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Welcome to the website for the Rocky Mountain Chapter of RIMS! 

Mission Statement

Advance the Risk Management profession among our members, students and business community through educational programs, professional development resources and networking opportunities.

Our Events


Announcements

  • July 2019 - Rocky Mountain RIMS at the Colorado Rockies

    Please join your Rocky Mountain RIMS colleagues on Wednesday, July 31, 2019, for a fun afternoon of networking, a chance to discuss risk issues with fellow risk practitioners, and baseball! A picnic lunch will be followed by the Colorado Rockies -vs- LA Dodgers game.
  • May 2019 Chapter Meeting

    Registration coming soon!  Join your colleges for the May 2019 Chapter meeting on Thursday, May 23, 2019.  Topic: Prepare for Disruption - Emerging Technologies and the Digital Revolution, Speaker: Leslie Chacko, Director, Transformative Technologies, Marsh and McLennan Insights

Legislative Update

General Data Protection Regulation
“GDPR”
Effective May 25, 2018

The European Union (EU) adopted the GDPR with the purpose to regulate organization’s management of data with a primary focus on protections of personal information stored and processed by businesses. This outline provides the highlights of the regulation.

1. GDPR is adopted by the European Economic Area (EEA) which includes the EU* plus Iceland, Liechtenstein, Norway and Switzerland.

2. It applies to any company doing business in, offering goods or services to, or employing, Data Subjects in the EEA. The liability for failure to follow the regulations is massive fines of up to 4% of global revenue or 20 million Euros, whichever is larger. In May 2017 Facebook was fined $122 million under the GDPR’s predecessor. Potential liability could be in range of $1.6 billion.

3. Persons must be provided the option of Opt In or Opt Out – the choice can be withdrawn at any time.

4. Persons are granted the right to access their data, and obtain a copy of their data, in an interchangeable format. (Formatting is underdevelopment by Microsoft, Facebook, Google and Twitter)

5. Persons have the right to “be forgotten” – this applies to third parties who may also have access to the data.

6. All data processes going forward must be designed with the concept of “Privacy by Design”. This is a new approach to system design requiring businesses to adopt specific design processes that check-point and document the privacy protections at each step.

7. Data breaches must be reported to EEA authorities within 72 hours of the suspected breach.

8. Personal data includes:
     a. Personally Identifiable Information (PII - similar to the US privacy regulations) – Name, birthdate, drivers license, passport, address, social            security number. New is a person’s IP address(es)                                                  
     b. Sensitive personal data, including:
          i. Racial or ethnic origin
          ii. Political opinions
          iii. Religious or philosophical beliefs
          iv. Trade union membership
          v. Genetic or biometric data
          vi. Health
          vii. Sex life or sexual orientation

9. Principles of the GDPR – data must be:
     a. Processed lawfully, fairly and transparently
     b. Collected for specified, explicit and legitimate purposes
     c. Use limited to the purpose it was collected
     d. Accurate and, if needed, kept up to date
     e. Kept only for as long as needed for the purpose collected
     f. Processed with appropriate security including Confidentiality, Integrity and Availability

10. Tasks for business:
      a. Businesses must appoint someone to assume the responsibilities of a Data Privacy Officer (DPO).
      b. Conduct a GDPR Readiness Assessment
      c. Update website privacy notices
      d. Complete data inventory
      e. Train all Users
      f. Adopt Privacy by Design
      g. Implement a Secure Software Development Lifecycle (SSDL)
      h. Test for security throughout all components of a system, including third party suppliers
      i. Prepare to respond to inquiries from authorities

11. Restricts the transfer of data outside the EEA unless:
     a. Authorities are convinced that other countries have adequate safeguards in place

The bottom line is that any business doing business in and out of the EEA must comply with the GDPR. Risk Management, Legal Counsel, Information Systems and Security professionals should be engaged to design, fund and oversee the operations of Information Management for their businesses, clients and suppliers operating in the EEA. All steps should documented with the expectation that authorities will request with little notice.

*EU countries - Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

RISK News

  • A new study shows that changes in employee engagement and loyalty can indicate whether an employee is planning to leave, and these changes may start up to 9 months before an employee quits. In The 9-Month Warning: Identifying Quitters Before Its Continue reading
  • Earlier this month, a Chinese woman was arrested after attempting to enter President Donald Trump’s Mar-a-Lago resort while in possession of a number of suspicious electronic devices, including a USB flash drive. Apparently, the drive contained code that allows malicious Continue reading
  • NEW YORK — “Incident Response and Recovery” was the theme of the National Cyber Security Alliance (NCSA) and Nasdaq Cybersecurity Summit on April 17. Security and risk professionals from the Department of Homeland Security (DHS) and various companies and organizations Continue reading
  • According to new research from cybersecurity company Symantec, 67% of hotel websites are leaking customer reservation details and other personal information. Candid Wueest, the company’s principal threat researcher, tested more than 1,500 hotels in 54 countries, including low-cost to high-cost hotels, Continue reading