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Risk Assessment

Risk Assessment Services

Citadelle Networks works with your team to establish an operational risk management program. Risk Assessment is vital when building an information security program. Both risk management and assessment take the process of businesses and technology into account.

Risk management is carried out for assessment, mitigation and observation of risks to an organization. Information security risk management and risk assessment is a huge subdivision of the organization’s risk management process, which is inclusive of the evaluation of information, security risks to the institution, and also the level of appropriate management actions that help make choices for managing and executing controls to protect against those risks.

The risk management process includes setting organizational arrangements and choosing the right decisions, in the name of the institution’s “appetite for risk”. The main decision-making process about risk acceptance has to originate from institutional leadership. Information security institutions may regulate the risk management program but it becomes compulsory to reason with the institution’s authority about handling risks that cannot successfully be minimized. The Risk Management Framework delivers useful advice to help with developing the processes

Asses and choose risk management and risk assessment methodologies:

  • ISO/IEC 27005:2011 provides the pathway in upholding a risk management program, and showcases how to administer each stage of risk management which includes; identification, assessment, treatment, monitoring and reviewing
  • NIST Special Publication 800-39, Managing Information Security Risk: Organization, Mission and Information System View, depicts the basics and the flow of completing risk assessments
  • NIST Special Publication 800-30 Revision 1 is a Pilot For Administering Risk Assessments
  • ISO/IEC 27002:2013 is an international standard that assists companies with assessing information security controls and conducting risk treatment functions
  • NIST Special Publication 800-37 Revision 1, Guide for Applying the Risk Management Framework, offers the direction in analyzing controls and applying risk treatment methods
  • The HEISC Risk Management Framework is closely set with the advice deployed in the NIST publications cited above
  • ISO/IEC 27005:2011, used together with the above framework, deploy a supportive and all-inclusive approach to identifying, assessing, and handling risks

This process can be widely divided into four components:

  • Risk Assessment
  • Risk Treatment
  • IT Security Risk Consulting
  • Firewall Penetration Testing

Risk assessment distinguishes, gauges, and computes risks according to risk acceptance and objectives relevant to the organization. The assessment results steer the urgency of worthy management effort and preference for managing information security risks and implementing authority that is meant to prevent risks. The assessment should be made up of a systematic approach to assess the level of risks and a comparison that estimates risks against risk criteria to identify the magnitude of risks.

The playing field of risk assessment can either be the entire organization, sections of the organization, an individual information system, or even specific system components or services. Conducting a risk assessment in areas that have a technological infrastructure also includes performing vulnerability assessments to help establish risks.

The process of quantifying risks and vulnerabilities need to be done at repetitive intervals, especially if a gradual move is chosen so as to ensure all-inclusive and efficient results are gained. This will ensure that continuously evolving changes in security requirements and significant changes are evaluated. For instance, IT will be introducing new products or services every year and new or additional risks may be introduced because of vulnerabilities that can be taken advantage of.

Once a risk assessment is done, risk treatment is what comes next. For every potential threat noticed during a risk assessment, a risk treatment decision has to be made. Options for risk treatment include:

  • Admittedly and objectively acquiring risks, as long as they rightfully satisfy the policy of the organization in terms of risk acceptance;
  • Deploying the best controls to mitigate risks
  • Preventing risks by avoiding actions that would lead to them;
  • Shifting risks to other parties, for instance, insurers or service providers.

Consoles should be carefully chosen to make sure that risks are reduced to a tolerable level. Also look out for the sustainable federal, state, and local statutes and other coherent laws. Also, consider the organization’s goals and objectives, functional demands and problems, the cost of incorporating efficient controls in relation to the potential threat of not adopting them, and the charges that will accrue from one or several security failures.

It should also be known that even after tending to all existing risks, achieving a ‘state of complete security’ is not likely to happen. Making constant improvements through ongoing risk management actions will create a very positive environment.

A vulnerability assessment can be defined as a list of all vulnerabilities that is often considered as a technical test (e.g. network scanning). However, a full vulnerability assessment would be inclusive of the network, mission-critical system, physical environment, and processes.

The risk assessment looks to those threats in place of other elements of the risk formula – threats and impact which involve the idea of asset and value – so as to provide the potential relief that might be applied.

Risk management involves risk assessment and vulnerability assessment alongside mitigation. It also involves measuring the final result of the process and repeating the process over and over.

Expand the information security risk management program:

  1. Adopt and adhere to certain methods described in the standards and guidelines listed in the first point above.
  2. Complete a professional information security risk assessment across the whole organisation
  3. Take a stage or phased or gradual approach if the organization is huge or has decentralized IT operations
  4. Outsource risk assessments to another third-party service providers in case you lack the resources to do so
  5. Reanalyze risks and vulnerabilities on an ongoing basis as each risk assessment is just but a short stage at an interval in time.
  6. Explore the application of GRC solutions that are in a position to help with the development of a formal risk management system.
  7. Security Solutions We can collaborate with your team to produce GRC solutions.
  8. Review the existing state and a periodical base

Cyber Security Operations Consulting delivers the technology and methodical techniques to detect all risks that can potentially influence your organization and automate risk scoring with delicate models.

  • Risk Register: Explains the potential risks in connection to activities in the institution. It captures everything including vendor interaction, finance, sales and any marketing activity.
  • Risk Assessments: Stakeholders in the business risk magnitudes such as impact and likelihood of using a customizable risk computation scale.
  • Risk Modifiers: Activity-based risk drivers are introduced to modify risk scores in order to capture new business-driven risk factors.
  • Final Risk Scoring: Configurable algorithms measure weighted risk scores for use on dashboards & reports.
  • Security Risk Management And Threat Consulting
  • Risk Management and Compliance