Workable risk management

When considering developing a risk management plan, every chief information security officer (CISO) should take the following points into consideration. First, you really need to define your current level of risk exposure. This fluctuates with each internal change to networks, new external threats and ongoing regulatory requirements.

Then, it's worthwhile to consider what your top security risks are and question which assets are exposed to the most significant threats with the highest damage potential.

You will want to define how susceptible you are to the next cyberthreat. Knowing which threats will affect you prepares you to take necessary emergency actions.

Determine whether you are in compliance with your documented security policies. Changes in one segment of the environment can have unintended consequences on other areas.

Measuring the value of security investments is important. When making an investment to improve security, risks should be reduced and focused on remediation programs and technology that have the greatest impact.

Effective risk management requires an up-to-date understanding of risk levels based on an ongoing monitoring program that decision-makers can trust. By taking a holistic view of threats, vulnerabilities, network access policies and potential business impacts, businesses are better able to identify, visualize and quantify information security risks.