Risk Management and Risk Assessment
Balancing Cyber Risks With The Needs of the Business
Taking risks is a necessary part of conducting business in order to create opportunities and help deliver business objectives. For any organisation to operate successfully, it needs to address risk and respond proportionately and appropriately to a level which is consistent with what risks an organisation is willing, or not, to tolerate. You need to manage risk.
Ultimately is all about balancing risks with the needs of the business.
Businesses rely on technology, systems and information to support their business goals and it is imperative that organisations apply a similar level of rigour to assessing the risks to its technology, systems and information assets as it would to other risks that might have a material business impact, such as regulatory, financial or operational risks.
Risk management is a mandatory requirement of a large number of information security standards and frameworks such as ISO 27001, SOC 2, NCSC’s 10 Steps to Cyber Security, CIS 20 Critical Security Controls and PCI DSS.
What does Risk Management and Risk Assessment involve?
Risk management is a coordination of activities to direct and control an organisation with regard to risk. It’s the overarching management of risk.
Risk assessment is the actual process of risk identification, risk analysis, risk evaluation and risk mitigation. The two processes should work hand in hand with each other.
Risk Management Consultancy Services
Romano Security Consulting can help you from the start in developing an information security risk management strategy, enabling you to take a pragmatic approach to risk management, whatever the size of your business or the size of the risks, we can design and implement a bespoke risk management solution for you.
This service will typically include support, guidance and advice on the following milestones:
Establishing risk governance and responsibilities
Defining and communicating the organisation’s approach to risk management
Establishing the scope and boundaries
Establishing communication lines with Stakeholders, Senior Management Team and the Board
Establishing, communicating and documenting a suitable risk management framework
Identifying assets, processes and data flows
Conducting a risk assessment, identifying, analysing and evaluating impact and likelihood, threats and vulnerabilities, threat surfaces and threat actors
Selecting suitable controls to mitigate identified risks
Producing a risk treatment plan
Defining priorities for risk treatment
Producing a risk register
Establishing an ongoing risk monitoring and risk review process
GDPR Data Protection Impact Assessment (DPIA) Consultancy Service
Under the General Data Protection Regulation (GDPR), Data Protection Impact Assessments (DPIA’s) are mandatory for any new personal data processing operations that are likely to result in a high risk to the rights and freedom of individuals or their data.
Our DPIA consultancy service assists you in conducting an assessment of the data protection risks associated with a new or existing single data processing operation within your organisation and recommendations on the appropriate controls to mitigate these risks.
G Cloud Approved Risk Management Consultancy
Romano Security Consulting are approved to supply our Risk Management consultancy services under the UK Government Crown Commercial Services G Cloud 13 Digital Market Place.
The Digital Marketplace is an online procurement service for any public sector organisations to procure services, resources and technology for digital projects, quickly and cheaply.
The G Cloud procurement process eliminates the need to go through a full tender process as suppliers have to apply to and be approved by the Crown Commercial Service via the G Cloud application process.
Please click on the button below to access our Risk Management consultancy services on the Digital Market Place.
