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Dialogue: 0,0:00:00.08,0:00:03.04,Default,,0000,0000,0000,,risk mapping in risk management welcome
Dialogue: 0,0:00:03.04,0:00:05.04,Default,,0000,0000,0000,,to the risk management of everything
Dialogue: 0,0:00:05.04,0:00:07.76,Default,,0000,0000,0000,,channel on this channel you will find
Dialogue: 0,0:00:07.76,0:00:09.68,Default,,0000,0000,0000,,videos on risk management and the
Dialogue: 0,0:00:09.68,0:00:11.44,Default,,0000,0000,0000,,application of risk management to
Dialogue: 0,0:00:11.44,0:00:13.76,Default,,0000,0000,0000,,diverse areas and sectors
Dialogue: 0,0:00:13.76,0:00:15.84,Default,,0000,0000,0000,,if you are new here please consider
Dialogue: 0,0:00:15.84,0:00:17.76,Default,,0000,0000,0000,,subscribing to our channel and press the
Dialogue: 0,0:00:17.76,0:00:19.84,Default,,0000,0000,0000,,notification button so you can be
Dialogue: 0,0:00:19.84,0:00:22.80,Default,,0000,0000,0000,,notified when we upload new videos
Dialogue: 0,0:00:22.80,0:00:25.28,Default,,0000,0000,0000,,thank you risk mapping in risk
Dialogue: 0,0:00:25.28,0:00:28.00,Default,,0000,0000,0000,,management is discussed in this video
Dialogue: 0,0:00:28.00,0:00:30.48,Default,,0000,0000,0000,,in this video we'll discuss how a risk
Dialogue: 0,0:00:30.48,0:00:32.72,Default,,0000,0000,0000,,map can be used by an organization to
Dialogue: 0,0:00:32.72,0:00:34.20,Default,,0000,0000,0000,,manage its risks in an
Dialogue: 0,0:00:34.20,0:00:35.36,Default,,0000,0000,0000,,easy-to-understand
Dialogue: 0,0:00:35.36,0:00:38.72,Default,,0000,0000,0000,,way now let us start
Dialogue: 0,0:00:38.72,0:00:41.20,Default,,0000,0000,0000,,meaning of a risk risk is the
Dialogue: 0,0:00:41.20,0:00:43.68,Default,,0000,0000,0000,,uncertainty of a financial loss
Dialogue: 0,0:00:43.68,0:00:45.52,Default,,0000,0000,0000,,a risk exists where there is an
Dialogue: 0,0:00:45.52,0:00:48.08,Default,,0000,0000,0000,,opportunity for a profit or a loss
Dialogue: 0,0:00:48.08,0:00:50.48,Default,,0000,0000,0000,,in terms of losses we commonly refer to
Dialogue: 0,0:00:50.48,0:00:52.56,Default,,0000,0000,0000,,the risks as exposures to loss
Dialogue: 0,0:00:52.56,0:00:56.40,Default,,0000,0000,0000,,or simply exposures fire is an exposure
Dialogue: 0,0:00:56.40,0:00:58.88,Default,,0000,0000,0000,,defective products or defamation are
Dialogue: 0,0:00:58.88,0:01:00.80,Default,,0000,0000,0000,,liability exposures
Dialogue: 0,0:01:00.80,0:01:02.80,Default,,0000,0000,0000,,the loss of business that results from a
Dialogue: 0,0:01:02.80,0:01:05.28,Default,,0000,0000,0000,,damaged building or tarnished reputation
Dialogue: 0,0:01:05.28,0:01:08.40,Default,,0000,0000,0000,,is also an exposure risks can come from
Dialogue: 0,0:01:08.40,0:01:10.88,Default,,0000,0000,0000,,various sources including uncertainty in
Dialogue: 0,0:01:10.88,0:01:12.40,Default,,0000,0000,0000,,international markets
Dialogue: 0,0:01:12.40,0:01:14.88,Default,,0000,0000,0000,,threats from project failures at any
Dialogue: 0,0:01:14.88,0:01:16.24,Default,,0000,0000,0000,,phase in design
Dialogue: 0,0:01:16.24,0:01:18.88,Default,,0000,0000,0000,,development production or sustaining of
Dialogue: 0,0:01:18.88,0:01:20.08,Default,,0000,0000,0000,,life cycles
Dialogue: 0,0:01:20.08,0:01:23.52,Default,,0000,0000,0000,,legal liabilities credit risk accidents
Dialogue: 0,0:01:23.52,0:01:26.24,Default,,0000,0000,0000,,natural causes and disasters deliberate
Dialogue: 0,0:01:26.24,0:01:27.04,Default,,0000,0000,0000,,attack from an
Dialogue: 0,0:01:27.04,0:01:29.36,Default,,0000,0000,0000,,adversary or events of uncertain or
Dialogue: 0,0:01:29.36,0:01:31.52,Default,,0000,0000,0000,,unpredictable root cause
Dialogue: 0,0:01:31.52,0:01:33.84,Default,,0000,0000,0000,,there are two types of events which are
Dialogue: 0,0:01:33.84,0:01:34.64,Default,,0000,0000,0000,,one
Dialogue: 0,0:01:34.64,0:01:36.72,Default,,0000,0000,0000,,negative events which can be classified
Dialogue: 0,0:01:36.72,0:01:38.40,Default,,0000,0000,0000,,as risks or threats
Dialogue: 0,0:01:38.40,0:01:40.96,Default,,0000,0000,0000,,and two positive events that may be
Dialogue: 0,0:01:40.96,0:01:43.44,Default,,0000,0000,0000,,classified as opportunities
Dialogue: 0,0:01:43.44,0:01:46.64,Default,,0000,0000,0000,,what is risk management risk management
Dialogue: 0,0:01:46.64,0:01:48.88,Default,,0000,0000,0000,,is the process of identification
Dialogue: 0,0:01:48.88,0:01:51.60,Default,,0000,0000,0000,,analysis and acceptance or mitigation of
Dialogue: 0,0:01:51.60,0:01:54.48,Default,,0000,0000,0000,,uncertainty in investment decisions
Dialogue: 0,0:01:54.48,0:01:56.80,Default,,0000,0000,0000,,organizations face many risks and they
Dialogue: 0,0:01:56.80,0:01:58.56,Default,,0000,0000,0000,,must decide where to focus their
Dialogue: 0,0:01:58.56,0:02:00.48,Default,,0000,0000,0000,,mitigation resources
Dialogue: 0,0:02:00.48,0:02:03.44,Default,,0000,0000,0000,,to handle or manage risks organizations
Dialogue: 0,0:02:03.44,0:02:05.52,Default,,0000,0000,0000,,usually have the options to avoid
Dialogue: 0,0:02:05.52,0:02:08.64,Default,,0000,0000,0000,,control accept or transfer risk the
Dialogue: 0,0:02:08.64,0:02:11.12,Default,,0000,0000,0000,,adverse effects of risk can be objective
Dialogue: 0,0:02:11.12,0:02:13.76,Default,,0000,0000,0000,,or quantifiable like insurance premiums
Dialogue: 0,0:02:13.76,0:02:15.20,Default,,0000,0000,0000,,and claims costs
Dialogue: 0,0:02:15.20,0:02:17.52,Default,,0000,0000,0000,,or subjective and difficult to quantify
Dialogue: 0,0:02:17.52,0:02:19.52,Default,,0000,0000,0000,,such as damage to reputation or
Dialogue: 0,0:02:19.52,0:02:21.36,Default,,0000,0000,0000,,decreased productivity
Dialogue: 0,0:02:21.36,0:02:23.36,Default,,0000,0000,0000,,by focusing attention on risk and
Dialogue: 0,0:02:23.36,0:02:25.36,Default,,0000,0000,0000,,committing the necessary resources to
Dialogue: 0,0:02:25.36,0:02:27.44,Default,,0000,0000,0000,,control and mitigate risk
Dialogue: 0,0:02:27.44,0:02:29.44,Default,,0000,0000,0000,,a business will protect itself from
Dialogue: 0,0:02:29.44,0:02:30.56,Default,,0000,0000,0000,,uncertainty
Dialogue: 0,0:02:30.56,0:02:33.36,Default,,0000,0000,0000,,reduce costs and increase the likelihood
