Tag Archives: Memorandum of Understanding

Institute of Risk Management East Africa Regional Group partners with Serianu Ltd to grow local cyber risk talent

The Institute of Risk Management’s (IRM) East Africa Regional Group (a member body of the IRM in the UK) and Serianu Ltd have agreed to work together on addressing the huge deficit of qualified risk managers in the region coupled with local public and private sector organisations needing critical hand-holding to ensure risks and opportunities within organisations are effectively identified and managed.

The collaboration is bidding to develop a fundamental home-grown cyber risk management framework for the African context which aims to increase the number of competent risk professionals as well as enhance excellence in cyber risk management and reporting.

Serianu Ltd is a pan-African cyber security consulting firm. The business has signed a Memorandum of Understanding (MoU) with the IRM that will engender collaboration on research, training, community out-reach and policy design.

IRMLogo

According to Dorothy Maseke, chair of the IRM’s East Africa Regional Group, Kenya especially needs 1,000 qualified risk management professionals annually, yet over the last three years the population has grown from just under 20 to around 120 today.

“Risk management is a relatively new field of professional practice yet, locally and globally, there’s a major shift by regulators to entrench high risk management standards,” explained Maseke. “Risk has become a core reporting requirement by management as well as a key responsibility of Boards of Directors. For instance, Kenya’s public sector is guided by the Mwongozo Corporate Governance Code which sets out compliance parameters.”

New specialism

Maseke added that risk management had emerged as a new specialism as a result of changing business and public sector operating environments that have shone a spotlight on governance mechanisms. At the same time, the practice of risk management is increasingly credited with identifying great opportunities for innovation even as it seeks out issues that would derail any organisation from achieving its goals at any one time.

DorothyMasekeIRM

Dorothy Maseke

Threats and opportunities have been a standard in every organisation’s overall strategy for several decades, but now for the first time in corporate governance history, this is firmly set in the risk manager’s scope of work and monitored daily. Maseke noted that, in this way, organisations are also able to clearly assess and derive the benefits from investing in their systems and processes.

Carol Misiko, the East Africa Regional Group’s secretary, added that cyber risk is no longer a back-office IT team issue (although they clearly play a vital role). Misiko noted that today’s enterprise risk management function needs to be able to understand this constantly evolving risk, but also manage, monitor and report on this emerging risk.

Common interest

Speaking during the MoU signing ceremony, Serianu Ltd’s CEO William Makatiani observed that the two institutions have a common interest in growing the knowledge of Boards of Directors and senior management so that they have a strong grasp on emerging events and issues that may affect their organisations.

“We’re collaborating with the Institute of Risk Management to give directors and managers tools and methods that empower them to have a better grasp of cyber risks and opportunities they can exploit,” stated Makatiani. He added that, generally – and especially so in the public sector – the degree of compliance is still quite low and that many highly regulated private sector organisations are yet to get to cross the 50% mark.

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The Security Institute signs Memorandum of Understanding with the International Professional Security Association

The Security Institute, the UK’s largest membership body for security professionals, has signed a Memorandum of Understanding with the International Professional Security Association outlining reciprocal membership arrangements.

The relationship between the two organisations will be known as Constituent Membership whereby the International Professional Security Association (IPSA) is a Constituent Member organisation of The Security Institute with an Affiliate Membership while the Institute is now an Affiliate Member organisation of IPSA.

It’s the IPSA entity that’s the Constituent Member rather than any individuals of the organisation and vice-versa. However, IPSA members may be Institute members in their own right and vice-versa regarding The Security Institute’s members having personal membership of IPSA.

Both parties retain their own identities and legal structures and operate in accordance with their own organisational rules and legally binding constitutions.

Emma Shaw CSyP: chairman of The Security Institute

Emma Shaw CSyP: chairman of The Security Institute

Main elements of the agreement

The main points covered by the new agreement are:
*The Security Institute and IPSA will share information by exchanging appropriate newsletters, bulletins and press releases, etc that may potentially be of mutual interest to their respective memberships
*The Security Institute and IPSA will incorporate information on their websites about each other’s organisation and their respective activities. This will include logos and reciprocal web links
*The Security Institute will appoint IPSA as a Continuing Professional Development (CPD) partner organisation
*The Security Institute and IPSA will co-ordinate, wherever practicable, on mutually relevant topics and activities

Speaking about the new arrangements, The Security Institute’s chairman Emma Shaw CSyP commented: “We’re delighted to be working with IPSA. The Memorandum of Understanding will benefit members of both organisations enormously. We have broad areas of overlapping interest and this will help us to develop the security profession as well as deliver benefits to our members.”

Mike White MSyI: IPSA chairman

Mike White MSyI: IPSA chairman

IPSA chairman Mike White MSyI added: “This is the first step in a collaborative journey in which we hope others will want to play a part. IPSA is delighted to be working with The Security Institute in leading the campaign to positively raise the profile of our industry and professionalise it still further.”

The Memorandum of Understanding was signed on Tuesday 16 December at The Security Institute’s 15th Anniversary
Birthday Party.

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