The ALS Group Risk Management Articles

Enterprise Risk Management (ERM) concepts can help retailers create a competitive advantage out of the business of managing risk. ERM’s “portfolio view” collects all risk and mitigation activity into a single Risk Register. This enables management to coordinate mitigation efforts across functions, rather than leaving risk to be managed in a patchwork fashion among various pockets in the organization. These are the critical areas for retail organizations where embracing an ERM approach adds value and opportunities that would likely otherwise be “missed:”

It doesn’t take a cyber risk expert to realize that the retail industry is a prime target for hackers, and that some of retail’s most iconic brands have made front-page, breaking news when it comes to millions of lost or stolen data records. Primary Cardholder Information (PCI) is extremely valuable amongst those on the “Darknet,” once described by PC Magazine as “the hidden, anonymous underbelly of the searchable Web.” Since larger retailers handle these records in the hundreds of thousands to millions, hackers are looking for any entry point into their networks to extract credit card and customer account data.