Cyber risk – managing the critical challenges facing treasurers
Cyber risk is an increasingly real and current threat for businesses. Its consequences reach far beyond local IT or fraud issues, potentially impacting the liquidity and capital position, reputational risk and jeopardising customers and suppliers. Managing the risk is about protection and recovery. Your approach to each will impact across core business and revenue streams.
Corporate Treasurers need to consider a range of systemic issues attributed to cyber risk including:
- IP and operational loss
- loss of business confidence and trust
- third party risk and impact on the supply chain
- account hacks, with many parties involved
- risks associated with outsourcing treasury systems.
This webinar addresses some of the key issues surrounding cyber risk and included:
- balance sheet resilience
- response/recovery planning and modelling liquidity risk and capital impacts
- supply chain risk and second order risk – the strength throughout the chain
- large impact issues – for example if a large size payment is misdirected and having a banking solution in place to address this.
Donwload the slides here.
Nick is a Managing Director, and Head of Global Corporates Structural & Regulatory Solutions at Lloyds Bank. Previously he led the Strategic Liquidity Solutions Group in Financial Markets, which provides corporate clients with advice and solutions for their overall liquidity needs. He has been with Lloyds Bank for nine years and held a variety of prior roles, including managing Rate and FX sales teams, covering both corporate and institutional clients. Nick has more than 25 years’ experience in banking in both sales and trading roles at Nomura, III Global, and Bank of America.
As a partner and the Resilience and Crisis Management leader of Deloitte UK, Rick has over 25 years’ experience in resilience and crisis management. He has helped many global organisations define and design their crisis management framework and has run advanced simulations and war games across many industry sectors to enable them to be more crisis ready. Rick also has real-crisis experience, providing direct executive support through crisis events on multiple occasions.
Michelle joined the ACT Policy & Technical team after 14 years in corporate treasury consulting at Deloitte. During this time she advised both large and small companies on a wide range of treasury areas including treasury restructuring, development of FX policies, management reporting and operational risk. Prior to joining Deloitte she worked in a number of large investment banks, including J.P. Morgan, SBC Warburg and Chase Manhattan. Michelle qualified as a Chartered Accountant with Arthur Andersen in Australia and is an associate member of the ACT.
Giles has held senior Cyber/Information Security positions in Retail & Investment Banking, Insurance and Consulting. He is currently the Head of Data and Cyber Security for Lloyds Bank Commercial Banking, having joined from Deloitte where he led their Cyber practice for Banking and Securities. Giles focuses on bridging the gap between the front line business, operational risk, IT, and the financial risks of cyber.