Dialogue: 0,0:02:33.36,0:02:36.00,Default,,0000,0000,0000,,of business continuity and success
Dialogue: 0,0:02:36.00,0:02:38.56,Default,,0000,0000,0000,,meanwhile a risk map can be used as a
Dialogue: 0,0:02:38.56,0:02:40.64,Default,,0000,0000,0000,,tool to improve the risk management
Dialogue: 0,0:02:40.64,0:02:42.88,Default,,0000,0000,0000,,system of an organization
Dialogue: 0,0:02:42.88,0:02:46.48,Default,,0000,0000,0000,,what is a risk map a risk map also known
Dialogue: 0,0:02:46.48,0:02:47.84,Default,,0000,0000,0000,,as a risk heat map
Dialogue: 0,0:02:47.84,0:02:49.92,Default,,0000,0000,0000,,is a data visualization tool for
Dialogue: 0,0:02:49.92,0:02:51.76,Default,,0000,0000,0000,,communicating specific risks and
Dialogue: 0,0:02:51.76,0:02:53.68,Default,,0000,0000,0000,,organization faces
Dialogue: 0,0:02:53.68,0:02:56.00,Default,,0000,0000,0000,,a risk map is a graphical depiction of a
Dialogue: 0,0:02:56.00,0:02:57.84,Default,,0000,0000,0000,,select number of accompanies risks
Dialogue: 0,0:02:57.84,0:02:59.84,Default,,0000,0000,0000,,designed to illustrate the impact or
Dialogue: 0,0:02:59.84,0:03:02.08,Default,,0000,0000,0000,,significance of risks on one axis and
Dialogue: 0,0:03:02.08,0:03:04.80,Default,,0000,0000,0000,,the likelihood or frequency on the other
Dialogue: 0,0:03:04.80,0:03:07.04,Default,,0000,0000,0000,,risk mapping is used to assist in
Dialogue: 0,0:03:07.04,0:03:08.20,Default,,0000,0000,0000,,identifying
Dialogue: 0,0:03:08.20,0:03:11.36,Default,,0000,0000,0000,,prioritizing and quantifying at a macro
Dialogue: 0,0:03:11.36,0:03:11.92,Default,,0000,0000,0000,,level
Dialogue: 0,0:03:11.92,0:03:14.32,Default,,0000,0000,0000,,risks to an organization this
Dialogue: 0,0:03:14.32,0:03:16.56,Default,,0000,0000,0000,,representation often takes the form of a
Dialogue: 0,0:03:16.56,0:03:18.72,Default,,0000,0000,0000,,two-dimensional grid with frequency
Dialogue: 0,0:03:18.72,0:03:21.60,Default,,0000,0000,0000,,or likelihood of occurrence on one axis
Dialogue: 0,0:03:21.60,0:03:22.56,Default,,0000,0000,0000,,and severity
Dialogue: 0,0:03:22.56,0:03:24.88,Default,,0000,0000,0000,,or degree of financial impact on the
Dialogue: 0,0:03:24.88,0:03:25.84,Default,,0000,0000,0000,,other axes
Dialogue: 0,0:03:25.84,0:03:27.44,Default,,0000,0000,0000,,the risks that fall in the high
Dialogue: 0,0:03:27.44,0:03:30.00,Default,,0000,0000,0000,,frequency high severity quadrant are
Dialogue: 0,0:03:30.00,0:03:32.16,Default,,0000,0000,0000,,given priority risk management
Dialogue: 0,0:03:32.16,0:03:34.96,Default,,0000,0000,0000,,attention a risk map helps companies
Dialogue: 0,0:03:34.96,0:03:37.20,Default,,0000,0000,0000,,identify and prioritize the risks
Dialogue: 0,0:03:37.20,0:03:39.28,Default,,0000,0000,0000,,associated with their business
Dialogue: 0,0:03:39.28,0:03:41.52,Default,,0000,0000,0000,,the goal of a risk map is to improve an
Dialogue: 0,0:03:41.52,0:03:43.84,Default,,0000,0000,0000,,organization's understanding of its risk
Dialogue: 0,0:03:43.84,0:03:45.28,Default,,0000,0000,0000,,profile and appetite
Dialogue: 0,0:03:45.28,0:03:47.20,Default,,0000,0000,0000,,clarify thinking on the nature and
Dialogue: 0,0:03:47.20,0:03:48.56,Default,,0000,0000,0000,,impact of risks
Dialogue: 0,0:03:48.56,0:03:50.64,Default,,0000,0000,0000,,and improve the organization's risk
Dialogue: 0,0:03:50.64,0:03:52.08,Default,,0000,0000,0000,,assessment model
Dialogue: 0,0:03:52.08,0:03:54.48,Default,,0000,0000,0000,,in the enterprise a risk map is often
Dialogue: 0,0:03:54.48,0:03:57.20,Default,,0000,0000,0000,,presented as a two-dimensional matrix
Dialogue: 0,0:03:57.20,0:03:59.52,Default,,0000,0000,0000,,for example the likelihood the risk will
Dialogue: 0,0:03:59.52,0:04:01.84,Default,,0000,0000,0000,,occur may be plotted on the x-axis
Dialogue: 0,0:04:01.84,0:04:03.60,Default,,0000,0000,0000,,while the impact of the same risk is
Dialogue: 0,0:04:03.60,0:04:05.52,Default,,0000,0000,0000,,plotted on the y-axis
Dialogue: 0,0:04:05.52,0:04:07.44,Default,,0000,0000,0000,,a risk map is considered a critical
Dialogue: 0,0:04:07.44,0:04:09.84,Default,,0000,0000,0000,,component of enterprise risk management
Dialogue: 0,0:04:09.84,0:04:12.00,Default,,0000,0000,0000,,because it helps identify risks that
Dialogue: 0,0:04:12.00,0:04:13.60,Default,,0000,0000,0000,,need more attention
Dialogue: 0,0:04:13.60,0:04:15.92,Default,,0000,0000,0000,,identified risks that fall in the high
Dialogue: 0,0:04:15.92,0:04:18.24,Default,,0000,0000,0000,,frequency and high severity section can
Dialogue: 0,0:04:18.24,0:04:21.36,Default,,0000,0000,0000,,then be made a priority by organizations
Dialogue: 0,0:04:21.36,0:04:23.44,Default,,0000,0000,0000,,if the organization is disbursed
Dialogue: 0,0:04:23.44,0:04:25.60,Default,,0000,0000,0000,,geographically and certain risks are
Dialogue: 0,0:04:25.60,0:04:27.92,Default,,0000,0000,0000,,associated with certain geographical
Dialogue: 0,0:04:27.92,0:04:28.64,Default,,0000,0000,0000,,areas
Dialogue: 0,0:04:28.64,0:04:30.56,Default,,0000,0000,0000,,risks might be illustrated with a heat
Dialogue: 0,0:04:30.56,0:04:32.88,Default,,0000,0000,0000,,map using color to illustrate the levels
Dialogue: 0,0:04:32.88,0:04:34.80,Default,,0000,0000,0000,,of risk to which individual branch
Dialogue: 0,0:04:34.80,0:04:36.96,Default,,0000,0000,0000,,offices are exposed
Dialogue: 0,0:04:36.96,0:04:40.16,Default,,0000,0000,0000,,why it's important to create a risk map
Dialogue: 0,0:04:40.16,0:04:42.24,Default,,0000,0000,0000,,a risk map offers a visualized
Dialogue: 0,0:04:42.24,0:04:44.40,Default,,0000,0000,0000,,comprehensive view of the likelihood and
Dialogue: 0,0:04:44.40,0:04:47.20,Default,,0000,0000,0000,,impact of an organization's risks
Dialogue: 0,0:04:47.20,0:04:49.60,Default,,0000,0000,0000,,this helps the organization improve risk
Dialogue: 0,0:04:49.60,0:04:51.44,Default,,0000,0000,0000,,management and risk governance by
Dialogue: 0,0:04:51.44,0:04:54.48,Default,,0000,0000,0000,,prioritizing risk management efforts
Dialogue: 0,0:04:54.48,0:04:57.20,Default,,0000,0000,0000,,this risk prioritization enables them to
Dialogue: 0,0:04:57.20,0:04:59.04,Default,,0000,0000,0000,,focus time and money on the most
