Why a Risk-Based Approach to Cybersecurity is important:
LogicManager’s Cybersecurity Risk Management Program
- Surface risk insights and concerns from your frontline IT managers through our standardized Cybersecurity Risk Assessment to ensure you’re identifying where you are most vulnerable.
- Customize the LogicManager home screen to bring your end-users directly to their tasks needed to build the cybersecurity risk assessment to ensure everything is completed in a timely manner.
- Our comprehensive Risk Library, organized by common root-cause sources of IT-related threats, helps you design controls that more effectively mitigate systemic risks.
- Using our Enterprise Heatmap, create visualizations on which areas of your business need additional resources or auditing to strengthen the security of your enterprise.
- Use LogicManager’s Control & Control Suggestions feature to automatically leverage existing departmental or entity controls to make your IT program more efficient.
- Experience a robust Reporting & Dashboards system that makes it easy to drill into data such as infrastructures with the most critical risks, server-specific risk factors, IT policy adoption, and much more.
FREE DOWNLOAD:
A Guide to Improving Your Cybersecurity Risk Management Program
A Guide to Improving Your Cybersecurity Risk Management Program
Risk managers can’t improve their cybersecurity program alone. They need a risk-based approach to mitigate cyber risk across their enterprise.
Achieve your Cybersecurity Risk Assessment with LogicManager
Align with best practice frameworks
Having a comprehensive cybersecurity program aligned with industry standards is central for secure operations. LogicManager automatically aligns your efforts with ISO, NIST, SOC 2, PCI, the AICPA and many other IT frameworks so you don’t have to reinvent the wheel.
Automate your processes
LogicManager’s task management capabilities automate the risk and compliance assessment process. You can also automatically ensure that the risks you’re considering are up to date, relevant and within tolerance. Then, quickly raise issues and action items on any gaps that are identified, keeping employees engaged in your cybersecurity program.
Identify critical gaps
Completing a cybersecurity risk assessment helps you identify critical areas that may be outside of an acceptable tolerance. LogicManager’s risk templates provide a baseline risk appetite statement, so you don’t have to start from scratch. This helps prevent you from ever being caught by surprise.
What is a Cybersecurity Risk Assessment?
Completing a cybersecurity risk assessment means deciding what could go wrong should an IT risk materialize, and subsequently determining the impact, likelihood, and assurance of that risk. The types of systems involved include your networks, infrastructure, policies, servers or applications. An enterprise-wide assessment (separate from your cycle of readiness assessments performed to evaluate alignment with IT compliance frameworks) typically takes about 30-60 days to complete and is performed at least every 1-2 years.
Your cybersecurity risk assessment should not be viewed as mutually exclusive from your IT risk management program; to understand the relationship between the two, think of your cybersecurity risk assessment as a point-in-time review of your organization’s people, applications, policies, and procedures with a goal of uncovering vulnerabilities. Simultaneously, IT risk management is an ongoing process where you are mitigating, monitoring, and reporting on all of those risks identified and working continuously towards preventing them.
Let’s say your company’s database was hacked. When things hit the fan, can you demonstrate that you were doing everything correctly on your end? Did you follow guidelines and review their effectiveness? Could you quickly present relevant and accurate information to examiners or auditors? Assessing cybersecurity risk ahead of time through automated software significantly reduces the manual time and re-work typically associated with this process.
Cybersecurity Risks
In today’s business environment, technological advancements easily outpace regulatory requirements and standards. Such advancements prove to be a double-edged sword; although this streamlines operational capacity, reduces costs, and increases efficiency, it also opens up new vulnerabilities. New technologies mean new tools for both businesses and attackers alike, but the more you rely on technology, the more exposed you are to related weaknesses. Some common cybersecurity threats today include:
- Hacking, resulting in data loss or theft
- Impersonation of executives to retrieve confidential information
- Knowledge, privilege or data abuse
- Unapproved hardware or software installation
- Polymorphic malware
Cyber risk does not discriminate; any organization operating today inevitably has countless cyber aspects to its operations. Whether it’s touchpoints with other applications or platforms, employees processing potentially sensitive data, or maintaining an online presence, cyber risk is never a hypothetical.
