How to achieve resilience in third-party risk management

In KPMG’s recent Asset Management CEO Outlook report, 77 percent of respondents said that they are concerned about their vulnerability to cyber-attacks - with identity theft and data privacy being a key concern. So, how can boards of Wealth and Asset Management firms can innovate with confidence?

Cybersecurity budgets are often poorly aligned with the actual level of risk to the organisation. Such misalignment can be driven by local challenges measuring and quantifying cyber risk, but it is compounded by the challenge of mapping perceived risk levels to security staff levels, controls, and approaches to risk mitigation. This article suggests a practical framework for leaders on how risk can become the driver of budgeting decisions.

A board decision lens for rebalancing prevention, containment, questions for deciding what to prevent, what to contain, and what to withstand.