FAIR AWARDS

Honoring Excellence in Information and Operational Risk Management

The FAIR Awards honor risk management leaders for their initiative, ingenuity and contributions to Information and Operational Risk Management. The awards recognize the deep impact that these professionals have on their organizations by enabling operational excellence and effective decision-making, and in balancing the need to protect their organizations while running the business.

Business innovation and technology innovation are often connected. Innovative risk officers are disrupting the status quo by leveraging new analytic capabilities and by enabling the communication and management of information risk from the business perspective. This award recognizes those risk professionals who have successfully applied FAIR principles to drive innovation.

Successful nominees can demonstrate how they used FAIR principles to reach goals such as:
  • Transitioning from a compliance-based to a risk-based approach to information security and operational risk
  • Communicating to the board and the business in financial terms to enable a business analysis of information risk and effective decision-making
  • Demonstrating the impact of security investments and other risk mitigations on enterprise loss exposure
  • Optimizing the information security budgets based on explicit, quantified risk targets
  • Integrating quantitative risk analysis in operational decision-making processes
  • Enabling strategic business decisions such as new projects, partnerships and acquisitions, by helping achieve the balance between the opportunity and the associated risk
  • Implementing key reporting mechanisms indicating an organization's loss exposure over time

Transitioning to a business-aligned and data-driven culture within information risk requires leadership: intellect to envision and explain, understanding to address fear, evangelism to motivate, and courage to manage through unknowns. This award recognizes leaders at the forefront of their organization’s FAIR initiative who get data owners on board, stakeholders to help improve analysis, and decision-makers to adopt the resulting analytics as an integral part of their strategies, decision-making processes and operating rhythms.

Successful FAIR Champions can demonstrate a track record of reaching goals such as:

  • Driving an explicit, data-driven culture for managing information risk
  • Making FAIR reporting a core component of monthly or quarterly operational meetings, business reviews, strategy and planning and other decision-oriented meetings
  • Providing new insights that influence decision-makers Driving important, quantified improvements in source data quality
  • Integrating FAIR data and analysis into existing decision-making processes
  • Educating IT and business executives about FAIR and the importance of its adoption
  • Evangelizing FAIR through community engagement, such as through the FAIR Institute

 
2016 WINNERS 

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2016 FAIR BUSINESS INNOVATOR
 

Christopher Cooper
Reinsurance Group of America, Incorporated
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2016 FAIR CHAMPION
 
Joel Baese
Walmart