Dialogue: 0,0:04:59.04,0:05:01.52,Default,,0000,0000,0000,,potentially damaging risks identified in
Dialogue: 0,0:05:01.52,0:05:02.32,Default,,0000,0000,0000,,a heat map
Dialogue: 0,0:05:02.32,0:05:05.16,Default,,0000,0000,0000,,chart a risk map also facilitates
Dialogue: 0,0:05:05.16,0:05:07.36,Default,,0000,0000,0000,,inter-departmental dialogues about an
Dialogue: 0,0:05:07.36,0:05:09.20,Default,,0000,0000,0000,,organization's inherent risks and
Dialogue: 0,0:05:09.20,0:05:11.04,Default,,0000,0000,0000,,promotes communication about
Dialogue: 0,0:05:11.04,0:05:13.60,Default,,0000,0000,0000,,risks throughout the organization it
Dialogue: 0,0:05:13.60,0:05:16.24,Default,,0000,0000,0000,,helps organizations visualize risks in
Dialogue: 0,0:05:16.24,0:05:17.68,Default,,0000,0000,0000,,relation to each other
Dialogue: 0,0:05:17.68,0:05:19.28,Default,,0000,0000,0000,,and it guides the development of a
Dialogue: 0,0:05:19.28,0:05:21.28,Default,,0000,0000,0000,,control assessment of how to deal with
Dialogue: 0,0:05:21.28,0:05:23.28,Default,,0000,0000,0000,,the risks and the consequence of those
Dialogue: 0,0:05:23.28,0:05:24.64,Default,,0000,0000,0000,,risks
Dialogue: 0,0:05:24.64,0:05:27.68,Default,,0000,0000,0000,,benefits of using risk heat maps
Dialogue: 0,0:05:27.68,0:05:29.76,Default,,0000,0000,0000,,risk heat maps can offer significant
Dialogue: 0,0:05:29.76,0:05:32.16,Default,,0000,0000,0000,,benefits to organizations
Dialogue: 0,0:05:32.16,0:05:34.08,Default,,0000,0000,0000,,here are some of the benefits of using
Dialogue: 0,0:05:34.08,0:05:37.76,Default,,0000,0000,0000,,risk heat maps by an organization
Dialogue: 0,0:05:37.76,0:05:40.64,Default,,0000,0000,0000,,visual big picture holistic view that
Dialogue: 0,0:05:40.64,0:05:42.40,Default,,0000,0000,0000,,can be shared to make strategic
Dialogue: 0,0:05:42.40,0:05:44.48,Default,,0000,0000,0000,,decisions
Dialogue: 0,0:05:44.48,0:05:46.32,Default,,0000,0000,0000,,improved management of risks and
Dialogue: 0,0:05:46.32,0:05:48.16,Default,,0000,0000,0000,,governance of the risk management
Dialogue: 0,0:05:48.16,0:05:50.16,Default,,0000,0000,0000,,process
Dialogue: 0,0:05:50.16,0:05:52.48,Default,,0000,0000,0000,,increased focus on risk appetite and the
Dialogue: 0,0:05:52.48,0:05:55.44,Default,,0000,0000,0000,,risk tolerance of the company
Dialogue: 0,0:05:55.44,0:05:57.36,Default,,0000,0000,0000,,more precision in the risk assessment
Dialogue: 0,0:05:57.36,0:05:59.36,Default,,0000,0000,0000,,and mitigation process
Dialogue: 0,0:05:59.36,0:06:02.64,Default,,0000,0000,0000,,and greater integration of risk
Dialogue: 0,0:06:02.64,0:06:05.60,Default,,0000,0000,0000,,management actions across the enterprise
Dialogue: 0,0:06:05.60,0:06:07.92,Default,,0000,0000,0000,,the importance of risk mapping business
Dialogue: 0,0:06:07.92,0:06:09.60,Default,,0000,0000,0000,,organizations
Dialogue: 0,0:06:09.60,0:06:11.68,Default,,0000,0000,0000,,why should your organization be using
Dialogue: 0,0:06:11.68,0:06:13.44,Default,,0000,0000,0000,,risk maps
Dialogue: 0,0:06:13.44,0:06:15.76,Default,,0000,0000,0000,,building a risk map brings valuable
Dialogue: 0,0:06:15.76,0:06:16.96,Default,,0000,0000,0000,,benefits
Dialogue: 0,0:06:16.96,0:06:18.72,Default,,0000,0000,0000,,you will have a thorough understanding
Dialogue: 0,0:06:18.72,0:06:20.16,Default,,0000,0000,0000,,of your risk environment
Dialogue: 0,0:06:20.16,0:06:22.40,Default,,0000,0000,0000,,and how individual risks compare to one
Dialogue: 0,0:06:22.40,0:06:23.20,Default,,0000,0000,0000,,another
Dialogue: 0,0:06:23.20,0:06:25.20,Default,,0000,0000,0000,,you can use this to strategically
Dialogue: 0,0:06:25.20,0:06:27.28,Default,,0000,0000,0000,,prioritize your risks and determine
Dialogue: 0,0:06:27.28,0:06:29.76,Default,,0000,0000,0000,,where to use your limited resources
Dialogue: 0,0:06:29.76,0:06:32.32,Default,,0000,0000,0000,,the map can help the company vesu police
Dialogue: 0,0:06:32.32,0:06:33.92,Default,,0000,0000,0000,,how risks in one part of the
Dialogue: 0,0:06:33.92,0:06:36.16,Default,,0000,0000,0000,,organization can affect operations of
Dialogue: 0,0:06:36.16,0:06:37.76,Default,,0000,0000,0000,,another business unit within the
Dialogue: 0,0:06:37.76,0:06:39.04,Default,,0000,0000,0000,,organization
Dialogue: 0,0:06:39.04,0:06:41.36,Default,,0000,0000,0000,,a risk map also adds precision to an
Dialogue: 0,0:06:41.36,0:06:43.92,Default,,0000,0000,0000,,organization's risk assessment strategy
Dialogue: 0,0:06:43.92,0:06:44.16,Default,,0000,0000,0000,,and
Dialogue: 0,0:06:44.16,0:06:46.56,Default,,0000,0000,0000,,identifies gaps in an organization's
Dialogue: 0,0:06:46.56,0:06:48.80,Default,,0000,0000,0000,,risk management processes
Dialogue: 0,0:06:48.80,0:06:50.72,Default,,0000,0000,0000,,a risk map is built by plotting the
Dialogue: 0,0:06:50.72,0:06:53.12,Default,,0000,0000,0000,,frequency of a risk on the y-axis of the
Dialogue: 0,0:06:53.12,0:06:56.00,Default,,0000,0000,0000,,chart and the severity on the x-axis
Dialogue: 0,0:06:56.00,0:06:58.08,Default,,0000,0000,0000,,frequency is how likely the risk is or
Dialogue: 0,0:06:58.08,0:07:00.24,Default,,0000,0000,0000,,how often you think it will occur
Dialogue: 0,0:07:00.24,0:07:02.32,Default,,0000,0000,0000,,severity is how much of an impact it
Dialogue: 0,0:07:02.32,0:07:04.00,Default,,0000,0000,0000,,would have if it did occur
Dialogue: 0,0:07:04.00,0:07:05.84,Default,,0000,0000,0000,,the higher risk ranks for these
Dialogue: 0,0:07:05.84,0:07:08.00,Default,,0000,0000,0000,,qualities the more threatening it is to
Dialogue: 0,0:07:08.00,0:07:09.76,Default,,0000,0000,0000,,your organization
Dialogue: 0,0:07:09.76,0:07:12.56,Default,,0000,0000,0000,,the most severe and frequent risks your
Dialogue: 0,0:07:12.56,0:07:13.84,Default,,0000,0000,0000,,primary risks
Dialogue: 0,0:07:13.84,0:07:15.36,Default,,0000,0000,0000,,are critical and would hinder your
Dialogue: 0,0:07:15.36,0:07:17.44,Default,,0000,0000,0000,,ability to conduct business
Dialogue: 0,0:07:17.44,0:07:20.08,Default,,0000,0000,0000,,risks that are severe but unlikely that
Dialogue: 0,0:07:20.08,0:07:22.24,Default,,0000,0000,0000,,is your detect and monitor risks
Dialogue: 0,0:07:22.24,0:07:24.08,Default,,0000,0000,0000,,are those risks that should be watched
