RIMScast: Ransomware Risks and “Responding Gracefully” with Masha Sedova

Ransomware Risks and “Responding Gracefully” with Masha Sedova

Jun 29, 2021

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin is joined by Masha Sedova, the Co-Founder and President of Elevate Security; the leader in human attack surface management.

Recently, the risk and RIMS community have been seeing an influx of high-profile ransomware attacks in the news, from the Colonial pipeline to the world’s largest meat supplier. The fallout, disruption to operations, and the costs involved in addressing these attacks are enormous.

Luckily for RIMScast listeners, Masha addresses these concerns and shares how risk professionals can actually learn from these attacks and take steps to better protect their organizations. She also discusses the various attacks currently making headlines as well as a variety of other topics on the themes of ransomware and business interruption.

Key Takeaways:

[:01] About RIMS’s Global Membership.

[:26] About today’s episode with Masha Sedova.

[:38] Upcoming RIMS Virtual Workshops and Workshops!

[1:44] More about today’s episode with Masha Sedova.

[2:06] Justin welcomes Masha to RIMScast!

[2:21] Masha shares why and how she originally began a career in cybersecurity.

[3:50] Is Masha finding that risk professionals and risk managers are adapting more easily to the ever-evolving cyber risk landscape?

[5:14] Masha shares her insights on the current high-profile ransomware attacks that are currently in the news.

[7:50] What role the human element plays in the overall idea of cybersecurity risk.

[9:24] How Masha defines human risk.

[11:28] How an organization can measure and quantify human risk.

[14:09] Masha’s advice for mitigating human risk and how your organization can implement employee security controls.

[16:11] Upcoming RIMS workshops, Spencer’s Risk Manager on Campus Program, and more!

[18:33] The current state of measuring and understanding employee risk in organizations today and what the best-in-class companies are doing right now in relation to this.

[22:00] Why falling victim to a ransomware attack is often inevitable (and what we can do as risk professionals to respond gracefully).

[23:47] Why are frontline workers more susceptible to phishing?

[26:13] Are there acceptable levels of human risk? How do you gauge that?

[29:56] What elements of human risk should insurance companies start considering in their policies and coverage as it relates to ransomware?

[36:09] Justin thanks Masha Sedova for joining RIMScast and shares some of the links to look out for in this episode’s show notes.

Mentioned in this Episode:

RIMS Events, Webinars, and Services:

Did you attend RIMS Live 2021? Sessions are accessible through June 30th, 2021. Log in with your badge number: RIMS LIVE 2021

If you did not attend RIMS Live 2021 but want to access on-demand content, purchase the “Post Event Virtual Pass” for $499 to access the sessions, keynotes, and marketplace until June 30th. Visit: RIMS.org/RIMS2021

Registration for the VIRTUAL Spencer & Gallagher Golf Tournament is now open! Visit SpencerEd.org for more information and to register through August 15th, 2021 (You choose the golf course and team all while continuing to support the Spencer Educational Foundation!)

Spencer’s Risk Manager on Campus Program — Volunteer Today!

Upcoming Webinars:

July 15th, 2021 | “10 Essential Steps to Streamline Vendor Risk Assessments” | Sponsored by OneTrust

July 26, 2021 | RIMS and the RIMS Rocky Mountain Chapter Present: “A Discussion of Lloyd’s of London’s ESG Report 2020” — Open Exclusively to RIMS Members!

July 29, 2021 | How Better Data Is Transforming Risk Management & The Commercial Property Insurance Industry | Sponsored by Archipelago

Upcoming RIMS-CRMP Exam Prep Virtual Workshops (July & August 2021) — Gain an edge with the RIMS-CRMP; the only internationally accredited risk management certification!

Mentioned in this Episode:

Elevate Security Professional Report: “Elevating Human Attack Surface Management”

RIMS Diversity, Equity & Inclusion Council

RIMS Virtual Workshops: Claims Management — Register now for July 15‒16th, Aug. 23‒24th, or Nov. 8‒9th

RIMS Risk Appetite Management Virtual Workshop — July 21‒22nd

Save 15% off July and August Workshops! Use discount code LEARNRISK15 — Offer ends July 9th, 2021 (See the offer details below!)

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

Upcoming RIMS Webinars

On-Demand Webinars

RIMS Advisory Services — Ask a Peer

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