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Event: Cyber and Operational Risk Management
Sponsors:
Date/Time: 30/04/2019 - 01/05/2019 - All Day
Location:
Details:

Riskope will present Fostering Sustainability and Value Through Convergent Risk Assessments at infonex’s Cyber and Operational Risk Management in Vancouver B.C.

Cyber and Operational Risk Management

Riskope’s presentation will discuss holistic and convergent approaches. Indeed, Risks generated by cyber, natural and man-made hazards, cannot be tackled by siloed approaches do not work
• Cyber risks are not only an IT issue, thus convergent approaches are needed
• Cyber attacks can generate physical arm because of direct or indirect hits
• Systemic analyses are paramount to foster better decision-making and finally
• Sustainability and value increase with the use of convergent risk assessments

Cyber and Operational Risk Management

Cybersecurity ranks as the #1 priority for financial institutions today. That is mainly because cyberthreats affect all functions within the organization and there is an increasing number of actors.

Also, Operational and compliance risks have become complex and entwined. Indeed the potential for failed processes that govern control breakdowns had grown tremendously.

Thus a holistic governance approach bringing the entire risk portfolio of an organization together, is nowadays OpRisk leaders preferred way.

It is therefore paramount to mitigate risks with an eye to the big picture.

Meanwhile many risk leaders feel overwhelmed by the scale and breadth of potential threats.

Infonex’s Operational Risk event, now in its 14th year. The conference will provide strategies for mitigating risk in the current regulatory environment.

Riskope’s presentation Fostering Sustainability and Value Through Convergent Risk Assessments covers indeed many angles within the conference’s scope.

Go Beyond a One-Size-Fits-All Approach!

  • Exceed regulatory expectations for management of cyber and operational risk
  • Set the right expectations for cyber and operational risk resilience
  • Identify controls of digital transformation
  • Explore root causes of operational risk events
  • Introduce business process mapping to your toolkit
  • Develop a risk culture framework
  • Go ahead of the curve on the moving target of cyber
  • Embrace the new rules for capital modeling and finally
  • you will be able to discuss what the future holds for cybersecurity and operational risk in business!

Who Should Attend This Event

Risk officers
Vice-Presidents and Directors of Enterprise Risk Management
Operational Risk Professionals
Information Security
Information systems
Business Continuity
Outsourcing
New Initiatives and Change Management and fnally
Internal Audit

Information Technology

 

Past Events

Event: Tailings 2.0 course: Space observation, quantitative risk assessment bring value and comply with societal demands
Sponsors:
Date/Time: 30/09/2018 - 02/10/2018 - All Day
Location: Keystone Conference Center, 0633 Tennis Club Rd, Keystone, Colorado
Details:

Tailings 2.0 course: Space observation, quantitative risk assessment bring value and comply with societal demands.

By Franco Oboni, Oboni Riskope Associates Inc., Vancouver, B.C.,

Cesar H. Oboni, Oboni Riskope Associates Inc., Vancouver, B.C.,

Micheal Henschel, MDA, Ottawa, Ont.,

Roger Morin, MDA, Richmond, B.C.,

Tailings 2.0 course: Space observation, quantitative risk assessment bring value and comply with societal demands

A brand new course from the authors of Improving Sustainability through Reasonable Risk and Crisis Management (2007) and The Long Shadow of Human‐Generated Geohazards: Risks and Crises (2016), in cooperation with MDA corporation, the largest provider of space observation data and solutions (radar interferometry -InSAR- and optical solutions).

A course beneficial for many stakeholders

This course is beneficial for many stakeholders including, but not limited to those who:

  • design,
  • permit,
  • construct,
  • operate,
  • insure and finally perhaps
  • close a geo-environmental facility in the mining and oil & gas arena.

Why this course?

The key note lecture by Henry Brehaut at TMW2017 stated that “….clearly, the need emerges to develop risk assessments that are detailed and updatable, that allow determining residual risks (after mitigations) in addition to drawing rational and sensible mitigative roadmaps”.

Thus, clearly, the “good old ways” (a.k.a. common practices, still considered by some “best practices”) do not make the cut anymore in tailings management.

In addition, the recent UNEP report entitled “Mine Tailings Storage: Safety Is No Accident” asks mining companies to make environmental and human safety a priority in management actions and on-the-ground operations by requiring:

  • detailed and ongoing evaluations of potential failure modes,

  • residual risks (UNEP uses this term to indicate the risks after known mitigation), and finally

  • perpetual costs of waste storage facilities.

All those point go in the direction of long term monitoring and observation, in addition to updated risk assessments which are the subject of this course.

A seamless two pronged approach consisting of Space Observation and Quantitative Risk Assessment synergy delivers value to the mining industry and regulators.

In this course we will show how a seamless two pronged approach consisting of Space Observation and Quantitative Risk Assessment synergy delivers value to the mining industry and also regulators. We will show how modern Space Observation (a mix of radar and optical satellite image data, as well as specific algorithms) can become input into a Quantitative Risk Assessment (QRA) platform.

We describe a QRA platform capable of using that “Rich Data” context to deliver an enhanced, updated risk landscape of a project or operation. The QRA platform has to be updatable, scalable, drillable and finally also convergent to maximize benefits.

We provide examples of specific applications this joint technology delivers to miners and governments, allowing for better Risk Informed Decision Making, which in turn generates value.