Dialogue: 0,0:07:24.08,0:07:26.32,Default,,0000,0000,0000,,but don't require heavy mitigation
Dialogue: 0,0:07:26.32,0:07:27.52,Default,,0000,0000,0000,,strategies
Dialogue: 0,0:07:27.52,0:07:29.44,Default,,0000,0000,0000,,risks that are highly likely but
Dialogue: 0,0:07:29.44,0:07:32.00,Default,,0000,0000,0000,,insignificant your monitor risks
Dialogue: 0,0:07:32.00,0:07:34.40,Default,,0000,0000,0000,,will not impact your ability to continue
Dialogue: 0,0:07:34.40,0:07:35.76,Default,,0000,0000,0000,,operations
Dialogue: 0,0:07:35.76,0:07:37.92,Default,,0000,0000,0000,,finally the risks that are low in both
Dialogue: 0,0:07:37.92,0:07:39.52,Default,,0000,0000,0000,,frequency and severity
Dialogue: 0,0:07:39.52,0:07:42.40,Default,,0000,0000,0000,,your low control risks can be revisited
Dialogue: 0,0:07:42.40,0:07:44.08,Default,,0000,0000,0000,,on a yearly basis to ensure
Dialogue: 0,0:07:44.08,0:07:46.96,Default,,0000,0000,0000,,the risk remains low risk maps are a
Dialogue: 0,0:07:46.96,0:07:48.56,Default,,0000,0000,0000,,valuable tool as they assist
Dialogue: 0,0:07:48.56,0:07:50.56,Default,,0000,0000,0000,,organizations too
Dialogue: 0,0:07:50.56,0:07:53.92,Default,,0000,0000,0000,,1. understand the risk environment
Dialogue: 0,0:07:53.92,0:07:56.08,Default,,0000,0000,0000,,risk management begins with building a
Dialogue: 0,0:07:56.08,0:07:58.32,Default,,0000,0000,0000,,list of all risks your organization
Dialogue: 0,0:07:58.32,0:08:01.52,Default,,0000,0000,0000,,faces depending on your industry this
Dialogue: 0,0:08:01.52,0:08:03.44,Default,,0000,0000,0000,,number could range from a handful to
Dialogue: 0,0:08:03.44,0:08:04.48,Default,,0000,0000,0000,,hundreds
Dialogue: 0,0:08:04.48,0:08:06.40,Default,,0000,0000,0000,,risk mapping is beneficial because it
Dialogue: 0,0:08:06.40,0:08:07.68,Default,,0000,0000,0000,,requires you to assess
Dialogue: 0,0:08:07.68,0:08:09.44,Default,,0000,0000,0000,,each risk and its causes and
Dialogue: 0,0:08:09.44,0:08:11.52,Default,,0000,0000,0000,,consequences individually
Dialogue: 0,0:08:11.52,0:08:13.84,Default,,0000,0000,0000,,it also allows you to look at your risk
Dialogue: 0,0:08:13.84,0:08:15.84,Default,,0000,0000,0000,,environment as a whole and understand
Dialogue: 0,0:08:15.84,0:08:18.72,Default,,0000,0000,0000,,how frequencies and severities compare
Dialogue: 0,0:08:18.72,0:08:20.88,Default,,0000,0000,0000,,finally a risk map is a visual that
Dialogue: 0,0:08:20.88,0:08:23.44,Default,,0000,0000,0000,,anyone in your organization can use to
Dialogue: 0,0:08:23.44,0:08:25.44,Default,,0000,0000,0000,,see the big picture of risk's most
Dialogue: 0,0:08:25.44,0:08:26.00,Default,,0000,0000,0000,,prominent
Dialogue: 0,0:08:26.00,0:08:29.36,Default,,0000,0000,0000,,in your industry or workplace 2.
Dialogue: 0,0:08:29.36,0:08:32.48,Default,,0000,0000,0000,,prioritize mitigation strategies
Dialogue: 0,0:08:32.48,0:08:35.04,Default,,0000,0000,0000,,with limited resources it's important to
Dialogue: 0,0:08:35.04,0:08:38.08,Default,,0000,0000,0000,,be strategic about mitigation techniques
Dialogue: 0,0:08:38.08,0:08:40.08,Default,,0000,0000,0000,,risk mapping allows you to determine
Dialogue: 0,0:08:40.08,0:08:41.92,Default,,0000,0000,0000,,what steps to take first
Dialogue: 0,0:08:41.92,0:08:44.00,Default,,0000,0000,0000,,implement prevention tactics for the
Dialogue: 0,0:08:44.00,0:08:46.08,Default,,0000,0000,0000,,most frequent and severe risks before
Dialogue: 0,0:08:46.08,0:08:47.60,Default,,0000,0000,0000,,moving on to others
Dialogue: 0,0:08:47.60,0:08:50.08,Default,,0000,0000,0000,,this prioritization method ensures that
Dialogue: 0,0:08:50.08,0:08:52.00,Default,,0000,0000,0000,,you address the risks that have the most
Dialogue: 0,0:08:52.00,0:08:53.84,Default,,0000,0000,0000,,potential to cause harm to your
Dialogue: 0,0:08:53.84,0:08:55.44,Default,,0000,0000,0000,,organization
Dialogue: 0,0:08:55.44,0:08:58.96,Default,,0000,0000,0000,,three allocate limited resources
Dialogue: 0,0:08:58.96,0:09:01.28,Default,,0000,0000,0000,,whether your organization consists of
Dialogue: 0,0:09:01.28,0:09:03.36,Default,,0000,0000,0000,,two employees or two thousand
Dialogue: 0,0:09:03.36,0:09:06.24,Default,,0000,0000,0000,,risk managers have limited resources
Dialogue: 0,0:09:06.24,0:09:08.32,Default,,0000,0000,0000,,risk mapping allows you to use them to
Dialogue: 0,0:09:08.32,0:09:10.40,Default,,0000,0000,0000,,prevent primary risks
Dialogue: 0,0:09:10.40,0:09:12.88,Default,,0000,0000,0000,,d m risks should be revisited several
Dialogue: 0,0:09:12.88,0:09:14.96,Default,,0000,0000,0000,,times a year to ensure appropriate
Dialogue: 0,0:09:14.96,0:09:16.24,Default,,0000,0000,0000,,management
Dialogue: 0,0:09:16.24,0:09:18.64,Default,,0000,0000,0000,,similarly monitor risks typically only
Dialogue: 0,0:09:18.64,0:09:20.56,Default,,0000,0000,0000,,need to be checked yearly to ensure
Dialogue: 0,0:09:20.56,0:09:23.28,Default,,0000,0000,0000,,their potential impact hasn't grown
Dialogue: 0,0:09:23.28,0:09:25.76,Default,,0000,0000,0000,,finally by figuring out which risks are
Dialogue: 0,0:09:25.76,0:09:26.80,Default,,0000,0000,0000,,low control
Dialogue: 0,0:09:26.80,0:09:28.72,Default,,0000,0000,0000,,you will know where not to spend time
Dialogue: 0,0:09:28.72,0:09:29.84,Default,,0000,0000,0000,,and money
Dialogue: 0,0:09:29.84,0:09:32.48,Default,,0000,0000,0000,,however keep in mind that no risk can be
Dialogue: 0,0:09:32.48,0:09:33.84,Default,,0000,0000,0000,,completely ignored
Dialogue: 0,0:09:33.84,0:09:35.84,Default,,0000,0000,0000,,make sure you still consider these in
Dialogue: 0,0:09:35.84,0:09:37.92,Default,,0000,0000,0000,,future assessments and ensure that the
Dialogue: 0,0:09:37.92,0:09:40.96,Default,,0000,0000,0000,,low risk status has not changed
Dialogue: 0,0:09:40.96,0:09:44.72,Default,,0000,0000,0000,,4. receive better insurance premiums
Dialogue: 0,0:09:44.72,0:09:47.04,Default,,0000,0000,0000,,risk maps can also help your
Dialogue: 0,0:09:47.04,0:09:48.48,Default,,0000,0000,0000,,organization in becoming an
Dialogue: 0,0:09:48.48,0:09:49.68,Default,,0000,0000,0000,,international standard
Dialogue: 0,0:09:49.68,0:09:52.72,Default,,0000,0000,0000,,organization iso certified
