Cyber Risks And Security Control - 1337 Words

CISOs have limited resources, yet cyber risk is growing Organizations need to know which security control measures matter the most – and know where to implement those controls in their expanding borderless enterprise. However, every control everywhere is not financially sustainable. A risk-based perspective, leveraging threat-based assessments based on attack scenarios, complements a traditional Risk and Controls Matrix, and empowers a more effective GRC program. Growing volume and sophistication of cyber attacks Cyber risks are constantly changing. Think about the rate of change in your business, its use of technology and the threat landscape compounded together. With the resulting change in threat means, motives and opportunities it’s†¦show more content†¦You must think of your organizational assets from the eyes of an attacker motivated by crime, espionage, hacktivism and even warfare. Cyber-attacks are in the news headlines, and are rising up on board agendas The National Association of Corporate Directors (NACD) expects organizations to evaluate their current and future risks and to inform the board of emerging risks on a timely basis. Consequently, every company’s leadership team should periodically ask themselves some basic questions in order to understand cybersecurity risk as it applies to themselves; †¢ What are our critical assets and how do we know? †¢ What data, and how much data, are we willing to lose or have compromised? †¢ How should our cyber-risk mitigation investments be allocated among basic and advanced defenses? †¢ What options are available to assist us in transferring certain cyber risks? †¢ How should we assess the impact of cyber events? †¢ What are our Top Threats and how do we know? How should I use security assessments to maximize protection with scarce resources? Most security assessments fall into three camps. Each has its own set of strengths and weaknesses, and no single type is sufficient to protect an organization’s assets: †¢ Compliance-based security assessments †¢ Framework-based security assessments †¢ Risk-based security assessments. Compliance-based Security Control Assessments Every organization is subject to regulatory and