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How to build a cyber risk program

Digital Transformation is defined as the process of exploiting digital technologies and supporting capabilities to create a robust new business model which is led by executive management or at the board level. But is it also an opportunity to build a security strategy to align cyber risk to desired business outcomes?

According to IDC (Source – Worldwide CISO Influence Survey 2018), business leaders and CISOs view information security as vital to competitiveness of products and services while protecting the interests of their customers.

Areas an Enterprise Cyber Risk Program should cover

When an organization promises to deliver the value of digital business to customers, it’s often the case that security is not at the table when critical decisions are being made. Without security representation at the right time, organizations are exposing themselves to business critical risks that could severely damage their brand.

As organizations continue to expand their digital footprint, an Enterprise Cyber Risk Program should be an integral part of the plan and should cover the following four areas:

  • Understanding and protecting your data.
  • Securing your applications.
  • Ensuring appropriate access.
  • Identifying and responding to incidents.

Questions to consider when building an Enterprise Cyber Risk Program

Here are some questions to consider as you build your program:

  1. What is your most critical and sensitive data? Where does it reside and how should you classify and protect it?
  2. With 90% of exploits being attributed to code defects in applications, how are you securing what has become the main entry point to your environment?
  3. How do you assure that the right people and things have the right access to the right data at the right time?
  4. It’s easy to monitor for security incidents that you are looking for, but how do you detect the ones that you have missed and drive them back into your automated detection and response processes?

OnX Canada can help you

If you would like to discuss in more detail, please email security@cbts.com

 

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