Dialogue: 0,0:09:52.72,0:09:54.16,Default,,0000,0000,0000,,as it shows that you have an
Dialogue: 0,0:09:54.16,0:09:56.24,Default,,0000,0000,0000,,understanding of your risk environment
Dialogue: 0,0:09:56.24,0:09:59.04,Default,,0000,0000,0000,,and a strategic plan for moving forward
Dialogue: 0,0:09:59.04,0:10:00.88,Default,,0000,0000,0000,,this can also help you receive
Dialogue: 0,0:10:00.88,0:10:03.36,Default,,0000,0000,0000,,competitive insurance premiums
Dialogue: 0,0:10:03.36,0:10:05.52,Default,,0000,0000,0000,,insurers are looking for good risk or
Dialogue: 0,0:10:05.52,0:10:07.44,Default,,0000,0000,0000,,companies they believe will have minimal
Dialogue: 0,0:10:07.44,0:10:08.72,Default,,0000,0000,0000,,losses
Dialogue: 0,0:10:08.72,0:10:12.00,Default,,0000,0000,0000,,key considerations for risk heat maps
Dialogue: 0,0:10:12.00,0:10:14.16,Default,,0000,0000,0000,,to develop an effective cyber security
Dialogue: 0,0:10:14.16,0:10:15.28,Default,,0000,0000,0000,,risk heat map
Dialogue: 0,0:10:15.28,0:10:18.56,Default,,0000,0000,0000,,consider these critical elements
Dialogue: 0,0:10:18.56,0:10:20.72,Default,,0000,0000,0000,,what are your most critical systems and
Dialogue: 0,0:10:20.72,0:10:22.32,Default,,0000,0000,0000,,information assets
Dialogue: 0,0:10:22.32,0:10:25.92,Default,,0000,0000,0000,,those you want to map how accurate is
Dialogue: 0,0:10:25.92,0:10:29.20,Default,,0000,0000,0000,,the data and where is it coming from
Dialogue: 0,0:10:29.20,0:10:31.60,Default,,0000,0000,0000,,what is your organization's appetite for
Dialogue: 0,0:10:31.60,0:10:33.36,Default,,0000,0000,0000,,risk
Dialogue: 0,0:10:33.36,0:10:35.36,Default,,0000,0000,0000,,what categories and levels of impact
Dialogue: 0,0:10:35.36,0:10:37.04,Default,,0000,0000,0000,,would be considered material
Dialogue: 0,0:10:37.04,0:10:40.08,Default,,0000,0000,0000,,for example monetary brand reputation
Dialogue: 0,0:10:40.08,0:10:42.96,Default,,0000,0000,0000,,and other related impacts
Dialogue: 0,0:10:42.96,0:10:45.36,Default,,0000,0000,0000,,what is the range of acceptable variance
Dialogue: 0,0:10:45.36,0:10:47.44,Default,,0000,0000,0000,,from your key performance and operating
Dialogue: 0,0:10:47.44,0:10:48.40,Default,,0000,0000,0000,,metrics
Dialogue: 0,0:10:48.40,0:10:51.68,Default,,0000,0000,0000,,and how will you define terms to
Dialogue: 0,0:10:51.68,0:10:53.76,Default,,0000,0000,0000,,integrate potential risk events with
Dialogue: 0,0:10:53.76,0:10:55.20,Default,,0000,0000,0000,,your heat map
Dialogue: 0,0:10:55.20,0:10:58.24,Default,,0000,0000,0000,,how to build a risk map a risk map is
Dialogue: 0,0:10:58.24,0:11:00.08,Default,,0000,0000,0000,,built by plotting the frequency of a
Dialogue: 0,0:11:00.08,0:11:02.24,Default,,0000,0000,0000,,risk on the y-axis of the chart and the
Dialogue: 0,0:11:02.24,0:11:04.48,Default,,0000,0000,0000,,severity on the x-axis
Dialogue: 0,0:11:04.48,0:11:06.64,Default,,0000,0000,0000,,frequency is how likely the risk is or
Dialogue: 0,0:11:06.64,0:11:08.72,Default,,0000,0000,0000,,how often you think it will occur
Dialogue: 0,0:11:08.72,0:11:10.88,Default,,0000,0000,0000,,severity is how much of an impact it
Dialogue: 0,0:11:10.88,0:11:12.48,Default,,0000,0000,0000,,would have if it did happen
Dialogue: 0,0:11:12.48,0:11:14.32,Default,,0000,0000,0000,,the higher risk ranks for these
Dialogue: 0,0:11:14.32,0:11:16.48,Default,,0000,0000,0000,,qualities the more threatening it is to
Dialogue: 0,0:11:16.48,0:11:18.08,Default,,0000,0000,0000,,your organization
Dialogue: 0,0:11:18.08,0:11:20.32,Default,,0000,0000,0000,,let us discuss tips on how to build a
Dialogue: 0,0:11:20.32,0:11:21.76,Default,,0000,0000,0000,,risk map
Dialogue: 0,0:11:21.76,0:11:23.68,Default,,0000,0000,0000,,here are four tips on how to build a
Dialogue: 0,0:11:23.68,0:11:25.20,Default,,0000,0000,0000,,risk map
Dialogue: 0,0:11:25.20,0:11:28.00,Default,,0000,0000,0000,,one involve people from all parts of
Dialogue: 0,0:11:28.00,0:11:29.76,Default,,0000,0000,0000,,your organization
Dialogue: 0,0:11:29.76,0:11:31.68,Default,,0000,0000,0000,,risk mapping is not a process that
Dialogue: 0,0:11:31.68,0:11:34.08,Default,,0000,0000,0000,,should be conducted by one person
Dialogue: 0,0:11:34.08,0:11:36.24,Default,,0000,0000,0000,,every person in your business from the
Dialogue: 0,0:11:36.24,0:11:37.84,Default,,0000,0000,0000,,ceo to the intern
Dialogue: 0,0:11:37.84,0:11:39.68,Default,,0000,0000,0000,,will have different ideas about what
Dialogue: 0,0:11:39.68,0:11:41.60,Default,,0000,0000,0000,,risks are most prevalent to your
Dialogue: 0,0:11:41.60,0:11:44.56,Default,,0000,0000,0000,,industry you cannot involve everyone but
Dialogue: 0,0:11:44.56,0:11:46.64,Default,,0000,0000,0000,,ask multiple people from various
Dialogue: 0,0:11:46.64,0:11:48.72,Default,,0000,0000,0000,,departments and levels of authority to
Dialogue: 0,0:11:48.72,0:11:51.44,Default,,0000,0000,0000,,ensure you are getting unique viewpoints
Dialogue: 0,0:11:51.44,0:11:53.28,Default,,0000,0000,0000,,this will also allow you to discover
Dialogue: 0,0:11:53.28,0:11:55.28,Default,,0000,0000,0000,,risks that you may not have previously
Dialogue: 0,0:11:55.28,0:11:57.52,Default,,0000,0000,0000,,considered and gain new perspectives on
Dialogue: 0,0:11:57.52,0:12:00.80,Default,,0000,0000,0000,,how frequent or severe a risk really is
Dialogue: 0,0:12:00.80,0:12:03.84,Default,,0000,0000,0000,,2. understand each risk
Dialogue: 0,0:12:03.84,0:12:06.08,Default,,0000,0000,0000,,simply naming your risks does not allow
Dialogue: 0,0:12:06.08,0:12:08.56,Default,,0000,0000,0000,,you to build an effective risk map
Dialogue: 0,0:12:08.56,0:12:10.64,Default,,0000,0000,0000,,you must assess each scenario with a
Dialogue: 0,0:12:10.64,0:12:12.56,Default,,0000,0000,0000,,strong understanding of the business and
Dialogue: 0,0:12:12.56,0:12:14.80,Default,,0000,0000,0000,,how the risks can impact your ability to
Dialogue: 0,0:12:14.80,0:12:16.64,Default,,0000,0000,0000,,continue operations
Dialogue: 0,0:12:16.64,0:12:18.64,Default,,0000,0000,0000,,think about what is likely to cause the
Dialogue: 0,0:12:18.64,0:12:20.40,Default,,0000,0000,0000,,risk and the consequences it will have
