RCSA Framework: Secure Posture, Without the Stress
TL,DR: Risk and Control Self-Assessment (RCSA) helps organizations identify operational risks, evaluate impact and likelihood, and measure control effectiveness using two formulas: Risk Score = Impact x Likelihood, and Residual Risk = Inherent Risk minus Control Impact According to McKinsey, businesses globally lost over $600 billion across 65,000 risk events between 2017 and 2021, reinforcing…
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Aug 22, 2024
Enterprise Risk Management Strategy and Frameworks
A 2022 survey on Enterprise Risk Oversight found that 60% of respondents believe the volume and complexity of risks have increased recently. However, only about a third of organizations have comprehensive Enterprise Risk Management (ERM) processes in place. This is largely because there are no clear, universal rules for implementing ERM. So, what is enterprise…
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Aug 20, 2024
What is Key Risk Indicator ? How to measure KRIs
Maintaining constant oversight and proactively responding to threats remains one of the biggest challenges for most security professionals. And while they do go that extra mile to strengthen their security posture and minimize any damage, no effort in this regard can be truly effective without strong Key Risk Indicators or KRIs in place. A KRI…
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Aug 20, 2024
Implementing IT Governance Frameworks: Best Practices for Business Alignment
TL,DR: An IT governance framework aligns IT strategy with business goals by guiding the implementation of governance practices. Examples include COBIT (IT and business alignment), ITIL (service management), and ISO 38500 (international governance standard) IT governance ensures that IT investments contribute to improved performance by establishing policies that guide resource use, minimize risks, and achieve…
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Jul 23, 2024
What Constitutes a Good Third-Party Risk Management Policy?
In a recent Gartner survey, 84% of the respondents (who were risk committee members) claimed that third-party risk gaps highly disrupted their business operations. Any organization that relies on third-party vendors for critical business functions should develop and maintain an effective Third-Party Risk Management policy. A strong third-party management policy can go a long way…
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Apr 05, 2024
