Meet a Member – New York Chapter Chair Derrick Rice, Director of Cyber Security Risk Management at Cigna

Derrick Rice - NY Chapter Chair - FAIR InstituteStart spreadin’ the news – the New York Chapter of the FAIR Institute is back in business and under the leadership of our new chapter chair, Derrick Rice, Director of Cyber Security Risk Management at Cigna.

Join Derrick for the next chapter meeting Wednesday, March 20, 4:00 – 5:30 PM, at the EY headquarters near Midtown – get the details and register

We caught up with Derrick for this introduction:

Q: How did you get into cyber risk management?

A: Having spent the first 15 years of my career focused on various information technology and engineering roles, I decided to make a shift into cybersecurity.  As my career progressed, I quickly realized that all decisions should be risk-based, and I wanted to contribute to and be a part of those important decisions we're faced with on a daily basis.

Q: How did you first hear about FAIR and the FAIR Institute? 

A: While working in professional services, I first heard about the FAIR methodology from an organization with a mature and well-established cybersecurity risk management program. 

Q: What benefits has quantification brought to the way you see risk managed? 

A: In a world of greens, yellows, and reds, it's important to seek and provide differentiation in order to prioritize and make the best decisions. 

Q: Once you have quantified risk, a crucial next step is to communicate those results to stakeholders. What are some tips that you would give about effectively communicating risk to leadership? 

A: It is important to define an organization's risk tolerance as well as offer ample education for all stakeholders. Quantified risk could be meaningless to some without those steps. Also, consider altering the content based on the audience and the message you are trying to portray.  Leveraging your relationships and partners is key to help assist with the change management around viewing analysis in a different way.

Q: We’re glad to welcome you as our chapter leader! What do you hope to achieve with the New York chapter of the FAIR Institute?

A: I'm thrilled and honored to help revive the New York City FAIR chapter!  I'm eager to provide a regular forum where the city's risk professionals and leaders can come together, share experiences, and learn from each other.  We'll start with a quarterly cadence and see where that goes.  There will be ample opportunities for everyone to contribute to and make recommendations for this chapter journey.

Register for the New York chapter meeting, Wednesday, March 20, 2024

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