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Beyond the Buzzwords: What You Really Need to Know About Security and Risk Management

Security and Risk Management are vital components of any business, regardless of its size. But what does that mean? What steps should you take to mitigate your risk?

According to the top cybersecurity predictions revealed by Gartner, fifty percent of chief information security officers (CISOs) will adopt human centric design to reduce cybersecurity operational friction; large enterprises will focus on implementing zero-trust programs; and half of cybersecurity leaders will have unsuccessfully tried to use cyber risk quantification to drive enterprise decision making.

Security is no longer just about protecting your servers, networks, and data

In today’s modern environment, the protection of people and processes is equally as important. To achieve this, organisations must focus on four key areas:

  • Being proactive – anticipate potential risks before they become real threats.
  • Managing change – understand how changes in technology, business practices or regulatory requirements impact your organisation’s overall risk profile so you can mitigate them effectively.
  • Mitigating losses – develop a strategy that addresses each type of loss (physical theft or damage; information theft or disclosure; fraud) separately but holistically as part of an integrated approach to managing risk across all lines-of-businesses within the organisation.

Understanding the value of a cybersecurity posture

A cybersecurity postures is a way to measure your security program and identify areas for improvement. It’s a combination of technical controls, policies and processes that help protect an organisation from threats.

A good cyber posture includes:

  • Comprehensive risk assessment tools that use data from across all areas of your business (including HR, IT, finance and others) so you can see how they all impact each other
  • A strategy for detecting incidents when they occur
  • An effective incident response plan in place before a breach occurs

To establish a robust cybersecurity posture, you need to employ a blend of technical measures and policies and procedures that effectively support your IT security in line with your business goals. By doing so, you can foster positive relationships with stakeholders and clients, while also ensuring that your security measures are practical and effective.

Cybersecurity frameworks are the standard for security management

A cybersecurity framework is an organised set of methods and best practices that guide your organisation’s approach to managing risk. They make it easier for you as an organisation to:

  • Understand where you stand in terms of cybersecurity today
  • Identify areas for improvement, whether technical or organisational
  • Set goals for improving those areas

Consider the following frameworks to enhance your organisation’s cybersecurity posture:

ISO 27001: An internationally recognised standard that provides a comprehensive framework for managing information security across the entire business.

NEST guidelines: A valuable resource by the Australian Department of Employment and Workplace Relations for small and medium-sized enterprises seeking practical advice on cybersecurity.

Australian Privacy Act: Important regulations that businesses must comply with to ensure the privacy and security of personal data.

Essential 8: A set of guidelines by the Australian Cyber Security Centre designed to protect internet-connected networks that run on Microsoft Windows. The ACSC also offers alternative guidance for other operating systems, cloud services, and enterprise mobility.

Identity management and cybersecurity posture

Identity management is crucial for maintaining security in any organisation. Without a robust system in place to determine the identity of users, whether human or machine, other security issues cannot be effectively addressed. Access control is a major concern, and a strong identity management system allows you to determine who has access to which data and for how long.

With the right approach, security and risk management can be a powerful tool for helping to protect your business. Using this framework, you can understand what security means to your organisation, how it fits into an overall risk management strategy, and how to put these concepts into practice.

By taking a proactive approach to security and risk management, you can better protect your business. This involves understanding how security fits into your overall risk management strategy and implementing best practices to mitigate threats and vulnerabilities.

For more information please contact our cybersecurity professionals today.

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