Reduce your risk with Risk Management

Cyber threats are always changing. Adopting a risk-based strategy for cyber security is the most effective way to safeguard your company against cyber threats. Cyber risk management is the process of identifying, analysing, evaluating, and responding to cyber security hazards in your organisation. Your cyber risk management program decides how to prioritise and respond to such hazards based on your organisation’s risk appetite.

A risk management program normally follows these steps, however, specific approaches vary-

  1. Determine the threats that could jeopardise your cyber security. This usually entails identifying your system’s cyber security weaknesses as well as the threats that could exploit them.
  2. Assess the severity of each risk by determining how probable it is to occur and what impact it will have if it does.
  3. Consider how each danger fits into your risk tolerance (your predetermined level of acceptable risk).
  4. Prioritise the dangers.
  5. Choose a strategy for dealing with each danger. In general, there are four options:
  • Treat – Alter the risk’s possibility and/or impact, usually by putting in place security controls.
  • Tolerate – Make the conscious decision to keep the danger (e.g., it falls within the established risk acceptance criteria).
  • Terminate – Totally prevent the risk by terminating or modifying the action that is producing it.
  • Transfer – Transfer the risk with someone else, usually through outsourcing or insurance.
  1. Monitor your risks to verify they are still acceptable, review your controls to ensure they are still fit for purpose, and make modifications as needed because cyber risk management is a continuous activity. Keep in mind that as the cyber threat landscape evolves and your systems and operations change, your risks will alter as well.

Why Hacker’s Security?

Quickly respond to and fix security incidents

Adapt your security strategy using a threat-informed methodology

Test and evaluate your security measures against the appropriate risks

Obtain information through digital forensic analysis and expert testimony in court

Let’s Secure