Enterprise Risk Management
Failure to adequately identify, test, monitor, trend, and actively report on enterprise-wide cyber risks creates significant financial, regulatory, reputational, and operational exposure for the organization.
Many enterprise risk management (ERM) processes focus on obvious risks that have the most potential for severe impact. This approach sacrifices the opportunity to identify emerging risks, especially catastrophic tail events that may have a higher impact across the business over time. Frameworks that primarily focus on a severity approach can result in security blind spots. At 4A, we work with clients to create a clear path for ERM that takes a holistic view of the enterprise, from internal systems, external operations, and the supply chain.
CyRisk – the key to aligning security and risk management strategy
We developed CyRisk™ to help our clients identify, measure, and prioritize critical risks, so they are able to make better, risk-conscious decisions that are aligned with their security and risk management strategy. 4A Security’s quantitative risk analysis enables clients to incorporate objective, fact-based analysis into their enterprise risk management process as well as their security investment decision-making process. This process also results in ensuring that the strategy includes appropriate risk transfer and that they fully understand the cost of the risk they “own.”
Deep analysis is critical to understanding risk
4A Security’s approach combines elements of some of the most respected and rigorous Risk Assessment and Management methodologies and tools, with our own proprietary methods. Our quantitative analysis allows organizations to translate cyber risk into actual financial risk as opposed to highly subjective qualitative ratings such as high, medium and low. In addition, 4A Security’s approach allows for deeper analysis of cyber risk aggregation effects, that are frequently overlooked by many commonly used ERM approaches.
We’ve developed processes and tools for Risk Evaluation and Management as well as Compliance Assessment to help clients meet the information security and risk management requirements of such regulatory regimes as HIPAA, FERPA, and the industry requirements such as PCI for our clients.
4A Client ERM Services
- Security & Privacy Risk Assessment
- Risk Register identifying and tracking cyber risks and mitigation activities
- Cyber risk probability distributions that provide ranges of likelihood and impact with assigned confidence intervals
- Cyber Risk Dashboard identifying the consequences of risk impact scenarios
- Guidance on the selection of Risk Transfer Strategies including the review of contractual agreements and the evaluation of cyber insurance coverage
- Executive Risk Communication Reports for the C-Suite and Board to provide facts in support of the decisions they will have to make to manage cyber risk keep their business safe and financially healthy