Tag: Cyber risk

  • OCBC Targets 200 Homegrown Cyber Risk and Security Staff

    OCBC Targets 200 Homegrown Cyber Risk and Security Staff

    OCBC is partnering with Temasek Polytechnic in an effort to train up to 200 employees to become cyber risk analysts and cybersecurity specialists in the next three years.

    The bank and higher education institution will launch a cyber certification program focused on four main areas: digital services and solutions, software development, risk and assurance, and security operations and monitoring. OCBC collaboration with lecturers of Temasek Poly’s School of Informatics and IT will also cover subject matters such as risk management, audit, and cybersecurity.

    At OCBC, we strongly believe that people will be the most important line of defense against potential threats, said Vincent Choo, OCBC’s head of group risk management. The bank takes great efforts to ensure that our people are aware of and trained to deal with existing and emerging risks.

    The certification is part of OCBC’s Future Smart program, a $20 million initiative to upgrade internal talent. In July 2019, OCBC also partnered with Ngee Ann Polytechnic to create a data certification program to train 200 data science and analysts over the next three years in order to double the number of such talents.

  • Cyber risk in retail: protecting the retail business to secure tomorrow’s growth

    Cyber risk in retail: protecting the retail business to secure tomorrow’s growth

    Years 2013 and 2014 saw an unprecedented level of cyber assault on retailers. Several major breaches hit the headlines and retailers reported tens of millions of customer data and credit card records exposed. Despite widespread attention to payment card industry (PCI) compliance, cyber criminals have clearly taken retailers by surprise.

    Due to the frequency and impact of recent cyber attacks targeting retailers, Deloitte undertook efforts to gather information and facilitate practical dialogue on the issue of cyber risk. The report, Cyber risk in retail: protecting the retail business to secure tomorrow’s growth, summarizes key issues facing retailers:

    • Compliance does not always equal risk management
    • Breach response readiness is top of mind as companies scramble to shore up detection
    • External intelligence will play a crucial role in the war against cyber threats
    • Cyber risk is a business issue

    It also outlines actions that retail organizations can take near term to mitigate cybersecurity risk, and concludes with a set of issues that call for future research, dialogue, and collaboration.

    To download the report, click here.