Cyber security risk assessments are a framework for detecting, analyzing, and prioritizing operational risk – Let’s dig deeper into why your company needs it more than ever.
What is a Risk Assessment? Understanding, monitoring, controlling, and reducing cyber risk throughout your company is the goal of a cybersecurity risk assessment. It’s an important element of every company’s risk management and data security strategy.
The National Institute of Standards and Technology (NIST) offers a cybersecurity risk assessment framework that companies can use to evaluate their systems for possible vulnerabilities.
What does a cybersecurity risk assessment do?
Cyber security risk assessments are a framework for detecting, analyzing, and prioritizing operational risk. Risk assessments are used to determine the possibility of an attack on your hardware, software, servers, IP, customer databases, and other devices.
A risk assessment and evaluation is usually carried out by a team of cybersecurity professionals and is often followed by a set of recommended changes to address the risks found.
By conducting systematic risk assessments of your security posture on a regular basis, you will have a better understanding of where your assets are located and what potential threats exist. Risk assessments enable you to estimate the possibility and consequences of such assaults, as well as analyze current security measures to see if what you’re doing is sufficient to defend you from a malicious attack.
Examples of cybersecurity include:
- Phishing
- Malware
- Data leaks
- Insider threats
- Ransomware attacks
What is included in a cybersecurity risk assessment?
A cybersecurity risk assessment analyzes the different information assets that might be harmed by a cyber assault (for example, hardware, systems, laptops, customer data, and intellectual property), as well as the numerous threats that could influence those assets.
Typically, a risk estimate and evaluation are carried out, followed by the selection of controls to address the risks found. It is critical to continuously monitor and analyze the risk environment in order to detect any changes in the organization’s context and to keep track of the whole risk management process.
Does your organization need a risk assessment?
Hackers, malware, and other IT security concerns can put your organization at risk for a massive breach. Conducting a risk assessment can catch these vulnerabilities before they are exploited by hackers. If you have the time to anticipate a security breach and mitigate the potential negative repercussions, you have a decent chance of succeeding and saving your firm from organizational and reputational damage.
To identify any changes in the organization’s context and maintain track of the whole risk management process, it is important to continually monitor and evaluate the risk environment.
Iron Range Cyber Risk Assessment
For every Risk Assessment client we take on, we begin with a full-scope security review to ascertain what you have, what you need, and where we need to help. This enables us to cost-effectively help you build out the technology and processes you need to be compliant with while improving the efficiency of your business.
We begin by filling in your security gaps with easy-to-use, high-performance tools that not only help you comply but also help keep your organization safe. We aim to help you meet every applicable security control to make your Risk Assessment a breeze.
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