Risk Management and Experiential Program Design in Education By Guest Contributor, Ann McCollum, Experiential Program Design Expert A sound approach to managing risk in travel and experiential programs is to pursue excellence and to practice industry standards and preferred practices . . . rather than “how to avoid a lawsuit.”  That said, Hotchkiss School’s recent $41.7 million settlement over a student contracting encephalitis on a China trip should get your attention.  (See New York Times: Conn. Student Disabled on School Trip Wins $41.7M New York Times: Conn. Student Disabled on School Trip Wins $41.7M) Potentially preventable? Yes.  There are few things that could have been done to prevent this event. First, the school’s pre-travel risk management plan should have included a risk assessment of the area to be travelled.  The assessment would have identifie...

Cybersecurity Cybersecurity Commentary by Security Management Expert Ed Levy, Firestorm Expert Council Member Edward M. Levy is a senior security executive with nearly 30-years in the corporate and government sectors. Mr. Levy was the VP & Global Head of Security for Thomson Reuters. He served in other corporate security positions with Pfizer, CIT Group, and the Empire State Building. Mr. Levy is also a retired Lieutenant Colonel from the US Army and former Assistant Professor at the United States Military Academy at West Point. Critical Computer Infrastructure Should Extend Beyond Cyberspace Recently, in an article in Homeland Security News Wire, it was detailed that the current Administration announced it is "exploring whether to issue an executive order to protect the U.S. critical computer infrastructure from cyber attacks." As stated in the article: "White House sources ...

Crisis Management – Measuring Readiness Commentary by Security Management Expert Ed Levy, Firestorm Expert Council Member Edward M. Levy is a senior security executive with nearly 30-years in the corporate and government sectors. Mr. Levy was the VP & Global Head of Security for Thomson Reuters. He served in other corporate security positions with Pfizer, CIT Group, and the Empire State Building. Mr. Levy is also a retired Lieutenant Colonel from the US Army and former Assistant Professor at the United States Military Academy at West Point. There has been much written on the importance of crisis management planning, and its significance for boards and the respective companies they govern. Crisis management plans are exactly that - a plan. A true measure of readiness to manage a crisis is to validate the plan and maintain a continuity of readiness. As Dwight D. Eisenhower stated...

Colorado Wildfires - Business Impact  Analysis by Firestorm Principal Guy Higgins Wildfires are frightening events.  The wildfire outside of Colorado Springs is one of three wildfires along Colorado’s Front Range.  Major fires are also burning outside Fort Collins and around Estes Park and a smaller, but uncontained, wildfire is burning just west of Boulder. On the Waldo Canyon Fire, Mayor Steve Bach released sobering news Thursday. "Hundreds of homes were destroyed," he said. A more precise number is expected later Wednesday. Bach said crews are meticulously going through addresses to make certain all information is accurate before releasing any further details. Information: Latest Updates on Evacuations    The media focus for these wildfires is largely on the loss of homes and the impact on families.  Then the media turns to immediate impact on b...

Managing the Risk of Risk Management Risk Management by Ed Levy, Firestorm Expert Council Member Edward M. Levy is a senior security executive with nearly 30-years in the corporate and government sectors. Mr. Levy was the VP & Global Head of Security for Thomson Reuters. He served in other corporate security positions with Pfizer, CIT Group, and the Empire State Building. Mr. Levy is also a retired Lieutenant Colonel form the US Army and former Assistant Professor at the United States Military Academy at West Point. When I was playing high school football, after one game I told the coach, “I almost made an interception.” He responded back, “is that like almost being pregnant”? I realized there was no almost. You either got it or you didn’t. In my view, it is the same concept with risk management – you are either applying its principles or not - there is no almost. I have learne...

Question Today the Ongoing Value of Capitalized Items   Part 2 of 5 by Gary Patterson - The Fiscal Doctor   Gary W. Patterson - http://www.fiscaldoctor.com This article is the second of five by Firestorm Expert Council member Gary W. Patterson exploring the Five Key Areas where Risk may be lurking in your company, an excerpt from his book Stick Out Your Balance Sheet and Cough Review Part 1 and take the Internal Exam Survey: The Internal Exam – Five Areas Where Risk Can Lurk Would you feel better about the issue of capitalization if you saw examples of how large companies with access to award-winning systems still make monumental mistakes when they http://news.cnet.com/2100-1033-257278.html misread the market? For example, Cisco had world-class information systems and processes for financial reporting and operational controls in place when it wrote off $3 billion of inv...

Social Media Risk Management   Dell's 10 social media tips when commenting and responding to customers online We've always admired Dell's well-managed approach to Social Media, and they are gracious in allowing the below infographic to be embedded and shared. For small companies, managing social media interaction may prove taxing and confusing, especially in the event of negative or Brand Detractor information - remember, Brand Detractors may be those who dislike your brand (or you) for whatever reason; disgruntled former employees, former vendors, former customers, negative general review sites, competitors...monitoring is key. As we've discussed, the National Labor Relations Board (NLRB), regulators, and others have created significant new social media risk requirements. One Federal regulator, The Financial Industry Regulatory Authority (FINRA), has issued a regulatory notic...

Banking and Risk Management An Analysis by Jerry Hudspeth JPMorgan was warned risk management not up to task SUMMARY:  CtW Investment Group, a labor-backed shareholder group, last year warned JPMorgan Chase & Co that its risk management committee was not up to the task. "We are deeply concerned that the current three-person risk policy committee, without a single expert in banking or financial regulation, is simply not up to the task of overseeing risk management at one of the world's largest and most complex financial institutions," an April 1, 2011, letter from CtW said. CtW urged replacing Futter, one of the three members of the risk committee on JPMorgan's board, and increasing the committee's authority and oversight responsibilities. "Without an overhaul of the committee's mandate and membership, we are profoundly concerned for the committee's ability to provide eff...

NATO in Chicago - Ten Steps to Protect Your Business   Business Continuity By Sarah Jansen, Vice President, Business Continuity & Risk at Envestnet Asset Management, Guest Contributor Ms. Jansen and Firestorm will host a no-fee webinar as a companion to this article on April 26th, 2012 at 2-3 PM Eastern: MAJOR CITY EVENTS, Social Media and Business Continuity - Ten Steps to Preparation    With G8 taking place outside Chicago and The 2012 NATO Summit scheduled for Sunday May 20th and Monday May 21st in Chicago there is a sense of relief in many businesses across the city; there will be fewer disturbances, fewer protesters, fewer road blocks and generally less people in the city. But does it? NATO includes most all G8 leaders and makes up a larger number of dignitaries. Protest groups such as the Occupy Movement have communicated their intention to conti...

     -   Link, Like, Follow, Circle - Have a question to ask or topic to suggest? Let us know! CONTINUOUS BREAKING:  Anonymous Continues Attacks - Targets US and Foreign Government Websites - Symantec warns: Disable pcAnywhere  This story stream is powered by the Firestorm Storify account, and will be updated as new information and events unfold.  Check back often. Anonymous targets OnGuardOnline.gov: In a post on Twitter by the Federal Trade Commission (FTC), which runs OnGuardOnline.gov, the FTC stated that their partnership site was hacked and that they take this malicious act seriously. In a follow up tweet they stated that the site was taken offline and would be brought back up once they were satisfied that the vulnerability has been addressed > Story Stream CONTENTS: This week's contributors:   Anti-in...