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Mercury Risk and Compliance, Inc.

663 followers

Why has there been so much noise and hustle around Cyber Risk Management, Cyber Risk Quantification (#CRQ), Third Party Risk Management (#TPRM) and yet, so little progress and meaningful business return? (Yes, we know there is a small number of anomalies of success and you might be one!.. YOU know and WE know who you are! 😊 ) But the truth is that for the vast majority, building, scaling, and earning measurable business return on these programs is still unattainable. Similarly, with the billions of dollars spent on Cybersecurity, and Risk and Compliance Management programs, breaches and legal / regulatory failures are increasing exponentially. Why? The answer is quite simple. The foundations typically being used for Cyber Risk Quantification, Third Party Risk Quantification and Management, and Compliance Management are fundamentally flawed for these domains. And even worse, throwing automation and AI at a solution where the model and design itself is already flawed, will produce nothing but negative returns. If your Cyber / Technology Risk quantification, Compliance, and Third Party Risk Management models are based solely on loss avoidance, history, manual assessments, likelihood calculations based on regression models (e.g. Monte Carlo simulations), and are essentially based on imagined scenarios, then they will fail - not least of which because they are based on Loss Avoidance instead of Value Protection, Value Development and Return on Risk. If you are available in Baltimore, MD USA on June 17, 2024, join our co-founders, Gavin Anthony Grounds and Grace Beason for an in-person workshop on how to build an effective, value-based, business-centric Risk and Compliance Management program. This is a FREE workshop for anyone attending the GRC Summit 2024, hosted by MetricStream. Register now to secure your spot: https://lnkd.in/g7vx-QM5 If you plan to attend in person and also want some additional (free) time with Gavin and Grace to discuss your plans, ideas, questions, issues, or concerns, use this link to set up some on-site office hours: https://lnkd.in/gPjKw5xF If you can't attend the event, but want to learn more from Gavin and Grace, request a FREE 1:1 briefing here: https://lnkd.in/g2_G4qqg If you want to have a session with Gavin, Grace AND our CISO and Cybersecurity Strategist, Matthew Rosenquist, use this link to find a time: https://lnkd.in/g9bc2ANb Hope you can connect with our team soon! #ciso #riskmanagement #grc #metricstreamgrc

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