Intro Cyber Risk in Manuf/Ind Processes

2 Days | 1.4 CEUs

OVERVIEW

According to IBM, Manufacturing ranks fifth among industries most frequently targeted for cyber-attacks. It outranks Government and Healthcare and is nearly tied with Retail. Manufacturing operations from supply chain to production control and fulfillment increasingly rely networks and automated control system. This elevates exposure to cyber-related loss that can significantly impact a manufacturer. This is an introductory level course. You will learn the fundamentals of cyber risk, how it affects manufacturing, and basic strategies for reducing your exposure. The course format is a combination of lecture, interactive discussion and exercises. No advance preparation is required.

WHAT YOU WILL LEARN

  • Assess cyber [and other] risk inherent in your business.
  • Surface risk you assume in vendor and other external relationships.
  • Identify & prioritize basic risk mitigation for efficient use of capital and resources.
  • Make informed decisions on cyber risk retention vs. risk transfer.
  • Find help before and after a loss.

COURSE CONTENT

  • Basic concepts, definitions and terminology
    • Exposure
    • Risk
    • First party and third-party loss
    • Cyber risk
    • Vulnerability
    • Threat
    • Kinds of loss 
  • Cyber risk Impact
    • Who is at risk
    • How big is the risk 
    • What numbers don’t tell us
    • Basic threat economics concepts

  • How manufacturing operations create exposure.Part I of II, inherent risk in core operations 
    • Chain of commerce and supply chain
    • Inventory management and material supply
    • Industrial and product design
    • Production control
    • SCADA and IoT
    • Delivery, distribution and fulfillment
    • Defects and delays
    • Back office, business process and reliance on data
    • The human element

  • How Manufacturing operations create exposure, Part II of II.Other exposures
    • Cloud services and other dependencies
    • Public infrastructure
    • Regulatory
    • Contractual
    • Threat actors, types and motivation
    • Multinational operations
    • Intellectual property, yours and others 
    • Counterfeiting and brand dilution
    • Media
    • Marketing and communication
    • Crypto-jacking and other forms of resource theft

  • Emerging trends in the dynamic cyber threat environment.
    • Overview of recent studies ( ca 2018, 2017) on cyber threat trends.

 

  • Risk mitigation and how making informed choices affects quality and cost                  
    • Risk control frameworks and standards of care, an insurer’s perspective
    • The past may not predict the future
    • Using common sense
    • How much mitigation is enough 
    • Requirements flow-down from clients
                                     
  • Risk transfer options
    • Types of Insurance, traditional and cyber
    • Variation among insurance policies
    • Contractual risk transfer
    • Risk syndication and shared risk models

  • Where to turn for help. Discussion and wrap up 
CLASS CANCELLATION:

IISE reserves the right to cancel a class up to 15 business days prior to the scheduled start date

Registration Fee

Member: $595 Non-Member: $725

Course Schedule

Course ID: 3038 Jan 22 - 23, 2020 Norcross, GA Register