What to include in a Risk Assessment

A thorough Risk Assessment is a critical tool for identifying if an asset, process or venture is adequately secured.

It provides your organization with an analysis of potential threats and the existing level of security, so a determination can be made on the need for either additional or fewer security controls.

We've made a quick guide on what to include in your Risk Assessments to ensure you're getting a clear overview.

What to include in a Risk Assessment

Are you making security tasks and requirements fast and simple enough?

Modern workplaces are full of distractions. Bombarded with emails and colleagues asking questions, employees are juggling multiple deadlines and dividing their attention between different devices and tasks.

This creates problems for implementing and managing security processes, policies and prevention measures. Mistakes and shortcuts are more likely to be made, and some tasks may even be completely forgotten.

Simplifying and streamlining security management and implementation means the right choice is the easy choice. How are you addressing this in your organization?

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Compliance is increasingly resource-intensive, how is your security team increasing compliance efficiency?

There are a growing number of regulations, guidelines, frameworks and expectations that organizations must comply with. The costs of non-compliance, both financial and reputational, are also getting higher.

Given the significant time security teams are already spending on managing compliance, increasing compliance efficiency is becoming ever more urgent. Many teams are turning to technological solutions to help them get clearer oversight of their programs and processes, particularly as they seek to leverage compliance as a continuous improvement tool, rather than merely as a requirement.

How is your team increasing its compliance efficiency?

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How does your team enable cross-functional security conversations?

What strategies are you using to get your organization talking more about security?

Businesses are paying closer attention to security issues, and there is increased media coverage of security-related events and losses. However, some security teams still operate in isolation and struggle to work effectively with other functions to manage, mitigate and respond to risks.

There are several tactics that teams can employ to work and communicate better cross-functionally.

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Data is a Security game-changer

Harnessing data is often seen as the cure for a lot of industry ails, however most companies are not at the stage of being able to implement data analytics processes and platforms. In fact, in my experience I often get the impression that even being able to collect data is a big challenge to many larger organizations. Their information comes from a variety of systems that each have their own characteristics and data structure. Getting to the point of collecting useful and integrated data requires significant investment, but will certainly help Security departments deliver on their remits.

Once the data is collected, being able to analyse it requires knowing what to look for. This involves identifying key performance indicators and pinpointing where the Security department can contribute and add value to the organization. The issue of changing perceptions of the Security department as just a cost driver has been discussed at length, and strategic data usage can definitely support this (see Kim Rahfaldt’s latest piece in Security Magazine). 

Ultimately, having useful data and the ability to analyze it quickly will likely be the game-changer that enables Security to come into its own as a value-adding department. In particular, I believe that the use of predictive analytics to spot trends in the risk landscape and suggest relevant measures will be a critical value driver that really shifts the perception of what Security departments can offer.

We are on this journey with our platform. Our initial analysis underlines that the data is out there, with basic statistical analysis providing a solid basis for identifying changes in risks and suggesting relevant ways to address them.

Data is a Security Game-Changer

Human Risks at the Danish Security Fair 2019

You can catch Human Risks at the Danish Security Fair, on 28-29 August in Fredericia.

Our CEO Mads Pærregaard will be delivering a joint presentation with Ole Madsen, Head of Global Security at Arla. They will be discussing how Arla is using advanced tools, including Human Risks, to perform risk analysis and adapt their global security efforts to protect the business and its employees.

We’ll see you in Fredericia!

You can get more detail on the fair here.

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How are you moving to a more holistic security risk management approach in your organization?

In increasingly complex operating environments security managers are recognizing the need to move beyond handling just “guns, guards and gates”, and start to work more holistically with their organizations.

This involves delivering security knowledge and expertise right from the outset of strategic decisions and projects, and working with teams to avoid risks that lower the chance of delivery.

It also means communicating in the language of business performance to ensure stakeholders are aligned on the value of security, not just the costs, and information sharing that helps the organization work more productively.

Holistic security risk management

How are you addressing human behavior as a security vulnerability?

We reached back through the archives this week to a piece from 2016 on the role of people in avoiding security risks. You can read the article here.

 

Security technology has improved significantly over the past few years, but most organizations have lagged when facing what is likely their biggest vulnerability - people. Regardless of the many policies and procedures we produce, it’s often an individual’s behavior that makes the difference between avoiding a security risk, such as a social engineering attack, and becoming the victim of one. 

 

And human behaviour is not something that can be changed easily. There are three crucial principles to keep in mind when designing behavioral interventions in your organization.

 

Get their Attention: First you need to make sure you’re actually getting people's attention, which is difficult in this era of overwhelming internal communications and demands on employees’ time.

 

Make it Relatable: Second, you have to give people a reason to listen to you by convincing them that whatever is on your agenda (such as avoiding a cyber-attack) is directly and immediately important to them.

 

Keep it Simple: Third, you need to introduce simple, easy-to-remember and easy-to-use tools that will help them avoid threats, and decrease the overall likelihood of threats occurring.

 

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Do Physical and Cyber Security Work Together in Your Organization?

Physical and cyber security concerns don’t exist in a vacuum - the digital and the physical are more connected than ever before. Physical security resources are often used to protect cyber assets, and there has been explosive growth of connected and automated devices and machinery.

This calls for a multifaceted approach that considers how physical and cyber security risks influence each other, and how they can be used in tandem in risk mitigation efforts.

How are you approaching the challenge of integrating your physical and cyber security efforts in your organization?

Physical and Cyber Security