The office of Enterprise Risk Management of the Federal Retirement Thrift Investment Board has been in operation for around 3 years now and they have been really busy since their inception. Currently, they have decided to study the private sector in a bid to collect insight in cyber security.
PRIVATE SECTOR TO BE STUDIED BY THE TSP BOARD:
The office has been doing a great job, as indicated by Jay Ahuja who is the FRTIB’s chief risk officer. He admits though that there is still a long way to go and that their job is far from being finished just yet. Ahuja said on March 29th that they have been working on risk assessment and management for quite some time now and have been setting up infrastructure for it too but still there is room for improvement just like there was at the start.
In their bid to fight cyber terror, the office of enterprise risk management has decided to study the private sector to be astutely able to know how to tackle cyber security and risk management related issues. Ahuja says that there is a strict timeline being followed by the organization and that he expects them to wrap things up by the mid of May so that the board can go ahead and contemplate how to move forward. FRTIB has had a hard time tackling cybersecurity as well. Around 123 thousand participants’ information was compromised through one of the board’s contractors in 2012. Since then they have been receiving heavy criticism about the security issues that they are having.
While the study is still yet to take place, it’s expected that it’s going to not only help in creating awareness but will also provide the organization with some valuable insight on how to tackle cyber threats and ensure cybersecurity.
