Cyber Risk Management & ISO 27001 Strategy

Years of experiences

Culture eats strategy for breakfast - Peter Drucker

Knowing the risk is the first step towards achieving your goal. Welcome to the world!

Identify Cyber Assets and Threats

Pinpoint critical digital assets (data, systems, networks) and potential cyber threats (malware, phishing, insider threats).

Assess Vulnerabilities

Evaluate weaknesses in your systems, processes, and human factors that could be exploited by cyber threats by conducting assessments.

Risk Analysis

Determine the potential impact (financial, reputational, operational, legal) and likelihood of identified cyber threats exploiting vulnerabilities.

Risk Treatment

Define actions to mitigate, avoid, transfer, or accept identified cyber risks.

Implement Security Controls and Procedures

Put the planned cybersecurity controls into action. This includes deploying security technologies, enforcing policies, and training employees on cybersecurity best practices.

Monitor, Review, and Adapt Cyber Risk Management

Continuously monitor your cybersecurity posture, review the effectiveness of implemented controls, and adapt your cyber risk management strategy to address new threats and vulnerabilities.

Tailored solutions to identify, assess, and mitigate your unique digital threats and ensure business resilience

ISO 27001

This is a widely recognized international standard for Information Security Management Systems (ISMS). Certification demonstrates a structured approach to managing information security risks, including cyber risks, and involves independent audits.

NIST SP 800-30

Developed by the National Institute of Standards and Technology (NIST), this publication provides detailed guidance on how to conduct risk assessments for federal information systems and organizations. It outlines a structured process for identifying, analyzing, and evaluating risks.

COSO Framework

Committee of Sponsoring Organizations of the Treadway Commission framework, while primarily focused on enterprise risk management and internal controls, the COSO framework includes principles relevant to identifying and assessing risks, including those related to cyber security and adopted by the AICPA SOC framework. This focuses on the security, availability, processing integrity, confidentiality, and privacy of customer data. Achieving SOC 2 compliance,1 often through an audit and report, validates that service providers have controls in place to protect customer data against cyber risks.

ISO 31000

This international standard provides principles and guidelines for risk management. While not specific to cyber risk, its framework can be applied to establish and improve an organization's cyber risk management processes. Certification against ISO 31000 demonstrates a commitment to effective risk management practices.

COBIT (Control Objectives for Information and related Technology):

While primarily focused on IT governance and management, COBIT provides valuable principles and practices for managing IT-related risks within the broader enterprise risk landscape. The latest version is COBIT 2019.

Various Industry-Specific Standards:

Depending on the sector (e.g., finance, healthcare), there might be specific risk assessment standards or guidelines mandated or recommended by regulatory bodies (like FFIEC for financial institutions).

RBI Tokenization

RBI's Card Data Tokenization guidelines ensures secure transaction processing and protect card-on-file data for recurring transactions. They replace sensitive card data with unique tokens and manage risks associated with card data storage and processing.

Strategic Cyber Risk Governance and Framework Implementation

We help you establish a strong cyber risk governance structure, integrating cyber risk considerations into your overall enterprise risk management framework and aligning cybersecurity objectives with your business goals.

Centralized Cyber Security Policy and Documentation Development

We assist in creating and maintaining clear, comprehensive, and enterprise-wide cybersecurity policies, standards, and procedures that align with industry best practices and regulatory requirements relevant to your operations globally.

Executive Cyber Risk Reporting and Communication

We provide clear and concise reporting on your enterprise cyber risk posture to stakeholders at all levels, enabling informed decision-making and fostering a culture of security awareness across your organization.

Cybersecurity Awareness Training Programs for the Entire Workforce

We develop and deliver tailored training programs to educate all employees on cyber threats and best practices, building a human firewall across your enterprise.

Frequently Asked Questions

What is our plan to prevent, detect, respond to, and recover from cyber incidents that could significantly affect our business operations and reputation?

Effective cyber risk management isn't just about preventing attacks; it's also about being prepared when they inevitably occur. This question necessitates having well-defined incident response plans, business continuity strategies, and recovery procedures in place, tailored to the potential disruptions and regulatory requirements relevant to your organization and its global reach.

How vulnerable are our systems, data, and people to these identified cyber threats?

Knowing the weaknesses in your technology, processes, and employee awareness is essential to gauge the likelihood of a cyber incident occurring. This involves assessing the effectiveness of existing security controls and identifying areas needing improvement, considering the specific technological landscape and skill sets within your Chennai operations and globally.

What are our most critical digital assets and business processes, and what are the potential cyber threats that could severely impact them?

Without a clear understanding of what's most valuable and the specific threats that could disrupt it (ransomware, data breaches, denial-of-service targeting key operations in Chennai, etc.), organizations can't prioritize their security efforts effectively. This question drives the identification of high-impact scenarios.

Cyber Risk Management