Deciphering Risk Management and Compliance with Michael Magyar

This is a podcast episode titled, Deciphering Risk Management and Compliance with Michael Magyar. The summary for this episode is: <p>“Not only do we need to understand what risks might exist, but we need to understand what impact that might have. That goes into both the chance that they're going to happen and the chance that they're going to be successful in creating damage, and then also the likely damage that's going to happen from them.” - Michael Magyar</p><p>On this week’s episode, host Jara Rowe gets the tea on risk management with Trava’s vCISO consultant, Michael Magyar. Hear what risk management is, how it differs from crisis management, and what considerations fall under each to maintain compliance.&nbsp;</p><p><br></p><p>This episode serves as a comprehensive guide for listeners looking to gain a better understanding of risk management, compliance, and general cybersecurity practices. Michael encourages a proactive approach to risk assessment and management to enhance organizational cybersecurity with actionable advice.&nbsp;</p><p><br></p><p>What you’re learn:</p><ul><li>Why risk management is proactive and crisis management is reactive, and how to approach both from a preparation standpoint.</li><li>What components of risk management realistically fall under compliance, and why understanding this helps you mitigate potential risk.</li><li>How to start small with risk assessment to identify possible risks and how they might impact your business to build a foundation for effective risk management and cybersecurity practices.&nbsp;</li></ul><p><br></p><p>Things to listen for:</p><p>[02:57 - 03:28] Explanation of risk as exposure to danger, harm, or loss</p><p>[05:45 - 06:53] The importance of risk management for businesses</p><p>[06:59 - 07:54] Comparison of risk management and crisis management</p><p>[08:14 - 10:00] Key components of being proactive in cybersecurity</p><p>[10:07 - 12:27] The role of risk management in compliance efforts</p><p>[12:37 - 14:38] Challenges and tips in aligning risk management with compliance standards</p><p>[15:17 - 17:47] Michael's advice for organizations and general cybersecurity</p><p>[17:55 - 20:32] Jara’s receipts</p><p><br></p><p><strong>Resources:</strong></p><p><a href="https://travasecurity.com/learn-with-trava/blog/how-to-choose-the-right-cyber-risk-management-solution-provider?utm_source=casted&amp;utm_medium=podcast&amp;utm_campaign=thetea" rel="noopener noreferrer" target="_blank">How to Choose the Right Cyber Risk Management Solution Provider</a></p><p><a href="https://travasecurity.com/learn-with-trava/blog/what-is-risk-management?utm_source=casted&amp;utm_medium=podcast&amp;utm_campaign=thetea" rel="noopener noreferrer" target="_blank">What is Risk Management?</a></p><p><br></p><p><strong>Connect with the host:</strong></p><p><a href="https://www.linkedin.com/in/jararowe/" rel="noopener noreferrer" target="_blank">Jara Rowe’s LinkedIn</a></p><p><br></p><p><strong>Connect with Trava:</strong></p><p>Website <a href="http://www.travasecurity.com/?utm_source=casted&amp;utm_medium=podcast&amp;utm_campaign=podcast_share" rel="noopener noreferrer" target="_blank">www.travasecurity.com&nbsp;</a></p><p>Blog <a href="https://travasecurity.com/learn-with-trava/blog?utm_source=casted&amp;utm_medium=podcast&amp;utm_campaign=podcast_share" rel="noopener noreferrer" target="_blank">www.travasecurity.com/blog</a></p><p>LinkedIn <a href="https://www.linkedin.com/company/travasecurity/?utm_source=casted&amp;utm_medium=podcast&amp;utm_campaign=podcast_share" rel="noopener noreferrer" target="_blank">@travasecurity</a></p><p>YouTube <a href="https://www.youtube.com/@travasecurity?utm_source=casted&amp;utm_medium=podcast&amp;utm_campaign=podcast_share" rel="noopener noreferrer" target="_blank">@travasecurity</a></p>