Key Advantages of Risk Management Systems
Having a risk management system in place is a wise decision that every organization, regardless of its size, nature, or professional sector, should make. Putting a stop to potential threats that may jeopardize business security, anticipating them, and taking action in advance is an intelligent way to manage a company..
Thanks to a cybersecurity risk management system, businesses reduce the uncertainty of potential threats and attacks they may face in the short and long term. Therefore, implementing a cyber risk management system offers multiple advantages within the structure of each organization.
- A cybersecurity risk management system helps identify and control the short and long-term risks and threats to the company. It is a technological tool that allows for the consolidation of all business information..
- It is designed to address any organizational change or incident with a guarantee of success. It is flexible software that adapts to constant updates in industry regulations and standards.
- It facilitates decision-making and strategic and tactical planning for the business. Furthermore, the best tools enable integration and combination with other information systems to enhance the effectiveness of risk control.
- Through a cyber risk management system, compliance with objectives is ensured in the face of any uncertainty affecting the company.
- Its operation establishes action plans for potential operational or reputational crises for the organization at all times.
- It minimizes downtime after any attack and improves recovery time. Implementing a business security risk system not only provides solutions but also serves as a learning experience to address and resolve future incidents.
- It establishes customizable parameters according to the desired management method, variables, and controls to be analyzed.
- It promotes and enhances business continuity.
Cyber risk management brings benefits to the internal structure and enhances how external stakeholders perceive the organization’s commitment.
- Having a cyber risk system in place in the business increases the trust of suppliers, employees, customers, and potential investors. It enhances their image and relationships with third parties.
- It provides support to customers facing any issues, allowing them to turn to the organization immediately, following the risk management plan.
- The software makes it easy to access business information, action plans, and company policies. It is a very useful reference tool.
Who Manages Cybersecurity in Companies?
The technical staff responsible for cybersecurity management in companies is in charge of carrying out the necessary actions to detect, prevent, assess, and mitigate business risks In many companies, there is a designated person responsible for these matters called the CISO (Chief Information Security Officer), a professional responsible for safeguarding an organization’s digital security. To do so, they implement policies designed to protect information.
Among their functions are:
- Proposing information security policies based on normative standards, models, and best practices.
- Installing and configuring the risk management system for security.
- Contributing to the investigation of possible cybercrimes and future threats that could harm the company.
- Understanding the information and protecting the business with appropriate security measures for the type of information.
- Explaining and helping employees understand cybersecurity policies.
- Designing strategies and defensive systems against threats and malicious agents.
- Monitoring systems to detect unusual activities that are suspicious of jeopardizing the organization’s security.
- Implementing action protocols to counter threats and reporting incidents.
- Testing strategies through audits to test defense systems and preparing reports based on the results obtained.
- Updating sector regulations and regulations to ensure compliance.
- Understanding current cybersecurity trends and cyberattacks that help expand the knowledge of technical personnel.
- Granting permissions to authorized personnel.
- Performing system recovery reports.
Need Help Implementing a Cybersecurity Risk Management System?
At GSS, we can assist you in implementing an effective risk and cybersecurity management system. Our services include:
Cybersecurity Risk Map:
- Objective: To obtain an assessment of the organization’s control situation against various types of cyberattacks that the entity may suffer on its information systems. A methodology that values the effectiveness of controls will be considered. For situations where protection against cyberattacks is not as desired, a treatment plan with actions to reduce the risk will be proposed.
- Result: An updated cybersecurity risk map reflecting the organization’s weaknesses in the face of potential threats and cyberattacks.
Cybersecurity Management Audit:
- Objective: Conduct a comprehensive cybersecurity management audit in the company. Verification of the management of security controls implemented to verify their effectiveness. Organization, management, technical, technological, and business continuity controls will be reviewed. A report with findings classified by severity will be prepared for prioritizing their correction.
- Result: The status of security controls implemented in the organization, with vulnerabilities classified by criticality.
Cybersecurity Master Plan:
- Objective: A comprehensive review of the organization’s current cybersecurity situation, analyzing the effectiveness of existing controls and identifying possible vulnerabilities. A situation report will be prepared reflecting the current state. A master plan with all necessary projects, prioritized, will be prepared so that, after execution, the cybersecurity management situation in the company meets its needs and resources.
- Result: Action plan with security projects to be undertaken by the organization to address identified security deficiencies.
Implementation of an Information Security Management System (ISMS):
- Objective: Based on ISO 27001 or the National Security Scheme, the implementation of an ISMS that complies with all the requirements of the corresponding standard will be carried out. This way, a management system will be in place that includes security policies and guidelines, security risk analysis, and security control management, all within a continuous improvement cycle.
- Result: The organization can apply for certification according to ISO 27001 or the National Security Scheme.
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