Risk management has become a front-burner issue for all corporations due to such factors as the rise of legislative and industry mandates, and the increased visibility and catastrophic financial effects of recent corporate security breaches. However, management of corporate risk has traditionally been done in, at best, an informal and localized way across most corporations. It has been managed in local "silos" in which each department or business unit attempted to reduce the overall risk of its operations, usually without coordination with other related corporate groups or direction from a corporate risk program.
