An ad-hoc approach to cyber risk management is a bad look to investors and clients. A hastily conducted risk assessment here, and a boilerplate policy there will not pass muster with serious players. They’ll quickly move on and use your company as an example of the type of organization to avoid. Of course regulators won’t move on. They’ll dig in, and the pain can be significant and far reaching. It doesn’t have to be this way. There are frameworks to align practices with and proven strategies for progressively strengthening your security posture which can demonstrate to interested parties your commitment to information security. This can make all the difference in winning business or getting that infusion of funds from investors. It can also help get the regulators off your back. Sometimes the biggest struggle is just knowing how to get started. I can help you here. Reach out and let’s have a chat.
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This is why we can't have nice things. There is no longer such thing as "cybersecurity" in the IT stack from which it was birthed. The evolution is to move and align cyber-related risks with the REST of corporate risk and governance. This would dramatically reduce the success of attacks and increase focused spending on these issues in business terms, with business outcomes. We need to get cyber out of the basement and into the real world with the rest of the adults. To try to keep it on its own and build tactical audit and compliance, R&Rs will continue to fail as it has for decades. Data is the problem. Govern the data. Do it in business terms. THEN, apply operational controls that measure outcomes in dollars and cents, not bits and bytes.
Investors ... we have a problem. While the new SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rules don't require that companies declare which cybersecurity standards they use, a very worrisome trend is emerging when we look for those citations. Companies seem to be confusing "risk management" with "compliance." Risk analysis means thinking through the likelihood and impact of harms that may occur. In the SEC's case, we need to consider risk of harm to investors. So why do so few companies who cite their cybersecurity controls standards also cite their risk assessment standards? It's the risk assessment standards that would estimate the risk to investors, no?
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How do you translate awareness into action when it comes to cyber risk? X-Analytics Cyber Reporting Service provides your board with continuous analysis and actionable guidance to protect your organization's financial interests. Experienced cyber risk management, corporate governance, and regulatory compliance experts across multiple industries provide actionable guidance and insightful decision-making tools. Find out more https://ow.ly/VkCq50SioJN
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Cyber Risk Alert!! As the Cyber Risk Advisor to the NACD (National Association of Corporate Directors) we have selected an approach that applies business, operational and financial context to cyber threats impacting your organization. Combined with a risk reducing strategy! Learn Below!! X-Analytics (SSIC) John Frazzini Peter Gleason https://lnkd.in/e4xyPgXf
How do you translate awareness into action when it comes to cyber risk? X-Analytics Cyber Reporting Service provides your board with continuous analysis and actionable guidance to protect your organization's financial interests. Experienced cyber risk management, corporate governance, and regulatory compliance experts across multiple industries provide actionable guidance and insightful decision-making tools. Find out more at https://bit.ly/3UctN9W
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"For the first time, this new X-Analytics (SSIC) reporting provides me with something actionable. It shows you're aligning your cyber strategy with the priorities of the business." -CEO @ a Publicly Traded High Tech Company It's extremely fulfilling to provide organizations and security teams with information they need to enhance their cyber resilience, and it's awesome to work w/ such a forward-thinking and impactful organization like the NACD (National Association of Corporate Directors). Kyle Ferguson Kevin Richards Christopher Hetner #cybergovernance #cyberrisk
How do you translate awareness into action when it comes to cyber risk? X-Analytics Cyber Reporting Service provides your board with continuous analysis and actionable guidance to protect your organization's financial interests. Experienced cyber risk management, corporate governance, and regulatory compliance experts across multiple industries provide actionable guidance and insightful decision-making tools. Find out more at https://bit.ly/3UctN9W
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Investors ... we have a problem. While the new SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rules don't require that companies declare which cybersecurity standards they use, a very worrisome trend is emerging when we look for those citations. Companies seem to be confusing "risk management" with "compliance." Risk analysis means thinking through the likelihood and impact of harms that may occur. In the SEC's case, we need to consider risk of harm to investors. So why do so few companies who cite their cybersecurity controls standards also cite their risk assessment standards? It's the risk assessment standards that would estimate the risk to investors, no?
