Managing Cyber Security Risks

From identity theft to corporate hacking, cyber security has never been more important for businesses, organizations, and governments. Understanding these risks demands a proper methodology that takes an organization through the process of evaluating current threats and vulnerabilities to identifying the effective controls to either reduce or mitigate the risk in accordance with organization risk management policies.As security professionals, we understand that every proactive and reactive measure is to be

As security professionals, we understand that every proactive and reactive measure is to be adopted based on risk appetite and available budget. There are many identified risks such as web application vulnerabilities, malware infections, data breaches, information theft, social engineering and unauthorized access. Eventually, it all boils down to the combination of likelihood of an event happening and the impact of that event to an organization.

Risk Management is a straight forward concept to grasp but can be a cumbersome and time- consuming task, if the risks are not understood or evaluated. For managing cybersecurity risks, you need to know the risk assessment concepts, principles, and processes based on the ISO/IEC 27001:2013 standard requirements, as well as the threats and vulnerabilities that may affect your information assets.

More specifically, you must be able to identify and evaluate your assets, assess the impact and likelihood of threats and vulnerabilities to those assets, able to create a plan for mitigation or treatment, justify the need for risk treatment from the management team and produce management reports.

Managing risks using solutions such as CompSuite Starter with RA, not only guides you through the process of developing and writing a risk assessment methodology, it also helps you to learn how to perform risk assessment in compliance with ISO 27001. This largely enables organizations to proactively manage their risk and improve their security posture effectively.