Monday, April 13th, 2015 - 14:55
“By some estimates, taking out just nine critical electrical
substations could plunge the whole nation into darkness,”
says Jason Black, a researcher at Battelle Institute. This
scenario, of course, probably keeps the leaders of the Federal
Energy Regulatory Commission (FERC) awake at night. What
is their risk management strategy?
Other federal agencies also face a wide range of risks. Some are external; others are internal to an agency:
- Some risks are financial (such as having to deal with managing under a federal sequester or the financial market’s impact on corporate investments in pension funds, which could affect federal pension guarantees).
- Some are operational, such as those faced by FERC, or cybersecurity threats, or even insider threats by employees.
- Some are reputational, such as the recent accusations of Patent Office telework abuse, or the General Services Administration’s lavish conferences scandal.