Plumbing-Heating-Cooling Contractors -National Association’s Post

Are you relying on prime contractors to manage your subcontractors? Our recent Avetta blog post explains why this approach might leave your business vulnerable. We outline how to take control of subcontractor risk management, including tips for direct oversight and maintaining compliance across all tiers. Read on to discover how to strengthen your extended supply chain and minimize potential threats to your operations. #contractormanagement #riskmanagement

It's not often you get to talk about your passion around risk management, how you've leveraged it for good, and share lessons learned over a career that could make a difference in someone's life. The opportunity presented itself and I hope there are key takeaways that you can use in your journey.

Our latest Avetta blog post tackles a critical issue in supply chain management: subcontractor risk. We explore how companies can shift from passive to proactive oversight, offering practical steps to enhance communication and establish clear expectations. Whether you're looking to develop unified strategies or improve direct visibility of your extended network, this article provides valuable guidance to help safeguard your operations. #contractormanagement #riskmanagement

In recent years, there has been a significant uptick in the frequency and sophistication of attacks on the financial and banking industry. Ransomware attacks on financial services have increased from 55% in 2022 to 64% in 2023, which is nearly double the 34% reported in 2021. Only 1 in 10 attacks were stopped before encryption took place, making a total of 81% of organizations a victim of data encryption. https://lnkd.in/eAH6RGJT #cyberinsurance #munichre #suttonslaw

Great article showing how risk management is more than dollars and cents, it's about the individuals impacted when something goes wrong. Thanks for sharing Mark!

Cyber remains a top concern for risk managers, who are constantly refining their risk management strategies to enhance protection. And the move towards a more sustainable future and net zero is a key focus - as much because of the opportunities such a change brings as the risks. That is the view of Richard Hoult, head of risk & internal audit at Portakabin, speaking to Intelligent Insurer of Airmic (Association for Insurance & Risk)’s annual conference in Edinburgh. Read the full story here: https://ow.ly/oebI50S6AZg

Ferma has called on the EC to create a permanent risk management function or appoint an executive risk officer in its latest policy manifesto, which urges EU leaders to tackle a lack of insurance solutions for the net-zero transition, mounting regulatory complexity and cyber security challenges, and ensure it is better placed to face future crises. More here 👉https://ow.ly/H9Sz50Sr3XT #RiskManagement FERMA | Federation of European Risk Management Association #ClimateTargets

“I think every business should do some level of a risk assessment to really understand what risks are facing their organizations…” Freed Maxick Director, David Hansen, CPA, CISA, QSA, CISSP, discusses what the biggest risk management issues are today and how to plan for them in Rochester Business Journal’s recent article on risk assessment. To read the full article, including perspectives from other professionals of different fields, view here: https://lnkd.in/gYR9BtUD #FreedMaxick #RiskAdvisory #RochesterNY #RBJ

Subcontractors play a vital role in modern supply chains but also introduce significant risks. Our new Avetta blog examines best practices for managing these risks effectively. From C-suite strategies to field-level compliance, we cover the key aspects of a strong subcontractor risk management program. Check it out to learn how to protect your business from potential disruptions and ensure consistent safety standards. #contractormanagement #riskmanagement

Effective risk management extends beyond mere policies and procedures. It lies in our capacity to connect the abstract with the personal, turning statistical data into compelling narratives that motivate action. Mark McGhiey, CSP, CFPS Nationwide https://lnkd.in/eGWWB8qE