Build highly protected IT infrastructure with best practices for risk management in cybersecurity
Managing cybersecurity risks is more important than ever for enterprises in the current landscape where both cyber threats and regulations are constantly evolving.
Build highly protected IT infrastructure with best practices for risk management in cybersecurity
Managing cybersecurity risks is more important than ever for enterprises in the current landscape where both cyber threats and regulations are constantly evolving.
10 best practices for risk management in cybersecurity
Here’s an overview of best practices you should follow when setting up your cybersecurity risk management plan.
Create a risk-aware office
Internal risks are often overlooked and more damaging to your business security than external threats like hackers. More often than not, these threats appear as a result of ignorance, and a well-established cybersecurity training programme will go a long way in ensuring the security of critical information.
Ensure continuous monitoring
Continuous monitoring is essential to your cybersecurity efforts as your security team will not be able to determine threat vectors and formulate response plans without it. Utilising software solutions that automate this aspect will allow your team to perform at its best in responding to threats as they arise.
Follow an established framework
Leading cybersecurity frameworks provide in-depth guidelines on how to address the myriad of cybersecurity threats your organisation may face. Study the frameworks presented by organisations like the NIST, ISO, and Centre for Internet Security (CIS) and adopt a framework that works for your organisation.
Connect with core business systems
Managing cyber risks across the entirety of the business is a tall order that even very skilled security teams may struggle with. A cybersecurity risk management solution that can connect with other core business systems in your organisation makes the process of risk management in cybersecurity very convenient.
Develop an incident response plan
The speed at which you address risks is a huge factor when it comes to the success of containing cyber threats. A well-thought-out incident response plan will give your security team the necessary know-how to immediately address threats as they emerge rather than waiting for specific guidelines on each situation.
Get cybersecurity liability insurance
As cyber threats have grown to be a more impactful risk for businesses, the cyber insurance industry has also grown. You may consider getting liability insurance specifically for cybersecurity, as there is no guarantee that any cybersecurity risk management solution can be 100% effective against cyber attacks.
Make cyber risks visible
Understanding the types of cyber threats that your organisation is facing is key, and it should be visible to all levels of stakeholders. Utilising comprehensive reporting tools, visualised dashboards, cyber risk matrices, bowtie analyses, and root cause analyses will help everyone understand the extent of threats.
Utilise automated policy management tools
Automating the management aspect of IT policy will not only help with a more knowledgeable employee base but also improve operational efficiency. Keeping an updated library of the company’s cybersecurity policy will inform security teams, the management, and other employees to maintain accepted procedures.
Create a digital risk register
Risk registers help organise the array of risks that a company may be exposed to, allowing for easy identification and comprehension of the threat, consequences, and possible mitigation strategies. An up-to-date risk register can help delegate risk management responsibilities and maintain a risk-free environment.
Implement GDPR compliance
Compliance with the General Data Protection Regulation is a necessary requirement if you’re operating within the EU. Companies in Australia must comply with the Australian Privacy Act 1988, which has similar requirements to GDPR. Utilising cybersecurity software solutions that implement these guidelines is vital.
Reasons to set up cybersecurity risk management procedures
Setting up risk management in cybersecurity initiatives allows companies to reevaluate their IT infrastructure, identify critical weaknesses, and take initiatives to address them. Without a solid cybersecurity risk management plan, companies are exposed to a plethora of risks, internal and external, as business operations become more dependent on technology.
If a company’s infrastructure is breached as a result of cyber threats, it will not only suffer data losses, leaks, and downtime but also catastrophic reputation damages that will be infinitely harder to recoup. Well-devised risk management will minimise the likelihood of this occurring.
Data breaches are among the most harmful for businesses as they are known to cause extreme revenue loss due to recovery costs and potential legal penalties. A cybersecurity risk management plan is among the best investments you can make to protect your bottom line.
Your IT team will also thank you for the extended support as they will no longer have to spend extensive resources on routine protection and regulation activities and instead focus on everyday cyber concerns more effectively.
Create a robust cybersecurity strategy with SECTARA
Implementing an effective cyber risk management plan may seem daunting with the sheer extent of information present online. But, SECTARA aims to simplify the process of implementing cybersecurity in your organisation with our professional cyber security risk assessment solution, tailor-made to protect your business infrastructure.
Invest in a risk-free future with SECTARA.
Some of the industries we serve
Government
Identify, monitor, and manage systemic risks associated with policy implementation, public safety, and national security with a scalable and configurable risk assessment solution.
Critical infrastructure
Obtain insights to identify and mitigate potential threats to critical infrastructure like energy, transportation, and communication systems through professional risk assessments.
Mining
Ensure safe, secure, and efficient operations and overcome common mining challenges like equipment failure and environmental hazards via a professional risk assessment solution.
Defence
Obtain a comprehensive view of potential threats to national and regional security and implement effective risk management strategies with military-grade risk assessment solutions.
Healthcare
Ensuring the safety of patients, staff, and other stakeholders while managing risks associated with medical procedures and data privacy through a configurable risk assessment solution.
Finance
Identify, monitor, and manage critical risks like market volatility and data breaches with a risk assessment solution to protect stakeholder assets and ensure regulatory compliance.
Consultancy
Help your clients make informed decisions about risk management by leveraging insights from a professional risk assessment solution that helps identify, address, and monitor risks.
Cybersecurity
Protect your digital assets with our advanced cybersecurity risk assessment solutions. Stay ahead of evolving threats and fortify your defences with comprehensive risk assessments.
Education
Identify and mitigate compliance, finance, operational, and reputational risks in processes such as student selection and regulatory adherence with professional risk assessments.
Ready to take your cybersecurity risk management process to the next level?
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What you get with our free trial
2 users (Account Admin, Org & BU Admin, Assessor, Viewer)
2 concurrent assessments
2 organisations & business units
In product training
The ability to export assessments to MS Word
MS Excel treatment plans
White label SECTARATM platform
White-label exported documents
Audit records
Ready to take your cybersecurity risk management process to the next level?
What you get with our free trial
2 users (Account Admin, Org & BU Admin, Assessor, Viewer)
2 concurrent assessments
2 organisations & business units
In product training
The ability to export assessments to MS Word
MS Excel treatment plans
White label SECTARATM platform
White-label exported documents
Audit records
Start your 14-day free trial
