Information Security Soultions

Risk Management Services for the information security issues is a wide-ranging area. There are numerous threats and vulnerabilities that are holding an organization throughout and hence these risks are also evolving.

Hence, the organizations ought to have a complete risk management program in order to identify, analyze, to unit, control and close the risk because it is a continuous process. In certain organizations, that is an ardent practice which at the apex level oversees the complete risk management function of an organization. The enterprise risks management having a detailed report from the different functional units of an organization provides a uniform representation of the risks which are documented and reflected to the senior management, based on it appropriate actions will be taken and proper budgeting can also be allocated. We can roughly say that it is a governance layer responsibility and accountability. In order to convey the Risk Management Methodology across the different functional units, we should have a clear understanding on the risks, the definitions of the risks, who is the owner and who can work on it to conclude to the risks, etc.

Financial Risk Management

Financial Risk Management is the practice of economic value in a firm by using financial instruments to manage exposures to risk, particularly credit risk and market risk. Other types include Foreign exchange, Shape, Volatility, Sector, Liquidity, Inflation risks, etc.

Operational Risk Management

Operational risk is defined as the risk of loss resulting from inadequate or failed processes, people and systems or from external events. This definition includes legal risk, but excludes strategic and reputational risk.

Information Security Risk Management

• The IT risk management is the application of risk management to Information technology context in order to manage IT risk.
• The business risk associated with the accessibility, ownership, operation, involvement, influence and adoption of IT within an enterprise.
• IT risk management can be considered as a component of a wider enterprise risk management system.
• The establishment, maintenance and continuous update of an ISMS provides a strong indication that a company is using a systematic approach for the identification, assessment and management of information security risks.

IT Services Risk Management

• IT controls result from an effective, risk assessment process. Therefore, the ability to mitigate IT risks is dependent upon risk assessments.
• Security requirements are identified by a methodical assessment of security risks. Expenditure on controls needs to be balanced against the business harm likely to result from security failures
• A risk is the likelihood of a threat agent taking advantage of a vulnerability and the corresponding business impact.

In practice

•  A fire can break out at your company;
•  An employee who does not work at the HR department gains access to  private or sensitive information;
•  Someone appears as an employee and tries to gain information;
•  Your company is hit by a power failure
•  A hacker manages to gain access to the company’s IT network.

Strategies Risk Management

A risk management strategy provides a structured and coherent approach on identifying,assessing and managing risk. It builds a process to regularly update and review the assessment based on the new developments or actions taken. A risk management strategy can be developed and implemented on even the smallest groups or projects or built into a complex strategy for a multi-site international organization.