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How does cybersecurity intersect with Operational Risk Management (ORM) in the investment management industry? Our latest whitepaper dives deep into the critical role of ORM in managing cybersecurity risks. It outlines how good planning can reduce large scale risk or operational failure in worst case scenarios. The paper provides key insights into understanding operational risk drivers, how to integrate cybersecurity within ORM frameworks and the essential role of a Chief Information Security Officer (CISO) in driving ORM. Don’t miss out on strategies to bolster your firm’s resilience against cyber threats. Read the full whitepaper now and discover how Adeptyx Consulting can guide your cybersecurity journey. Ari Fuad, CFA Richard Tweed Lars Ranger Runar Andersen Ryan Blackhall https://lnkd.in/gUs6A2BF
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Cyber risk management: What leaders can learn from Australia “As a society, we’re still lacking a solid basis for understanding cyber—it’s too often a case of ‘let’s bring in the expert to deal with this,’” he explains. “It’s important for boards to recognize that cyber is both a business risk and a technology risk. Technology risks don’t exist independent of other risks.” Read more here: https://buff.ly/3PfmI6O
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Introducing SmartRisk Agent :Revolutionising Human Risk Management 🚀 We have just unveiled SmartRisk Agent, a game-changing tool in the world of cybersecurity. Why it's brilliant: 📊 Real-time risk scoring: Assess individual employee risk instantly 🎯 Personalised training: Tailored learning paths based on risk profiles 🔍 Comprehensive insights: Gain a holistic view of your organisation's security posture ⚡ Automated workflows: Streamline your security processes effortlessly SmartRisk Agent™ doesn't just identify risks—it actively helps mitigate them. By focusing on human behaviour, it transforms your workforce into a robust line of defence against cyber threats. 🤔 Curious about how it works? KnowBe4's blog post offers a deep dive into this innovative solution. Check it out here: https://lnkd.in/eJHYdXKj #CybersecurityInnovation #HumanRiskManagement #KnowBe4 #SmartRiskAgent #AIinSecurity KnowBe4 Partners Benjamin Symons Teddy Burton Ellis Swindles-Rimmer Lewis Bramley
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🚀 Introducing SmartRisk Agent™: Revolutionising Human Risk Management 🛡️ Exciting news from KnowBe4! They've just unveiled SmartRisk Agent™, a game-changing tool in the world of cybersecurity. Why it's brilliant: 📊 Real-time risk scoring: Assess individual employee risk instantly 🎯 Personalised training: Tailored learning paths based on risk profiles 🔍 Comprehensive insights: Gain a holistic view of your organisation's security posture ⚡ Automated workflows: Streamline your security processes effortlessly SmartRisk Agent™ doesn't just identify risks—it actively helps mitigate them. By focusing on human behaviour, it transforms your workforce into a robust line of defence against cyber threats. 🤔 Curious about how it works? KnowBe4's blog post offers a deep dive into this innovative solution. Check it out here: https://lnkd.in/eFkk9dKf #CybersecurityInnovation #HumanRiskManagement #KnowBe4 #SmartRiskAgent #AIinSecurity KnowBe4 Partners Steve Gray Harry Fredrickson Ellis Swindles-Rimmer
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These are great questions to ask as well as “Is the cost of a control greater than the value it provides?” Too many times as security practitioners we assume a control has value but never set down and measure the true value of it.
"...sartorially he’s what you’d get if The Doctor decided to park the Tardis and spend some time in cyber security." - Andrew Peck
Another risk management question today. When carrying out a risk assessment, how do you (or do you at all) factor in the operational costs of existing controls? Should you? Most risk assessments I come across are very much point in time, with existing controls discounted to free, and new controls just considering implementation costs. This also applies to what I've seen of quantitative risk assessment in cyber security. We often find when working with clients on ISO 27001, or similar frameworks, that the only questions asked is 'what do we need to add?' Asking the questions 'what can we reuse from elsewhere?' and 'what can we remove?' makes a huge different (and takes away a lot of headaches). If you want to find out how to not just meet your compliance requirements, but do so in an efficient and sustainable way instead of layering processes upon processes and increasing your operational friction, get in touch.
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