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On April 7, the LogicGate team touched down in sunny Austin, Texas, for the annual Risk Management Conference hosted by the American Bankers Association (ABA).
While attendees spanned the size spectrum from community banks to major international financial institutions, the conference itself proved itself a refreshingly intimate affair. As the small crowds streamed in and out of the main ballroom—otherwise known as “the Marketplace”—conference-goers had ample opportunities to hobnob with distinguished guests, vendors, and speakers alike.
Enterprise Risk Management was the topic on everyone’s lips throughout the three days of the conference. The weekend’s events offered wide-ranging perspectives on the myriad risks that banks face at all sizes, including panels and breakout sessions devoted the diverse array of risks that roll up to ERM.
A quick look at the speaking schedule shows just how deep the sessions went on their respective topics:
- Measuring, Monitoring and Controlling for Cyber Risk
- Physical Security: Mitigating the Risks of the Innovative Branch
- Using Customer Complaints as a Means to Identify Emerging Risks
It was a lot to take in.
Of particular interest to the LogicGate team were a pair of talks that addressed third party risk as well as risk quantification and communicating it to the board.
- Quantification of Emerging Risks for Board, Senior Management and Examiners
- Not One and Done: Making the Case for Continuous Cyber Monitoring for Third-Party Cyber Risk
In the latter session, which took place on Tuesday morning, Ncontracts CEO Michael Berman explored topics that are of profound importance to helping banks prepare for a breach due to third party and cyber risk. Among other tactics, Mr. Berman touted the benefits of continuous cyber monitoring as a defense mechanism against such unwanted activity.
Berman also offered a point of view that’s highly aligned with our own—that the best way to prepare for a breach is to plan for it to happen. It’s nice to see this sentiment taking root throughout risk management circles, and we applaud his practical advice.
All in all, the 2019 Risk Management Conference was a highly engaging and enjoyable event for the LogicGate team. From “Power Hour” breakfasts to our sponsored happy hour on Monday night, we enjoyed building relationships with our compatriots in this tight-knit industry. We look forward to attending next year.