In addition this course provides case histories of specific applications where this joint technology delivers clear benefits to miners and governments, allowing for better Risk Informed Decision Making, which in turn generates value.

The two pronged approach brings significant advantages to mining end-users, whether they are mining managers, tailings stewards, other key stakeholders, and finally, the general public.

Thus, by virtue of this joint technology it is for example possible to identify emerging crises; check and update alert thresholds and finally, in timely and orderly manner, update probabilities and all other significant hazards and risk parameters. This allows to understand where projects or operations stand in term of risk mitigation at discrete and up to almost real-time pace, if and when required.

It is then possible to define a sustainable risk mitigation road-map for a dam portfolio.

During the day we will work through all the phases of the approach (based on the ORE methodology -Optimum Risk Estimates- ©Oboni Riskope Associates Inc.), including:

  • System definition
  • Success/failure criteria.
  • Delivered data
  • “Rich Data” context
  • So, what methods to use for probabilistic estimates?
  • Hazards Identification
  • Simplified breach analyses
  • Multi-dimensional consequences analyses
  • Risks
  • Risk tolerances
  • Dashboards
  • Decision-making (alternative selection, mitigation, resilience enhancements, etc.)
  • Actions (includes communication) and finally
  • Back to the start: monitoring, new data, etc.

Tailings 2.0 course: Space observation, quantitative risk assessment bring value and comply with societal demands

In order to demonstrate the above the Course Schedule and ToC follow the approach outlined below:

09:00-10:30

  • Introductions
  • System definition
  • Success/failure criteria.
  • What methods to use for probabilistic estimates and finally
  • Hazards Identification

Coffee

11:12:30

  • “Rich Data” context
  • Space observation capabilities and finally
  • Case histories

Lunch

13:30-15:00

  • Simplified breach analyses in addition to
  • Multi-dimensional consequences analyses

Coffee

15:30-17:00

  • Risk
  • Risk tolerances
  • Dashboards
  • Decision-making (alternative selection, mitigation, resilience enhancements, etc.)
  • Back to the start: monitoring, new data, etc. and finally
  • Discussions

No specific knowledge is required to follow this course.

Event: Convergent Quantitative Cyber Risk Assessment to Optimize (Mining) Enterprise Reliability
Sponsors:
Date/Time: 21/06/2018 - 12:00 pm - 1:30 pm
Location: CIM MES, 3450 University St, Adams Building, Montreal, canada
Details:

CIM MES invite Franco Oboni to present on Convergent Quantitative Cyber Risk Assessment to Optimize (Mining) Enterprise Reliability

Convergent Quantitative Cyber Risk Assessment to Optimize (Mining) Enterprise Reliability

  • Cyber risks in mining companies are a reality like those generated by storms, quakes and equipment failures.
  • The deployment of an adequate siloes-busting convergent risk analysis methodology eliminates capex squandering and increases overall enterprise reliability.
  • We should seek to maximize mitigative benefits within sustainable and reasonable investments.

Convergent Quantitative Cyber Risk Assessment to Optimize (Mining) Enterprise Reliability

Information technology (IT) , Internet of Things (IoT), and spreading connectivity are bringing very significant benefits to mining, but increase the mining industry’s exposure to cyber criminals and possibly terrorists. This phenomenon is general and occurs in every single industrial, infrastructural and service space, not only in cyber risks in mining.

During the last decade the techniques and tools of cyber attacks have become more sophisticated, the distinctions between actors and threats have become blurred and attack prospects more worrying.

Reportedly at least one major mining company has been the target of a massive hack, but serious infrastructural damages have only seldom been inflicted, and not in mining (as far as we know), but in other industries. Indeed, given the rapid escalation in the number and sophistication of cyber attacks, infrastructural damages are to be expected “any time”. Any infrastructural damage, especially those with environmental consequences or harm to people, will lead to significant crisis potential, reputational damages and legal consequences. Cyber risks in mining oil and gas companies are a reality we cannot ignore.

Wide spectrum of threats and potential consequences

There is a wide spectrum of threats and potential consequences spanning across the various functions of a mining company. From management to production and logistics. It show that:

  • siloed approaches do not work,
  • integrative one are slightly better and finally,
  • convergent approaches offer an optimum to increase reliability while mitigating risks.

Broad spectrum protection investments and particularly poorly prioritized ones are not efficient. Indeed other operational requirements oftentimes limit their scope. So it is simply not possible to protect each property from each threat. The cyberdefense must find its roots in intelligence based on convergent prioritized Risk Management. Not on standardized audits and practice of indolent regulations. Or the biased advice of fear monger solutions sellers.

Encouraging information

Encouraging information reports that, recently and in some cases, two-thirds of the overall capex on the cyber risk mitigation strategies was non-technology driven. The idea that cyber risk is not only an IT issue is finally sinking. This, however, does not necessarily mean the capex is allotted in the most efficient way at all, unless proper prioritization was performed and silo-culture is replaced by a “horizontal” thinking. And all of the above does not necessarily mean the integration of cyber risks in the ERM program.

Closing remarks

Cyber risks in mining oil and gas companies are a reality. The deployment of an adequate siloes-busting convergent analysis methodology will eliminate capex squandering and increase overall enterprise reliability.

Risk Management offers ultimately support for operational decisions and protection (mitigation). That is, provided that we:

  • define the level of acceptable risk reduction/ mitigation. and
  • formulate measurable performance targets to achieve.

 

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