Security Risk Assessment

What’s the Weakest Link That’s Putting Your Business at Risk?

The First Step to Securing Your Network is a Risk Assessment.

A risk assessment identifies information assets the might be targeted by threats, assesses your business’s network and data security posture, and gains an understanding of prevalent and immanent threats to your business. As you identify and understand the threats and risks in your network, you can start making better decisions in what needs to be done to secure your network.

Why Do I Need it?

A security risk assessment is your blueprint for securing your network and digital assets. This is something that should be done regularly, because new vulnerabilities and threats are on the rise. Without an assessment you may not know, what you don’t know. It’ like being told to go fix a house, but you don’t know what is broke. You don’t’ know what tools you need. It is a vital step in securing your infrastructure.  It allows you to identify potential risks, evaluate the impact of the risks, and develop mitigation strategies.  It is a requirement for many regulatory compliance.

How Does it work?

The best risk assessments are a collaborative effort with the business units and IT. IT has the tools to test for threats and vulnerabilities, knowledge to know how to protect, and understanding of controls. Whereas the business units know what data is most sensitive, and valuable to the business. They also know how they consume and work with the internal and external assets. A collaborative effort will yield the most impactful results.

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Determine Value of Information Assets

Formulate a way and document to determine the importance of an asset in your network. What if you lost that asset? Would it matter? How much?

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Prioritize Assets

Prioritize your assets to what is most valuable and identify what and how they will be assessed? Each device may need a different tool to identify the risks.

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Identify Threats

Outline the threats including physical threats, system failures, digital threats, human error, that could cause harm to your business.

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Assess Vulnerabilities

Identify the vulnerabilities on your network, devices, cloud, people. What can be exploited that an attacker can use to breach your systems or cause harm? This is something to look at logically as well as use tools to identify known technical vulnerabilities.

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Analyze Existing Controls

Now that you understand the assets, their value, and the risks, it is time to determine what controls you have in place to stop or mitigate these risks. If you don’t have a control in place, what can you put in place to protect your business?

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Document the Process

There are many compliance standards that require this entire process to be documented. This will help you understand what you have learned, make the process repeatable, more efficient, and look back at your security posture and actions.

Regularly Repeat

Rinse and Repeat. This must be done a regular basis. The threat landscape is constantly evolving and networks change. Personnel changes and knowledge transfer can also be lost.  That is why this should be at least an annual occurrence to help you keep your business and assets protected.

What Next? Ongoing Risk Management

As mentioned, a risk assessment is just that. An assessment to understand the problems and solutions. The next step is development a risk management strategy. This includes managing, implementing, preventing, and responding to these risk. This is an ongoing process and discussed weekly or monthly to ensure you are continually improving your security.  There are many benefits benefits of an ongoing Risk Assessment Strategy.  Just a few are mentioned below.

Mitigate Risk

As you understand your vulnerabilities and threats and start to take corrective action you minimize the risk of a breach and dark web exposure.

Prevent Data Loss

As you take a more proactive approach to security, preventing or stopping attacks, you prevent data loss and protect your business.

Reduce Long-Term Costs

Preventing a breach or just minimizing the exposure can save your business significant revenue and potential reputational damage.

Create a Security
Minded Culture

Being Pro-active and taking security seriously, you create a culture where everyone takes it seriously. This type of reputation can be good for employee morale and customer loyalty.

Improve Organizational Knowledge

Maintaining network documentation, asset history, known vulnerabilities, and controls will help your organization respond more quickly and retain knowledge.

Avoid Regulatory Compliance Issues

By following these best practices, you avoid hassles in complying with new regulatory standards regarding technology.

We Care About Protecting Your Business.

You don’t have to tackle this alone. Our experienced team of engineers has the knowledge, tools, and experience to perform the risk assessment and provide a full report with recommendations.   Let our experts provide you with a free risk assessment today.  Please complete our form and a representative will be in contact with you to schedule an engineer to evaluate your environment and formulate a prevention plan.

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Frequently Asked Questions

Find the answers to questions that most new ISOCNET clients have, designed to help you select the right business plan for your needs

A risk assessment is a snapshot in time of your current state vs risk management is an ongoing process of managing, mitigating, and responding to risks.

Yes, part of your risk management is responding to compromises. It is important to have something in place to allow you act quickly, minimize exposure, and recovery quickly.