Dialogue: 0,0:12:20.40,0:12:21.84,Default,,0000,0000,0000,,if it occurs
Dialogue: 0,0:12:21.84,0:12:24.08,Default,,0000,0000,0000,,it is also important to be consistent in
Dialogue: 0,0:12:24.08,0:12:26.24,Default,,0000,0000,0000,,how you rank each risk in terms of
Dialogue: 0,0:12:26.24,0:12:28.56,Default,,0000,0000,0000,,frequency and severity so that the final
Dialogue: 0,0:12:28.56,0:12:30.64,Default,,0000,0000,0000,,product is a clear depiction of how the
Dialogue: 0,0:12:30.64,0:12:32.88,Default,,0000,0000,0000,,risks compare to each other
Dialogue: 0,0:12:32.88,0:12:36.72,Default,,0000,0000,0000,,3. seek guidance if consulting those
Dialogue: 0,0:12:36.72,0:12:39.12,Default,,0000,0000,0000,,within your organization isn't providing
Dialogue: 0,0:12:39.12,0:12:40.96,Default,,0000,0000,0000,,a sufficient understanding
Dialogue: 0,0:12:40.96,0:12:43.60,Default,,0000,0000,0000,,look elsewhere you can try to determine
Dialogue: 0,0:12:43.60,0:12:45.84,Default,,0000,0000,0000,,how likely and impactful a risk will be
Dialogue: 0,0:12:45.84,0:12:48.56,Default,,0000,0000,0000,,based on your experience and past losses
Dialogue: 0,0:12:48.56,0:12:51.04,Default,,0000,0000,0000,,but what if you're a startup company you
Dialogue: 0,0:12:51.04,0:12:52.40,Default,,0000,0000,0000,,can ask an expert
Dialogue: 0,0:12:52.40,0:12:54.48,Default,,0000,0000,0000,,many insurance providers are able to
Dialogue: 0,0:12:54.48,0:12:56.80,Default,,0000,0000,0000,,assist with risk management tools
Dialogue: 0,0:12:56.80,0:12:59.28,Default,,0000,0000,0000,,and if not they can like why suggest
Dialogue: 0,0:12:59.28,0:13:00.64,Default,,0000,0000,0000,,someone who can
Dialogue: 0,0:13:00.64,0:13:02.24,Default,,0000,0000,0000,,you can also look at similar
Dialogue: 0,0:13:02.24,0:13:04.72,Default,,0000,0000,0000,,organizations and industry statistics to
Dialogue: 0,0:13:04.72,0:13:07.28,Default,,0000,0000,0000,,help guide your risk ranking
Dialogue: 0,0:13:07.28,0:13:10.32,Default,,0000,0000,0000,,4. revisit and modify
Dialogue: 0,0:13:10.32,0:13:12.16,Default,,0000,0000,0000,,you've built your risk map and are now
Dialogue: 0,0:13:12.16,0:13:14.64,Default,,0000,0000,0000,,using it to help manage and mitigate
Dialogue: 0,0:13:14.64,0:13:17.04,Default,,0000,0000,0000,,great but it's important to remember
Dialogue: 0,0:13:17.04,0:13:19.36,Default,,0000,0000,0000,,that your risk landscape is constantly
Dialogue: 0,0:13:19.36,0:13:20.40,Default,,0000,0000,0000,,changing
Dialogue: 0,0:13:20.40,0:13:22.32,Default,,0000,0000,0000,,revisit your rankings with the risk
Dialogue: 0,0:13:22.32,0:13:23.84,Default,,0000,0000,0000,,management team at least
Dialogue: 0,0:13:23.84,0:13:26.24,Default,,0000,0000,0000,,quarterly to discuss if the status of
Dialogue: 0,0:13:26.24,0:13:28.80,Default,,0000,0000,0000,,any existing risks has changed or if any
Dialogue: 0,0:13:28.80,0:13:31.36,Default,,0000,0000,0000,,new risks should be placed on the map
Dialogue: 0,0:13:31.36,0:13:33.76,Default,,0000,0000,0000,,doing so will ensure that your risk map
Dialogue: 0,0:13:33.76,0:13:35.92,Default,,0000,0000,0000,,is a consistently helpful tool that will
Dialogue: 0,0:13:35.92,0:13:36.96,Default,,0000,0000,0000,,help you reduce
Dialogue: 0,0:13:36.96,0:13:40.40,Default,,0000,0000,0000,,incidents and costs major ways to use
Dialogue: 0,0:13:40.40,0:13:43.52,Default,,0000,0000,0000,,risk heat maps by organizations
Dialogue: 0,0:13:43.52,0:13:45.52,Default,,0000,0000,0000,,where charts have to be interpreted and
Dialogue: 0,0:13:45.52,0:13:47.20,Default,,0000,0000,0000,,tables have to be understood
Dialogue: 0,0:13:47.20,0:13:49.28,Default,,0000,0000,0000,,heat maps are self-explanatory and
Dialogue: 0,0:13:49.28,0:13:50.48,Default,,0000,0000,0000,,intuitive
Dialogue: 0,0:13:50.48,0:13:52.24,Default,,0000,0000,0000,,because they are tailor-made for putting
Dialogue: 0,0:13:52.24,0:13:54.72,Default,,0000,0000,0000,,massive data sets into a context that's
Dialogue: 0,0:13:54.72,0:13:56.24,Default,,0000,0000,0000,,easy to understand
Dialogue: 0,0:13:56.24,0:13:58.08,Default,,0000,0000,0000,,they are increasingly valued as a
Dialogue: 0,0:13:58.08,0:14:00.48,Default,,0000,0000,0000,,superior data visualization tool in
Dialogue: 0,0:14:00.48,0:14:02.96,Default,,0000,0000,0000,,cyber security for identifying
Dialogue: 0,0:14:02.96,0:14:06.16,Default,,0000,0000,0000,,prioritizing and mitigating risks
Dialogue: 0,0:14:06.16,0:14:08.56,Default,,0000,0000,0000,,here are three major ways to use risk
Dialogue: 0,0:14:08.56,0:14:09.60,Default,,0000,0000,0000,,heat maps by
Dialogue: 0,0:14:09.60,0:14:13.76,Default,,0000,0000,0000,,organizations 1. risk impact heat map to
Dialogue: 0,0:14:13.76,0:14:15.52,Default,,0000,0000,0000,,show the likelihood of a risk event
Dialogue: 0,0:14:15.52,0:14:16.00,Default,,0000,0000,0000,,happening
Dialogue: 0,0:14:16.00,0:14:18.08,Default,,0000,0000,0000,,versus business impact of such that
Dialogue: 0,0:14:18.08,0:14:19.36,Default,,0000,0000,0000,,event
Dialogue: 0,0:14:19.36,0:14:21.68,Default,,0000,0000,0000,,risk is the product of breach likelihood
Dialogue: 0,0:14:21.68,0:14:23.28,Default,,0000,0000,0000,,and breach impact
Dialogue: 0,0:14:23.28,0:14:25.76,Default,,0000,0000,0000,,in this type of heat map the horizontal
Dialogue: 0,0:14:25.76,0:14:28.00,Default,,0000,0000,0000,,axis shows the likelihood of a cyber
Dialogue: 0,0:14:28.00,0:14:29.52,Default,,0000,0000,0000,,security breach
Dialogue: 0,0:14:29.52,0:14:31.84,Default,,0000,0000,0000,,the vertical axis shows the business
Dialogue: 0,0:14:31.84,0:14:33.44,Default,,0000,0000,0000,,impact of a breach
Dialogue: 0,0:14:33.44,0:14:36.32,Default,,0000,0000,0000,,the colors are as scary as for example
Dialogue: 0,0:14:36.32,0:14:38.56,Default,,0000,0000,0000,,green colored boxes indicate no
Dialogue: 0,0:14:38.56,0:14:40.96,Default,,0000,0000,0000,,action needed and red boxes indicating
Dialogue: 0,0:14:40.96,0:14:42.64,Default,,0000,0000,0000,,immediate action needed
Dialogue: 0,0:14:42.64,0:14:44.64,Default,,0000,0000,0000,,the individual risk items are then
Dialogue: 0,0:14:44.64,0:14:46.64,Default,,0000,0000,0000,,plotted on the heat map based upon the
Dialogue: 0,0:14:46.64,0:14:48.80,Default,,0000,0000,0000,,business impact and likelihood of breach
