Viruses, Worms, and Other Strange Internet Creatures

A few years ago, I was in charge of the operations of a power trading in firm in Prague reporting to the Board of Directors. I discovered just how stressful a job can truly be and I learned a lot about the realities of commodity trading and businesses in general. In commodities, we talk a lot about risk management. We think about price impacts, we think about timing, credit, legalities in contracts and so much more. In my experience, two risks kept me on my toes more than any other – IT and People. In the past, I have written about people risk and, after a weekend filled with talk of worms, ransomware, and a global hacking attack, I am going to focus on IT risk. Actually, not IT but security. Imagine if all of you trade data was now encypted and held to ransom? I’m sure that you have a disaster recovery plan and adequate back up and recover plans in place right? But have you ever actually tested these procedures? Will they actually work and have you back up and running in the time needed? Are you sure that your data and processes are secure? These thoughts kept
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