A new era of big data risk management

Agiliance announced RiskVision 7, which mines petabytes of operational and security risk data to manage near real time workflow, intelligence, and analytics driving business impact and performance.

Organizations are operating in a dynamically changing risk ecosystem, characterized by cyber-attacks on bring-your-own-devices (BYOD) and threats to organizational supply chains. Meanwhile, mushrooming government frameworks such as NIST Cybersecurity scrutinize antiquated, assessment-based risk and governance practices based on managerial opinion. This creates an imperative to strategically align objectives with data-driven analysis of risks from business units, suppliers, as well as cloud and datacenter operations to optimize risk intelligence, prioritization, remediation, and audit reporting.

At the September 2013 Gartner Security & Risk Management Summit in London, Gartner analyst Neil MacDonald presented a transformational, context-based, big data approach. He stated, “Context is critical to turning huge amounts of security data into actionable insight and identifying those things that represent the most risk in an organization. Organizations should demand specific roadmaps to show how vendors are adding application, identity, and context awareness to their products.”

Now RiskVision 7 unleashes defining breakthroughs in big data risk management, including:

For Operational Risk Use Cases:

• Business Process Connectivity – A new RiskVision object framework, which allows consuming data records ranging from tens of thousands to millions, via ERP, financial, HR, credit rating, payment, supply chain, or any other custom- or third-party business application. Links operational risks to the business for use cases such as supply chain, counter-party, and business resilience risk, easing multi-national regulatory concerns on governance processes.
• Operational Risk Workflows – A new RiskVision logic framework, offering dynamic data workflows to streamline operational risk audits by delivering actions to the right domains, at the right time. The model is extensible to all operational risk needs; e.g., AML, Basel II, FCPA, etc. Supports over 20,000 practitioners, enables operationally-efficient resource usage, and allows current staff more time for risk analytics and audit management.

For Security Risk Use Cases:

• Cyber Systems Modeling – A collection of virtualized and physical assets, applications, databases, identities, and locations to correlate data from security and IT tools, generating remediation actions at an aggregate level that prioritize risk mitigation and response.
• Mobile Data Correlation – Mobile entity data attributes to score risk by correlating OS and applications, threat feeds, and user identities outside and inside the corporate firewall, before and after devices connect to the network. Prepares organization to manage the new and undefended high risk threat vector – rogue applications entering corporate networks via mobile devices.

For All Use Cases:

• Anywhere, Anytime Analytics – HTML 5-based questionnaires, call lists, risk analytics, and ad-hoc reports now available on all handheld devices such as notebooks, tablets, and smartphones – anywhere, anytime. Enables organizations to analyze large risk data sets and operationalize risk-based decision process automation to users outside of compliance, security, and IT.
• Graphical Visualization – Auto-diagramming complex workflows in easy to see and interactive views. Extensible to graphical visualizations of organizational hierarchy and enterprise architectures with embedded risk data relationships. Enables business user acceptance of more sophisticated systems of workflows, assets classification, inheritance, and propagation.

“Agiliance eschews the status quo in risk management by replacing managerial opinion and tactical consulting with a purpose-built, big data solution for customers and partners to manage business performance,” said Joe Fantuzzi, president and chief executive officer at Agiliance. “Modern risk management requires real-time data and business self-sufficiency so risk owners can respond to business, board and regulator demands in a timely and accurate fashion. RiskVision 7 rings in the New Year with big data risk management and marks the beginning of the end of little data compliance management.”

RiskVision 7 is available immediately. Pricing starts at $25,000 per application per year.