Big Data Meets Risk Management 

Talk and Networking Reception
Sam L. Savage, Mike Jerbic, Danny O’Neil

Description

Enterprise information systems aggregate data from many sources and leverage personnel at all levels of an organization. They provide information on accounting, customer experience, business processes, and many other key areas--except risk. Risk management systems are typically standalone because they involve computer simulations instead of data. ProbabilityManagement.org recently teamed up with the Open Group Security Forum and San Jose State University to develop an Excel spreadsheet risk calculator based on the Open FAIR risk standard. Live demonstrations of the free calculator will show how risk can be represented as data. 

Agenda

1. Probability Management
   The SIPmath Standard: Uncertainty as auditable data.
2. The Open FAIR Risk Methodology
   A taxonomy of the factors that contribute to risk and how they affect each other.
3. A SIPmath Implementation of FAIR
   An interactive model that runs in native Excel, which performs a Monte Carlo simulation with each keystroke.
4. Rolling up Operational Risk at PG&E
   Working toward a consolidated risk statement using common desktop software tools.

Presenters

Sam Savage is Executive Director of ProbabilityManagement.org, author of The Flaw of Averages, and Adjunct Professor at Stanford University School of Engineering. 

Mike Jerbic is Co-Chair of the Open Group's Security Forum and Lecturer in Economics at San Jose State University. 

Danny O'Neil is co-developer of the Open FAIR spreadsheet tool and is pursuing a Bachelor's degree in Economics at San Jose State University.