Assessing and Preventing Financial Risks

Gary Vecchiarelli is the Chief Financial Officer at CleanSpark, a sustainable Bitcoin mining company solving modern energy challenges. As a licensed CPA, he has over 10 years of experience in public accounting, having worked for international firms with clientele ranging in size from $50 million to $1 billion while operating in various industries. Gary serves on the board of directors for the Doral Academy of Nevada and Financial Executives International Las Vegas Chapter. He was named by VEGAS INC magazine to the “Las Vegas 40 Under 40” list in 2014. In this episode… With the enforcement of the Sarbanes-Oxley Act of 2002, finance departments must remain transparent in their reporting practices to mitigate fraudulent activity. Yet these departments continue to struggle with privacy and security measures and as a result, fall victim to wire fraud and phishing scams. So, how can you assess and prevent risks to stay compliant and combat attacks? Finance and accounting expert Gary Vecchiarelli recommends implementing internal security controls to conduct preventative risk analyses and assessments and forecast potential attacks. At the foundational level, finance departments can invest in firewalls and encryption and instruct team members to approve transactions. To ensure maximum security, Gary advises incorporating the COSO Framework into your business processes to comply with industry standards and identify, monitor, and eliminate risks effectively. In this episode of She Said Privacy/He Said Security, Jodi and Justin Daniels host Gary Vecchiarelli, Chief Financial Officer at CleanSpark, to discuss managing risks in financial environments. Gary shares how he manages security from a financial perspective, how finance departments can prevent fraud and hacking, and the impact of risk assessments on financial decisions.