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Risk

Managing IT risk is core to managing an organization. Understanding IT systems and their associated risk can help you reduce the cost of compliance, increase network security, protect information assets and achieve greater compliance. Organizations that do not recognize Risk Management as a key program are setting themselves up for serious security breaches, financial losses and possibly compliance fines.
For effective Risk management, IT Managers need to know what the areas of security concern, threats, vulnerabilities and risks (threat + impact) are. A successful, sustainable and repeatable Risk Management program has the following elements, does your organization?

• Utilizes the same risk management tools and common terminology as corporate Enterprise Risk Management team does?
• Receives security risk management training and support from top management?
• Integrates the business, IT, Information and human Assets into the risk assessment process?
• Meets compliance requirements?
• Incorporates existing controls and planned controls to result in a valuable Residual Risk rating?
• Build the risk management process right into the corporate system development life cycle or Project Management Office?
• Develop project to monitor security risks and mitigation strategies?

BRASC Consulting Services can assist your organization in understanding your current Security Risk environment, Security Risk Management Program, then map out a cost effective solutions that will mature your internal processes and practices. Specific security services include:

• Aligning ITS Security Framework to Corporate Risk Framework.
• Developing & Maintaining the Security Risk Universe
• Developing Security Risk Appetite as approved by IT Executives by providing direction to the setting of specific Security tolerances.
• Developing the Security Risk Ownership Matrix with Executive endorsement that outlines all Enterprise Security Risks and assigns an Accountable and Responsible Executive to each security risk.
• Conducting periodic High Level Security Risk Assessments
• Ensure alignment with corporate security policy and or industry standard such as ISO 31000 Guideline (An internationally recognized reference on Risk Management).