Description

The Risk Assessment activity involves three main phases:

• Impact Analysis
  In this phase, the consequences of potential attacks or malfunctions on the company are evaluated, considering not only recovery times but also financial, operational, and reputational impacts. The time required and associated costs to restore full service functionality are estimated.

• Policy Analysis
  During this phase, the existing company policies and procedures for managing security and data privacy are evaluated. Compliance with relevant regulations such as GDPR, ISO 27001, and other industry-specific laws is examined, as well as the effectiveness of the policies currently in use.

• Risk Analysis
  Based on the evaluation of existing policies and infrastructure, this phase allows for the identification and classification of risks to which the company is exposed. Recommendations are made to improve security measures and reduce risk exposure.

These processes will lead to greater risk awareness by the company, allowing for the identification of critical areas and the implementation of measures to improve data and infrastructure security.

Specifications

The ISGroup cybersecurity expert team will focus on all relevant technologies for the company's infrastructure, including emerging or proprietary ones, to ensure a complete and accurate risk assessment.

Through an information exchange process and the support of the company's IT team, it will be possible to assess the security of a wide range of applications and technologies. Additionally, the service meets specific Governance, Risk, and Compliance (GRC) requirements, such as those required by ISO 27001, as well as regulations like GDPR and other relevant laws.

Output

The output provided to the client will be a detailed report documenting the results of the Risk Assessment, with particular attention to the identification and evaluation of risks associated with IT infrastructure and corporate data management. The report is divided into three main areas, each intended for a specific audience within the organization:

Executive Summary
This non-technical document is intended for Management and provides a high-level overview of the main threats and vulnerabilities identified, as well as the potential consequences for the company. The areas of greatest risk and strategic recommendations for improving the organization's overall security posture will be illustrated.

Risk Assessment Details
This section delves into the details of the risks identified during the assessment, analyzing the specific threats to which the company is exposed. Risk factors, vulnerabilities of current security measures, and potential business impacts are described. The document is aimed at IT security managers and compliance officers, providing them with the necessary information to understand the severity of the risks and to adequately plan corrective measures.

Risk Mitigation Plan
This technical document is intended for system administrators and the IT team, and contains specific guidelines for mitigating identified risks. Practical measures will be suggested, such as updates to security policies, implementation of new technologies, or improvements to existing processes. Each proposed action will be prioritized based on urgency and potential impact, providing a clear and actionable intervention plan to reduce risk exposure.

Frequently Asked Questions

What are the 5 fundamental principles of risk assessment?

• Hazard Identification: Recognize potential risks or hazards that could threaten the security of IT infrastructure or data.
• Risk Evaluation: Analyze and evaluate the likelihood of identified risks occurring and the impact they would have on the company.
• Risk Control: Establish measures and strategies to mitigate, control, or eliminate identified risks.
• Monitoring and Review: Continuously monitor risks and adopted measures, regularly reviewing and updating the risk management plan.
• Communication and Consultation: Involve all stakeholders in the risk assessment process and ensure that results and actions are communicated effectively.

What are the 5 main steps involved in a risk assessment?

• Hazard Identification: Determine possible risks that could affect the organization.
• Risk Severity Evaluation: Estimate the likelihood and impact of each identified risk.
• Implementation of Control Measures: Decide on actions to reduce or manage identified risks.
• Documentation of the Process: Record all results and measures taken in a formal report.
• Monitoring and Review: Periodically verify the effectiveness of control measures and update the risk assessment as needed.

What is a risk assessment checklist?

A risk assessment checklist is an organized tool that lists a series of steps or items to check during a risk assessment process. It serves to ensure that all potential risk areas are identified and evaluated systematically, and that no element is overlooked during the assessment.

What is SRA (Security Risk Assessment)?

SRA, or Security Risk Assessment, is the process of identifying, evaluating, and managing risks related to information security and IT infrastructures. This process aims to protect the company from internal and external threats, ensuring the confidentiality, integrity, and availability of data and systems.

What is the ISO standard for security risk assessment?

The ISO standard most commonly associated with security risk assessment is ISO/IEC 27005, which provides detailed guidelines for the risk management process in the context of information security. This standard supports the implementation of an effective information security management system as required by ISO/IEC 27001.

Does ISO 27001 require a risk assessment?

Yes, ISO/IEC 27001 explicitly requires the conduct of a risk assessment as part of the process of implementing and maintaining an information security management system (ISMS). Risk assessment is essential to appropriately identify and address risks that could compromise the security of corporate information.