The Challenge

Although it’s broadly acknowledged that risk should drive security programs, that is easier said than done. Customers struggle to define, assess, measure, communicate and manage risks in a consistent and comprehensive manner. Risk is constantly changing with the business landscape, and a multitude of gaps in the typical organization’s policy and governance processes make effective risk management a hard discipline to establish.

Our Solution

A Risk Management Program Review begins with an assessment of risk-related domains such as governance, risk management, policy, data classification, change management and metrics. We analyze and validate the current state and the gaps, then prepare a full set of detailed recommendations and suggested templates.

The Risk Management Program Review helps clients discover or define any or all of following:

  • The role of risk management in governance
  • Business risk owners and risk appetites for IT assets
  • Taxonomy of the types, levels, and thresholds for risk in the context of the business
  • Taxonomy linkages to the security policy, control framework, and standards 
  • Processes for identifying, assessing, and evaluating risks as well as risk exceptions or acceptance
  • Integration of risk assessment and risk treatment into project management, third party management, software development life cycle (SDLC), change management, incident response, and other processes.
  • Processes for risk communication and reporting including risk registers, key risk indicators (KRIs) and key performance indicators (KPIs)
  • Risk estimation or quantification methodologies for planning and budgeting IT/security business cases  

The Risk Management Program Review can also utilize elements of our assessment, architecture improvement and custom consulting packages at a level tailored specifically for each client. 

Benefits

Clients gain both an assessment of their current risk management process, and a full set recommendations and suggested templates for a state-of-the-art risk management framework. The process instills a comprehensive risk management approach into IT security and business governance. Risk assessment, approval and reporting processes will be actuated to flow through the organization using control and reporting metrics appropriate to each level of the management hierarchy, or governance matrix. Risk management will influence business decisions in a risk-appropriate manner, enabling the organization to move forward with IT, digital transformation, and other business initiatives with greater confidence in its ability to maintain security, visibility, and control. The organization will now be in compliance with regulations specifically requiring risk management. Also, it can use risk management to inform and justify the selection of security controls or practices to regulators and auditors.

Learn how to quickly advance your risk management program so that it can improve the organization’s security- and compliance-related decision-making across the board.

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