development Approaches: Shadow Bond Approach

Where good-bad analysis cannot be used due to lack of default data, the ‘shadow-bond method’ offers a less robust but statistically valid alternative. Here the ability of financial factors to predict default is modelled by measuring their ability to predict external rating agency default rates.

Report

Regulatory Approval of Internal Ratings Based Approach

More than ten years after the roll-out of Basel 2, many lending intuitions in Canada are still using the Standardized Approach (SA) for regulagtory reporting. As a consequence, reporting institutions are either setting aside disproportionately higher capital for their loan book, are engaged in regulatory arbitrage by issuing residential real estate loans or are involved in "originate-to-distribute" lending. All of these aofre-mentioned consequcnes contrinute to higher systemic risk.

Article

Distribution Analysis for Information Risk (DAIR): A Cyber Quantification Framework

We know that cyber threats continue to evolve and pose increasingly significant risks to organizations. We also know that the impact of cyber-attacks extends beyond direct financial consequences. Cyber incidents can lead to serious service disruptions, reputational damage and share price deterioration, along with potential for fines and litigation. We also know that the impact of cyber-attacks extends beyond direct financial consequences. Cyber incidents can lead to serious service disruptions, reputational damage and share price deterioration, along with potential for fines and litigation.