Cybersecurity risk analysis

Given that cybersecurity is one of the pillars on which the digital transformation of companies is based, the establishment of cybersecurity risk analysis policies is one of the essential elements in the protection of business assets and operations.

Learn how to perform a cybersecurity risk analysis to protect your organization’s information and systems.

Cyber threats are becoming increasingly sophisticated, so it is becoming increasingly necessary for organizations to develop an IT security culture and take proactive measures to protect their information and systems. One of the most effective approaches to achieving effective data protection is through cybersecurity risk analysis.

A cybersecurity risk analysis process involves the identification, assessment and prioritization of risks associated with information security. The great advantage of this technique is that by conducting a comprehensive analysis, organizations can better understand the threats they are exposed to and make informed decisions on how to mitigate them.

Define the scope

The objective of this cyber risk reduction strategy is to perform an IT risk assessment through which cybersecurity risk mitigation is achieved. Like any strategy, cybersecurity risk analysis consists of several phases of execution. The first of all is to define the scope. In this case the cybersecurity department must decide whether the scope should involve the entire organization or only the most critical areas.

Once the elements to be analyzed have been decided upon, the impact of information security risks the organization’s cybersecurity managers will move on to the phases of identification and assessment of assets and threatsThe information system resources that are necessary for a company’s business processes to function correctly are identified.

Detect vulnerabilities

The path of the cybersecurity risk analysis strategy continues with the detection of vulnerabilitiesthat is normally performed with risk analysis tools. Conducting a vulnerability assessment is essential to prevent a successful cyber-attack .

Usually these vulnerabilities are related to the lack of application updates or the use of very weak passwords by users. It is also important to identify cyber threats and the impact they can have on an organization’s assets.

Evaluate risks

Since working in a 100% secure environment and preventing a successful cyberattack is also not guaranteed given that the cybercriminal will always be one step ahead in developing new, more sophisticated attacks, companies must assess the risks, to better protect those assets that are most critical to the organization.

It is therefore essential to establish a cybersecurity risk management framework to define what level of risk can be assumed by the company. This phase of the cybersecurity risk analysis strategy is one of the most important as it provides cybersecurity managers with a overview of assets susceptible to cyber-attacks and can focus on reducing them, starting with those that are most critical to the company’s operations.

In this way, it is possible to carry out actions to reduce cloud security risks network security risk management or to execute penetration tests. penetration tests and risk analysis. In addition, an accurate view of the company’s information-related assets will be available. In short, assessing risks will facilitate decision-making when it comes to investing in cybersecurity and will also reduce the time it takes to act in the event of possible security incidents.

Monitoring and review

Even if the company has completed all phases of cybersecurity risk analysis, constant monitoring and review of the assets that make up a company’s technological fabric is essential to prevent their recurrence, as well as to detect new vulnerabilities.
In this sense, having platforms such as Cloud & Cybersecurity by aggity helps the correct development of a risk analysis strategy by providing a cybersecurity incident response plan.