Companies are facing many industry challenges from cyber attacks and reliance on third parties to regulatory requirements and client expectations. The dilemma is determining what to address First to reduce risk – where to focus resources, how to spend budget dollars, etc.

shadetree partners Has the expertise to help. 

CYBER ATTACKS AND VULNERABILITIES

Cyber-attacks are on the rise and imposing significant reputational and financial impact; malicious actors continue to take advantage of cyber security vulnerabilities evidenced by the increase in breaches and attacks in the past few years.

RELIANCE ON THIRD PARTIES

Frequency, reliance and scale of third-party usage introduces additional scrutiny and concerns from clients and regulatory bodies – the threat of business failure, accountability for third party actions,  regulatory fines, and reputational damage.

REGULATORY REQUIREMENTS

Global regulatory requirements continue to be fluid and complex; companies are faced with a number of new regulatory requirements and tougher restrictions. Non-compliance introduces exposure to penalties, brand damage, loss of client trust, etc.

COMPLEX TECHNOLOGY

With the proliferation of market forces such as digitization, AI, big data and technology innovations, companies are exposed to an increasing number of interdependencies and downstream impacts, resulting in complex technical environments. 

REACTIVE RISK PRACTICES

Many organizations have siloed assurance programs with overlapping activities, assessments, and mandates. Such decentralized processes and approaches lead to reactive risk practices, temporary fixes, suboptimal use of resources, and costly efforts.

CLIENT AND PARTNER EXPECTATIONS

Clients are becoming more educated and aware of the impacts of threats to their day to day operations and the consequences of sharing data with service providers, third parties, partners, etc.; as such, clients have expectations of assurances from those with access to their data to ensure they do not suffer negative consequences, financial impact, and/or reputation / brand damage.