The knowledge gained through an Information Security Risk Assessment helps guide an organization in making rational decisions to improve security posture and align risk with acceptable tolerance levels.
Effective Security Risk Management
By understanding information security risk and the impact it may have on an organization, Pratum’s security consultants set the foundation for a formalized IT risk management program. Risk management is the ongoing process of identifying, assessing and responding to risk. As the first step in the security cycle of risk management, a risk assessment provides insight into the effectiveness of a security program and acts as a baseline for subsequent policy and control decisions.
Reasons for Information Security Risk Assessment
Information Security Risk Assessments assist organizations in making educated security decisions. Understanding one’s risk will help prevent arbitrary action. The entire process is designed to help IT departments find and evaluate risk while aligning with business objectives.
- Identify asset vulnerabilities
- Gather threat and vulnerability information
- Identify internal and external threats
- Identify potential business impacts and likelihoods
- Determine risk
- Identify and prioritize risk responses
Beyond baselining an organization’s security posture, information security risk assessments are also the first requirement outlined in federal regulations such as Sarbanes-Oxley Act (SOX), Gramm-Leach Bliley Act (GLBA) and Health Insurance Portability and Accountability Act (HIPAA). The Payment Card Industry – Data Security Standards also require merchants of all sizes to perform due diligence in assessing risk in their technology operations.
Pratum meets our goals and expectations. The overall agility of Pratum, the personnel we work with has been fantastic.Jeff Liles CIO - Harbert Management Corporation