Cybersecurity and Risk Management: From Data to Policy
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A reception will immediately follow the talk.
With increasingly frequent and evermore costly data breaches and other cyber incidents, effectively assessing, quantifying, and managing cyber risks has become crucial for organizations large and small. Many key challenges we face are rooted in unique characteristics of this type of risk, from a fast-changing threat landscape that brings unforeseen forms of attacks, to the fact that cyber risks are heavily interdependent among organizations. I will take a look at how this field has evolved over the past decade and describe my research group’s work within this context, in particular, the use of data and supervised learning tools to quantify cyber risk at an organization level, and the use of cyber insurance as a policy mechanism to incentivize better risk control.
Mingyan Liu is a leading expert in optimal resource allocation, performance modeling, sequential decision and learning theory, game theory and incentive mechanisms, all within the context of large-scale networked systems and with applications to cyber risk quantification.
Technologies she developed in the cybersecurity space have been successfully transitioned. She co-founded the start-up company, QuadMetrics, Inc., commercializing predictive data analytics her team developed for cyber risk quantification that resulted in the first global enterprise cybersecurity ratings system; it was acquired by the analytics software company Fair Isaac (FICO) in 2016. This technology has been used for enterprise risk management, vendor management, cyber insurance underwriting, and most recently, in augmenting Environmental, Social, and Governance (ESG) ratings.
Prof. Liu joined the University of Michigan, Ann Arbor, in September 2000, as an assistant professor in Electrical Engineering and Computer Science. She has been the Peter and Evelyn Fuss Chair of ECE since 2018. She is the recipient of the 2002 NSF CAREER Award, the University of Michigan Elizabeth C. Crosby Research Award in 2003 and 2014, the 2010 EECS Department Outstanding Achievement Award, the 2015 CoE Excellence in Education Award, the 2017 CoE Excellence in Service Award, and the 2018 Distinguished University Innovator Award. She has received a number of Best Paper Awards and has served on the editorial boards of IEEE/ACM Trans. Networking, IEEE Trans. Mobile Computing, and ACM Trans. Sensor Networks. She is a Fellow of the IEEE and a member of the ACM.
Prof. Liu received an MS degree in Systems Engineering and Ph.D in Electrical Engineering from the University of Maryland, College Park, in 1997 and 2000, respectively.