Risk management is an equally important component of SGRC. Willingness to implement it in itself indicates a certain level of maturity in an organization. If audits answer the question “what is happening to CS now?”, risk management helps answer the question “What will happen to the organization’s CS in the future?” and also try to change that future.
Risk management is a proactive response to potential problems in the cyber security system. Of course, this process can be translated by regulators through regulatory documents requirements but it can be very difficult to approach. The reason for this is the following two factors, which are not described in detail in almost any risk assessment regulation:
– Risk assessment methodology.
– Threats catalogs.
- Risk assessment methodology
The term “risk assessment methodology” in this article refers to a list of risk parameters and how they are calculated.
There are three key points in the creation and description of assessment methodology, without which the process is not possible:
– What is considered to be the risk level – a key parameter, on the basis of which risks will be prioritized?
– On the basis of what parameters is the risk level calculated?
– On what principle are risk parameters calculated?
