Identifying a risk is only half the battle. To build a truly resilient security posture, you need a disciplined approach to your Risk Register.
Here is the step-by-step workflow for effective risk assessment:
The Foundation: Identify your assets, the threats facing them, and the vulnerabilities within your current systems.
Current State: Audit your existing controls. What is already standing in the way of a breach?
The Calculation: Determine the Impact (the “what if”) and the Probability (the “how likely”) to find your Risk Value.
Ownership: Every risk needs a Risk Owner. They are the ones who decide if a risk is acceptable or if action is required.
The Response: Choose your countermeasure:
- Avoid
– Reduce/Mitigate
– Transfer
The “Now What”: Set a clear timeline to bring the risk down to an acceptable level.
Crucial Step: Don’t stop at the initial assessment! Always perform a Residual Risk Assessment. Understanding the risk that remains after your controls are in place is where true security lives.
How does your team handle residual risk?
Let’s discuss in the comments.
#CyberSecurity #RiskManagement #InfoSec #Compliance #RiskRegister