Gary Bahadur

CEO, Founder

Razient LLC

http://razient.com/

Gary is the founder of KRAA Security LLCand Razient LLC with over 15 years experience in the information security and technology industry helping companies withRisk Assessment Services, Social Media Security and Government Compliance Services. Gary was the cofounder and CIO of Foundstone Inc a $20M security vulnerability that was sold to McAfee in 2004.

He was also a Senior Vice President of Bank of America, President and cofounder of Ether2 Corporation, a Manager at Ernst & Young and Senior Security Consultant at Price Waterhouse.

Gary is an accomplished author. He has published 3 books, “Privacy Defended: Protecting Yourself Online”, Que Publishing, “Windows XP Professional Security”, Osborne McGraw-Hill, “Securing the Clicks” from McGraw-Hill.

Garyhas written articles for a number of magazines and is a frequent speaker at Information Security and Social Media conferences.

We all know that accidents happen and we have to deal with the consequences, but a series of unfortunate events and their consequences can be devastating to businesses both large and small. Essentially, managing risks in an incident-prone world is all about understanding the risks, monitoring them closely and having a good back-up plan for when things go wrong. Sound contingency plans are a must to avoid disaster and may even result in a positive spin if implemented in the right way by experienced specialists. Risk management has mathematical roots dating back to the 17th century that led to people being able to predict the likelihood of future happenings using numbers. Until recent years, insurance was the staple of risk management, but it wasn’t enough; a reliable method of prevention was required.

The authors of the 2002 A Risk Management Standard paper noted that in order to be effective, risks needed to be part of the culture because, “Risk identification sets out to identify an organization’s exposure to uncertainty.” But that is not all; an article in smallbusniessnotes.com noted “A good risk management system is a continuous process of analysis and communication.”  Potential problems include prioritization of risk management, lack of commitment at the executive level and insufficient funds to provide training. It is also difficult to create one format that suits all because all businesses, regardless of size, will be exposed to different risk factors. Global corporations and mega projects need risk management to anticipate significant disruption from the effects of political turmoil, extreme weather or rapid changes in financial markets. Risk communication, sometimes known as crisis communication, is an essential tool for all businesses and may result in positive publicity. An article in deloitte.com suggests you should stay ahead of the game, “Companies are increasingly disclosing their risk oversight practices to shareholders in response to regulation and to increasing shareholder interest in boards’ risk governance practices.” This is good advice in a risk-prone world. To turn risk into an advantage for your company, consider the following. Face the realities of how global incidents affect your business. Use smart risk planning to prepare for the expected and unexpected. Monitor for risks that affect your business. Act fast to mitigate the effects of incidents on your business. Lastly, create advantage from what seems like disaster. There is often a way to turn the negative into a positive.