Dialogue: 0,0:14:48.80,0:14:49.76,Default,,0000,0000,0000,,happening
Dialogue: 0,0:14:49.76,0:14:52.40,Default,,0000,0000,0000,,this can be computed as follows risk is
Dialogue: 0,0:14:52.40,0:14:56.00,Default,,0000,0000,0000,,equal to impact multiplied by likelihood
Dialogue: 0,0:14:56.00,0:14:58.80,Default,,0000,0000,0000,,2. comparing breach likelihood across
Dialogue: 0,0:14:58.80,0:14:59.76,Default,,0000,0000,0000,,different business
Dialogue: 0,0:14:59.76,0:15:02.96,Default,,0000,0000,0000,,areas risk heat maps can be used by an
Dialogue: 0,0:15:02.96,0:15:04.96,Default,,0000,0000,0000,,organization to comparing breach
Dialogue: 0,0:15:04.96,0:15:06.88,Default,,0000,0000,0000,,likelihood across different business
Dialogue: 0,0:15:06.88,0:15:07.84,Default,,0000,0000,0000,,areas
Dialogue: 0,0:15:07.84,0:15:10.32,Default,,0000,0000,0000,,here is an example of a heat map that it
Dialogue: 0,0:15:10.32,0:15:12.40,Default,,0000,0000,0000,,can use to compare breach likelihood
Dialogue: 0,0:15:12.40,0:15:13.20,Default,,0000,0000,0000,,across different
Dialogue: 0,0:15:13.20,0:15:16.00,Default,,0000,0000,0000,,areas or groups such charts can be
Dialogue: 0,0:15:16.00,0:15:18.08,Default,,0000,0000,0000,,created for multiple types of risk
Dialogue: 0,0:15:18.08,0:15:18.64,Default,,0000,0000,0000,,groups
Dialogue: 0,0:15:18.64,0:15:22.32,Default,,0000,0000,0000,,asset types locations business units
Dialogue: 0,0:15:22.32,0:15:25.68,Default,,0000,0000,0000,,and more 3. mapping information
Dialogue: 0,0:15:25.68,0:15:26.56,Default,,0000,0000,0000,,technology
Dialogue: 0,0:15:26.56,0:15:29.20,Default,,0000,0000,0000,,i t asset inventory by type and risk
Dialogue: 0,0:15:29.20,0:15:32.32,Default,,0000,0000,0000,,associated with each of those categories
Dialogue: 0,0:15:32.32,0:15:34.32,Default,,0000,0000,0000,,risk heat maps can be used by an
Dialogue: 0,0:15:34.32,0:15:35.92,Default,,0000,0000,0000,,organization for mapping i.t
Dialogue: 0,0:15:35.92,0:15:38.48,Default,,0000,0000,0000,,asset inventory based on the type of it
Dialogue: 0,0:15:38.48,0:15:40.88,Default,,0000,0000,0000,,asset inventory and risk associated with
Dialogue: 0,0:15:40.88,0:15:42.72,Default,,0000,0000,0000,,each of those categories
Dialogue: 0,0:15:42.72,0:15:45.28,Default,,0000,0000,0000,,here is an example of a heat map that it
Dialogue: 0,0:15:45.28,0:15:46.64,Default,,0000,0000,0000,,can use to map i.t
Dialogue: 0,0:15:46.64,0:15:48.64,Default,,0000,0000,0000,,asset inventory by type and risk
Dialogue: 0,0:15:48.64,0:15:51.76,Default,,0000,0000,0000,,associated with each of those categories
Dialogue: 0,0:15:51.76,0:15:54.64,Default,,0000,0000,0000,,how to create or build a risk map for
Dialogue: 0,0:15:54.64,0:15:56.40,Default,,0000,0000,0000,,the heat map to be insightful and
Dialogue: 0,0:15:56.40,0:15:57.44,Default,,0000,0000,0000,,comprehensive
Dialogue: 0,0:15:57.44,0:15:59.92,Default,,0000,0000,0000,,it should be created using accurate and
Dialogue: 0,0:15:59.92,0:16:01.52,Default,,0000,0000,0000,,complete information
Dialogue: 0,0:16:01.52,0:16:03.84,Default,,0000,0000,0000,,identification of inherent risks is the
Dialogue: 0,0:16:03.84,0:16:06.48,Default,,0000,0000,0000,,first step in creating a risk map
Dialogue: 0,0:16:06.48,0:16:08.72,Default,,0000,0000,0000,,risks can be broadly categorized into
Dialogue: 0,0:16:08.72,0:16:10.08,Default,,0000,0000,0000,,strategic risk
Dialogue: 0,0:16:10.08,0:16:12.88,Default,,0000,0000,0000,,compliance risk operational risk
Dialogue: 0,0:16:12.88,0:16:15.52,Default,,0000,0000,0000,,financial risk and reputational risk
Dialogue: 0,0:16:15.52,0:16:17.84,Default,,0000,0000,0000,,but organizations should aim to chart
Dialogue: 0,0:16:17.84,0:16:19.52,Default,,0000,0000,0000,,their own lists by taking into
Dialogue: 0,0:16:19.52,0:16:21.84,Default,,0000,0000,0000,,consideration specific factors that
Dialogue: 0,0:16:21.84,0:16:23.76,Default,,0000,0000,0000,,might affect them financially
Dialogue: 0,0:16:23.76,0:16:26.48,Default,,0000,0000,0000,,once the risks have been identified it
Dialogue: 0,0:16:26.48,0:16:28.72,Default,,0000,0000,0000,,is necessary to understand what kind of
Dialogue: 0,0:16:28.72,0:16:31.04,Default,,0000,0000,0000,,internal or external events are driving
Dialogue: 0,0:16:31.04,0:16:32.24,Default,,0000,0000,0000,,the risks
Dialogue: 0,0:16:32.24,0:16:34.08,Default,,0000,0000,0000,,the next step in risk mapping is
Dialogue: 0,0:16:34.08,0:16:36.80,Default,,0000,0000,0000,,evaluating the risks estimating the
Dialogue: 0,0:16:36.80,0:16:37.68,Default,,0000,0000,0000,,frequency
Dialogue: 0,0:16:37.68,0:16:39.52,Default,,0000,0000,0000,,the potential impact and possible
Dialogue: 0,0:16:39.52,0:16:42.48,Default,,0000,0000,0000,,control processes to offset the risks
Dialogue: 0,0:16:42.48,0:16:45.28,Default,,0000,0000,0000,,the risks should then be prioritized the
Dialogue: 0,0:16:45.28,0:16:47.68,Default,,0000,0000,0000,,most impactful risks can be managed by
Dialogue: 0,0:16:47.68,0:16:49.84,Default,,0000,0000,0000,,applying control processes to help
Dialogue: 0,0:16:49.84,0:16:52.08,Default,,0000,0000,0000,,lessen their potential occurrence
Dialogue: 0,0:16:52.08,0:16:54.16,Default,,0000,0000,0000,,as threats evolve and vulnerabilities
Dialogue: 0,0:16:54.16,0:16:57.04,Default,,0000,0000,0000,,change a risk map must be re-evaluated
Dialogue: 0,0:16:57.04,0:16:58.32,Default,,0000,0000,0000,,periodically
Dialogue: 0,0:16:58.32,0:17:00.56,Default,,0000,0000,0000,,organizations also must review their
Dialogue: 0,0:17:00.56,0:17:03.12,Default,,0000,0000,0000,,risk maps regularly to ensure key risks
Dialogue: 0,0:17:03.12,0:17:04.08,Default,,0000,0000,0000,,are being managed
Dialogue: 0,0:17:04.08,0:17:07.20,Default,,0000,0000,0000,,effectively for example let us briefly
Dialogue: 0,0:17:07.20,0:17:09.36,Default,,0000,0000,0000,,consider how a firm can build a cyber
Dialogue: 0,0:17:09.36,0:17:10.80,Default,,0000,0000,0000,,risk heat map
Dialogue: 0,0:17:10.80,0:17:13.04,Default,,0000,0000,0000,,cyber security heat maps involve an
Dialogue: 0,0:17:13.04,0:17:14.96,Default,,0000,0000,0000,,extensive and disciplined assessment
Dialogue: 0,0:17:14.96,0:17:16.40,Default,,0000,0000,0000,,process at the back end
