Why conduct Cyber Quotient® Risk Assessment ?
Cyber Quotient
How Secure is your Organization ?
Like Emotional Quotient has become the benchmark for professional success and perhaps that of organizational sucess, we believe that your ability to manage risk of cyber and capability to safe gaurd your organization will determine the strength of your organization. We measure your readiness to cope with Cyber Threats and map it to a number. This number on a scale of 10 tells you how secure is your organization.
The higher the score the higher is your risk for a cyber attack. However cyber space keeps evolving every day, hence this is a measure in time and is required to be reguarly checked to determine the cyber health of your organization.
Reduction of long-term costs: identifying potential threats and vulnerabilities, then working on mitigating them has the potential to prevent or reduce security incidents which saves your organization money and/or reputational damage in the long-term.
Provides a cyber security risk assessment template for future assessments: Cyber Quotient® risk assessments aren't one of processes, you need to continually update them, doing a good first turn will ensure repeatable processes even with staff turnover.
Better organizational knowledge: Knowing organizational vulnerabilities gives you a clear idea of where your organization needs to improve.
Avoid data breaches, Data Breaches can have a huge financial and reputational impact on any organization.
Avoid regulatory issues: Customer data that is stolen because you failed to comply with industry guidelines, Cyber Security Guidelines.**
Avoid application downtime: Internal or customer facing systems need to be available and functioning for staff and customers to do their jobs
Data loss: theft of trade secrets, code, or other key information assets could mean you lose business to competitors
What is a cyber risk assessment?
Cyber risk assessments are defined by NIST as risks assessments are used to identify, estimate, and prioritize risk to organizational operations, organizational assets, individuals, other organizations, and the Nation, resulting from the operation and use of information systems.
The primary purpose of a cyber risk assessment is to help inform decision-makers and support proper risk responses. They also provide an executive summary to help executives and directors make informed decisions about security. The information security risk assessment process is concerned with answering the following questions:
-
What are our organization's most important information technology assets?
-
What data breach would have a major impact on our business whether from malware, cyber attack or human error? Think customer information.
-
What are the relevant threats and the threat sources to our organization?
-
What are the internal and external vulnerabilities?
-
What is the impact if those vulnerabilities are exploited?
-
What is the likelihood of exploitation?
-
What cyber attacks, cyber threats, or security incidents could impact affect the ability of the business to function?
-
What is the level of risk my organization is comfortable taking?
If you can answer those questions, you will be able to make a determination of what to protect. Cyber Quotient® can help you develop IT security controls and data security strategies to mitigate risk. Before you can do that though, you need to answer the following questions:
-
What is the risk I am reducing?
-
Is this the highest priority security risk?
-
Am I reducing the risk in the most cost-effective way?
This will help you understand the information value of the data you are trying to protect and allow you to better understand your information risk management process in the scope of protecting business needs.
Cyber Quotient®
We'll start with a high level overview and drill down into each step in the next sections. Before you do anything to start assessing and mitigating risk, you need to understand what data you have, what infrastructure you have, and the value of the data you are trying to protect.We will start by auditing your data to answer the following questions:
-
What data do you collect?
-
How and where are you storing this data?
-
How do you protect and document the data?
-
How long do youkeep data?
-
Who has access internally and externally to the data?
-
Is the place we are storing the data properly secured? Many breaches come from poorly configured storage servers.
Next, we will define the parameters of your assessment.
-
What is the purpose of the assessment?
-
What is the scope of the assessment?
-
Are there any priorities or constraints we should be aware of that could affect the assessment?
-
Who do we need access to in the organization to get all the information I need?
-
What risk model does the organization use for risk analysis?
Once these data points are assimilated we start building the Cyber Quotient Risk Posture for your Organization.
Reach out to our Risk. Consultants.
