FAIR Institute Sydney Chapter Meeting - Sept 2024

FAIR Institute Sydney Chapter meeting

Automating FAIR

Date: Thursday 5th Sept 5:30pm

Venue: EY Australia, 200 George St, Sydney NSW 2000

The ideal FAIR automated system would ingest threat data up to the minute, actively monitor the status of controls and assets at risk and pull in the latest loss data from trusted vendors of industry statistics and from the organization’s own logs. Based on those inputs, the system would deliver automated, on-demand FAIR analysis that quantifies the probable frequency of cyber events and probable magnitude of losses – in the dollar terms that drive business decisions.

The need for FAIR affirmation was clearly demonstrated in the recent CrowdStrike outage of the importance of “Managing risk at the speed of Business”.  Unsurprising, this is also the theme of FAIRCON24. Long queues at airports, failure in real-time payment, and crippled 911 calls in North America have hit home with the reality of the impact of cyber incidents, which, in this instance, was not malicious. The incident response phase has now transitioned into compensations with claims and counterclaims on the sufficiency of business continuity planning and continuous risk monitoring attributed to the speed of recovery and containment of financial losses.

Paresh Panchal (Solution Architect at Safe Security) will deliver a keynote address on the architectural approach to deliver continuous real-time cyber risk measurements leveraging FAIR. He will also walk through sanitised examples of commercial implementation of FAIR projects in Australia and overseas. It is a great opportunity for cyber risk managers to learn from a recognised FAIR expert in the field of real commercial projects.

John Hare (Associate Partner at EY) will lead an expert panel of risk practitioners to examine the need for FAIR automation to deliver real-time risk measurements to address the demand from the board and regulators on continuous cyber risk reporting and mitigation.

Panellists: 

Madhuri Nandi (https://www.linkedin.com/in/madhurinandi/)

Madhuri is passionate about driving robust cybersecurity programs and safeguarding critical data assets in today's ever-evolving digital landscape. She has a proven track record of success across diverse organisations, bringing over 17 years of experience in cybersecurity leadership and strategic planning.

Currently serving as the Head of Security at Till Payments, she architected comprehensive security strategies integrating business imperatives, risk assessments, and security imperatives, resulting in robust frameworks aligned with organisational objectives. She spearheaded key projects and collaborated with cross-functional teams to drive innovation and excellence in information security, risk management and cloud computing.

May Lam (https://www.linkedin.com/in/mayhmlam/)

May is an experienced and astute Technology, Transformation and People Leader with a track record of delivering corporate profitability, productivity and sustainable competitive performance. She has 20 years of increasingly accountable leadership roles in Banking and Financial Services, Management Consulting, Technology Products and Services industries. May has unique combination of experience as a CIO, CCO and a finance leader who drives strategic transformation to deliver purposeful outcomes and sustainable value to clients, people and society.

John Hare (https://www.linkedin.com/in/john-hare-644594/)

With over 20 years of professional experience in cyber security, diplomacy and law, John has mastered the golden for mitigating and articulating risk to senior stakeholders. As a diplomat, he advised senior UK government officials on sensitive political and security risks, often involving highly adaptive adversaries in a complex environment. He leveraged this experience to specialise in cyber security over the last nine years, working as a consultant at EY, in the cyber security team at CBA, and as a senior regional executive at a Nasdaq-listed cyber security vendor.

Paresh Panchal (https://www.linkedin.com/in/paresh-panchal-4313a3a/)

Paresh has over 20 years of Solution Architect experience in Cyber security industry. Helping CXO league of Organisations to measure & manage Cyber risk across all geo. Good experience in helping CXOs to solve different business challenges like Cyber Risk reporting to Board, Justify RoI, Operational prioritization, Cyber Insurance planning & Third Party Risk Management leveraging FAIR framework including FAIR-MAM & FAIR-CAM models. His experience in providing a solution to automate FAIR has helped clients to overcome FAIR implementation challenges.