HE Saeed Mohammed al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has today inaugurated the 3rd Enterprise Risk Management (ERM) conference. DEWA organised the conference under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, and in partnership with the Institute of Risk Management (IRM) in the UK.
The ERM conference was held at Atlantis, The Palm hotel in Dubai, and was attended by HE Yousuf Hamad Al Shaibani, CEO of Dubai Electronic Security Centre; HE Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), and over 500 experts and specialists in cyber security and risk management from the public and private sectors.
Speakers at the conference included Jamie Woodruff, one of the world’s leading authorities on cyber security and a prominent ‘ethical’ hacker in Europe; Christopher Gardner, one of the world’s leading speakers of leadership and motivation in risk management; and Dr. Tommy Weir, a bestselling author and inspiring speaker about strategic leadership for the future. The conference discussed mechanisms and ways to achieve organisational strategic objectives by adopting an effective proactive approach to identify, assess, and prioritise risks and define priorities.
In his keynote speech, Al Tayer noted that the 3rd ERM conference builds on the success of the last two conferences and the positive feedback from participants.
“This year’s conference’s theme is ‘Risk and Cyber Security 2017,’ which is especially important considering the increasing challenges and threats resulting from rapid technological advances, and the accelerated developments in smart transformation. Cyber security has become a key requirement for smart cities. And organising this conference in Dubai emphasises the UAE’s leadership in consolidating cyber security, to keep up with the widespread use of smart technologies and their accompanying risks,” said Al Tayer.
“In May, thousands of organisations worldwide were infected with ransom malware, which encrypted data and demanded a ransom to unlock it. Hypothetical cloud-service attack scenarios by Lloyd’s, a global insurance market leader, and Cyence, a cyber-risk analytics platform, estimate that the average losses caused by such a disruption could range from USD4.6 billion to USD53 billion, but actual losses could be as high as USD121 billion,” added Al Tayer.
Al Tayer noted that the Computer Emergency Readiness Team in the Telecommunications Regulatory Authority in the UAE foiled 561 cyberattacks during the first half of 2017. This included 284 attacks on government and semi-government websites, and 277 attacks on private-sector websites. Attacks during this period accounted for 53% of the total attacks in 2016, reflecting the high frequency of hacking attempts on public and private websites. That’s why this conference is an important platform to learn about the latest developments, technologies, and best practices in cyber security from prominent experts and specialists.
“His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that, “Every challenge is an opportunity for learning, a chance to test our capabilities and knowledge.” With this concept in mind, DEWA launched its security strategy 2021 in line with the Dubai Cyber Security Strategy, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, last May. The strategy provides integrated protection against the dangers of cyberspace and supports innovation in cyberspace. This in turn, supports the growth of Dubai and its economic prosperity, and strengthens the Emirate’s position as a world leader in innovation, safety, security, and excellence,” said Al Tayer.
Al Tayer noted that DEWA has made significant advances in the systematic and effective development of its enterprise risk management strategy. DEWA is the first organisation in the Middle East to apply SAP Risk Management 10.1. It adopts the best ISO31000-certified international practices. DEWA has received the ISO22301 Business Continuity Management certification, becoming the first utility in the Middle East and North Africa to do so for its integrated operations. DEWA has also received many prestigious awards and certificates, including the 7th Middle East Municipalities and Smart Cities Excellence Award from the Middle East Excellence Awards Institute, for Risk and Crisis Management Excellence. DEWA also won the Cyber Risk Strategy of the Year award at the Global Risk Management Awards 2016.
“While DEWA contributes to achieving the goals of the Smart Dubai initiative to transform Dubai into the smartest and happiest city in the world, and dedicates its efforts to making Dubai a model for smart cities, we are committed to sharing our best practices and knowledge with all partners and stakeholders from the government and private sectors in the UAE. This ensures improving work performance and enhances sound planning to achieve strategic objectives. Our common goal is to achieve the highest levels of excellence and quality, and harness capabilities to develop government work and improve its outcome to serve the people, and make them happier. I am confident that this conference will play an important role in achieving these goals, and will be an important addition to the government’s efforts to provide a secure cyberspace for users and strengthen safety and security in society,” concluded Al Tayer