What is Cybersecurity Risk Management?

What is Cybersecurity Risk Management?

Managing the risk posed by ineffective cybersecurity protections is an ongoing part of all business operations. The threat landscape is always changing. New exploits are discovered, followed by patches released to fix them. New potentially vulnerable devices that increase the attack surface are frequently added to the network. This is especially true with the significant growth of Internet of Things (IoT) devices and sensors that are being placed in many physical locations.

Ensuring that cybersecurity protections are maintained over time is essential. After an initial Vulnerability Risk Assessment has identified all of the organization’s digital assets, and reviewed existing security measures, there is a need for ongoing Cybersecurity Risk Management as the organization and the external threat landscape evolves.

What is Cybersecurity Risk Management?

Cyberattacks are not random. If you know where to look, there are usually signs of a planned attack against an organization. Telltale markers of an imminent attack include mentions of the organization on the dark web, the registration of similar domain names to be used for phishing attacks, and confidential information, such as user account credentials, put up for sale.

Many organizations don’t maintain an ongoing review process of their cybersecurity risk after they do an initial Cybersecurity Risk Assessment. This can lead to a false sense of security due to the initial assessment and any steps taken to bolster security. But, as mentioned above, the threat landscape and the attack surface are continuously changing.

Cybersecurity Risk Management must be continuous in order to maintain protections. Other factors beyond the changing threat landscape also affect existing cybersecurity risk planning. Regulations are often changed, or new ones introduced. The risks associated with these changes need to be analyzed, and cybersecurity policies and procedures changed to ensure compliance.

A Cybersecurity Risk Management strategy implements the four quadrants that deliver comprehensive digital risk protection:

Map - Discover and map all digital assets to quantify the attack surface. Use the map as a foundation to monitor cybercriminal activity.

Monitor - Search the public and dark web for threat references to your digital assets. Translate found threats to actionable intelligence.

Mitigate - Automated actions to block and remove identified threats to digital assets. Includes integration with other security initiatives in place.

Manage - Manage the process used in Map, Manage, and Mitigate quadrants. Management is essential to successful digital risk protection.

What are the Benefits of Cybersecurity Risk Management?

Implementing Cybersecurity Risk Management ensures that cybersecurity is not relegated to an afterthought in the daily operations of an organization. Having a Cybersecurity Risk Management strategy in place ensures that procedures and policies are followed at set intervals,and security is kept up to date.

Cybersecurity Risk Management provides ongoing monitoring, identification, and mitigation of the following threats: 

  • Phishing Detection
  • VIP and Executive Protection
  • Brand Protection
  • Fraud Protection
  • Sensitive Data Leakage Monitoring
  • Dark Web Activity
  • Automated Threat Mitigation
  • Leaked Credentials Monitoring
  • Malicious Mobile App Identification
  • Supply Chain Risks