Dialogue: 0,0:17:16.40,0:17:17.84,Default,,0000,0000,0000,,in order to present a simple
Dialogue: 0,0:17:17.84,0:17:20.16,Default,,0000,0000,0000,,visualization of risks and recommended
Dialogue: 0,0:17:20.16,0:17:22.00,Default,,0000,0000,0000,,actions at the front end
Dialogue: 0,0:17:22.00,0:17:24.08,Default,,0000,0000,0000,,the heat map is an essential and useful
Dialogue: 0,0:17:24.08,0:17:26.56,Default,,0000,0000,0000,,output of your overall cyber security
Dialogue: 0,0:17:26.56,0:17:28.96,Default,,0000,0000,0000,,assessment and vulnerability management
Dialogue: 0,0:17:28.96,0:17:31.76,Default,,0000,0000,0000,,process with a rapidly increasing attack
Dialogue: 0,0:17:31.76,0:17:32.48,Default,,0000,0000,0000,,surface
Dialogue: 0,0:17:32.48,0:17:34.80,Default,,0000,0000,0000,,the first step is to accurately measure
Dialogue: 0,0:17:34.80,0:17:37.12,Default,,0000,0000,0000,,a cyber risk attack surface
Dialogue: 0,0:17:37.12,0:17:39.36,Default,,0000,0000,0000,,this means getting complete visibility
Dialogue: 0,0:17:39.36,0:17:40.64,Default,,0000,0000,0000,,into all your i.t
Dialogue: 0,0:17:40.64,0:17:44.00,Default,,0000,0000,0000,,assets devices apps and users
Dialogue: 0,0:17:44.00,0:17:46.08,Default,,0000,0000,0000,,and then continuously monitoring them
Dialogue: 0,0:17:46.08,0:17:48.56,Default,,0000,0000,0000,,across all 200 plus attack vectors in
Dialogue: 0,0:17:48.56,0:17:50.40,Default,,0000,0000,0000,,adversaries arsenals
Dialogue: 0,0:17:50.40,0:17:53.36,Default,,0000,0000,0000,,the company therefore need to regularly
Dialogue: 0,0:17:53.36,0:17:56.00,Default,,0000,0000,0000,,analyze the observations to derive risk
Dialogue: 0,0:17:56.00,0:17:57.12,Default,,0000,0000,0000,,insights
Dialogue: 0,0:17:57.12,0:17:58.96,Default,,0000,0000,0000,,this is a layered calculation that
Dialogue: 0,0:17:58.96,0:18:01.36,Default,,0000,0000,0000,,involves incorporating information about
Dialogue: 0,0:18:01.36,0:18:03.92,Default,,0000,0000,0000,,threats vulnerabilities mitigating
Dialogue: 0,0:18:03.92,0:18:04.72,Default,,0000,0000,0000,,actions
Dialogue: 0,0:18:04.72,0:18:07.84,Default,,0000,0000,0000,,business criticality impact elasticity
Dialogue: 0,0:18:07.84,0:18:11.04,Default,,0000,0000,0000,,and time to repair conclusion
Dialogue: 0,0:18:11.04,0:18:13.20,Default,,0000,0000,0000,,risk mapping in risk management has been
Dialogue: 0,0:18:13.20,0:18:15.04,Default,,0000,0000,0000,,discussed in this video
Dialogue: 0,0:18:15.04,0:18:17.60,Default,,0000,0000,0000,,a risk map or risk heat map is a
Dialogue: 0,0:18:17.60,0:18:19.84,Default,,0000,0000,0000,,graphical representation of cyber risk
Dialogue: 0,0:18:19.84,0:18:21.76,Default,,0000,0000,0000,,data where the individual values
Dialogue: 0,0:18:21.76,0:18:23.92,Default,,0000,0000,0000,,contained in a matrix are represented as
Dialogue: 0,0:18:23.92,0:18:25.76,Default,,0000,0000,0000,,colors that connote meaning
Dialogue: 0,0:18:25.76,0:18:28.24,Default,,0000,0000,0000,,risk heat maps are used to present cyber
Dialogue: 0,0:18:28.24,0:18:30.04,Default,,0000,0000,0000,,risk assessment results in an
Dialogue: 0,0:18:30.04,0:18:31.44,Default,,0000,0000,0000,,easy-to-understand
Dialogue: 0,0:18:31.44,0:18:34.16,Default,,0000,0000,0000,,visually attractive and concise format
Dialogue: 0,0:18:34.16,0:18:36.72,Default,,0000,0000,0000,,risk maps can be used by an organization
Dialogue: 0,0:18:36.72,0:18:39.36,Default,,0000,0000,0000,,to improve its risk management culture
Dialogue: 0,0:18:39.36,0:18:42.00,Default,,0000,0000,0000,,risk maps can therefore assist to
Dialogue: 0,0:18:42.00,0:18:44.48,Default,,0000,0000,0000,,enhance understanding and prioritization
Dialogue: 0,0:18:44.48,0:18:46.96,Default,,0000,0000,0000,,of a firm's risk management system
Dialogue: 0,0:18:46.96,0:18:49.20,Default,,0000,0000,0000,,in short heat maps present a very
Dialogue: 0,0:18:49.20,0:18:51.52,Default,,0000,0000,0000,,complex set of facts in an easily
Dialogue: 0,0:18:51.52,0:18:53.12,Default,,0000,0000,0000,,digestible way
Dialogue: 0,0:18:53.12,0:18:55.44,Default,,0000,0000,0000,,this helps organizations to enhance
Dialogue: 0,0:18:55.44,0:18:56.24,Default,,0000,0000,0000,,their resilience
Dialogue: 0,0:18:56.24,0:18:58.08,Default,,0000,0000,0000,,in the highly challenging business
Dialogue: 0,0:18:58.08,0:18:59.60,Default,,0000,0000,0000,,environment
Dialogue: 0,0:18:59.60,0:19:01.28,Default,,0000,0000,0000,,hope the video is educative and
Dialogue: 0,0:19:01.28,0:19:02.80,Default,,0000,0000,0000,,beneficial to you
Dialogue: 0,0:19:02.80,0:19:05.04,Default,,0000,0000,0000,,which aspect of the risk mapping in risk
Dialogue: 0,0:19:05.04,0:19:07.12,Default,,0000,0000,0000,,management discussed in this video do
Dialogue: 0,0:19:07.12,0:19:09.12,Default,,0000,0000,0000,,you consider to be more relevant in your
Dialogue: 0,0:19:09.12,0:19:10.40,Default,,0000,0000,0000,,organization
Dialogue: 0,0:19:10.40,0:19:12.64,Default,,0000,0000,0000,,please post your answer to this question
Dialogue: 0,0:19:12.64,0:19:14.56,Default,,0000,0000,0000,,in the comment section below
Dialogue: 0,0:19:14.56,0:19:16.56,Default,,0000,0000,0000,,if this video has been helpful and
Dialogue: 0,0:19:16.56,0:19:17.92,Default,,0000,0000,0000,,beneficial to you
Dialogue: 0,0:19:17.92,0:19:20.00,Default,,0000,0000,0000,,then give it a thumbs up and share it
Dialogue: 0,0:19:20.00,0:19:21.52,Default,,0000,0000,0000,,with your friends
Dialogue: 0,0:19:21.52,0:19:23.20,Default,,0000,0000,0000,,thank you for watching the risk
Dialogue: 0,0:19:23.20,0:19:25.52,Default,,0000,0000,0000,,management of everything videos
Dialogue: 0,0:19:25.52,0:19:28.48,Default,,0000,0000,0000,,we love to hear from you p please post
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Dialogue: 0,0:19:29.44,0:19:31.52,Default,,0000,0000,0000,,questions in the comment section down
Dialogue: 0,0:19:31.52,0:19:33.60,Default,,0000,0000,0000,,below if you are new here
Dialogue: 0,0:19:33.60,0:19:36.00,Default,,0000,0000,0000,,please subscribe to our channel risk
Dialogue: 0,0:19:36.00,0:19:37.36,Default,,0000,0000,0000,,management of everything
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Dialogue: 0,0:19:43.04,0:19:45.68,Default,,0000,0000,0000,,thank you