What is a mature risk management program?

Risk management programs require a specific approach to be truly effective. As threats increase, it becomes increasingly important to accelerate the development of these programs to keep organizations as secure and resilient as possible. The difference between a mature program and one not developed or in development may seem obvious, but let’s look at some of the best practices and principles for ensuring a mature and effective risk management program for your organization.

Risk management and incident response

A solid handle on incident response is crucial for the resilience of an organization. Security teams with a mature SecOps program will be able to take a proactive stance towards protecting their organization. If the security team is able to detect incidents before or when they occur, teams can act quickly and effectively to detect, mitigate, and minimize threats and their impact with optimal efficiency.

At Iceberg, we believe that taking a Risk-based approach to cyber incidents is one of the most important and effective things you can do to mitigate and remediate risk within an organization. To be proactive, a mature program will have all the necessary tools and resources to ensure rapid and effective detection of threats, so that incident response teams can act as quickly as possible.

Due to the greatly increased likelihood of cyberattacks today, automation tools and programs have become our best bet to quickly detect and remediate these risks. Thus, a mature and effective Security Incident Response (SIR) will have these tools.

Manual processes for incident response eat up a lot of your time, are tedious and frankly unnecessary with today’s available technology. The process of identifying problems, isolating infected systems, researching a threat, etcetera all cause a headache that is largely avoidable. No more weekend worries, rushing to the office or wire-ripping is necessary with ServiceNow Security Operations.

Supplier risk management

As organizations improve their operational efficiency, they often outsource many of their services. Each vendor and third party an organization associated with introduces a level of risk to the business. If any of these third parties suffers a disruption in service or cannot deliver their products or services to your organization, your organization will also suffer disruption or damage (financial, reputational, etc.). A maturity supplier risk management program helps organizations anticipate and mitigate supplier disruptions and identify potential risks before they impact the business.

Business Continuity

The objective behind an organization’s risk management program should be to continue operations as usual with little or no damaging impact to the business. If an organization’s risk management and security operations programs are mature, the organization will be resilient in the face of continuing and growing threats.

Iceberg recently partnered with high metric, Fishbone analysis and NewRocket— as part of a recent acquisition—to become the #1 ServiceNow service provider in North America. Our combined team of experts can help your organization establish and maintain strong and effective risk management and security operations programs that enable business continuity in the event of disruptions.

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*** This is a syndicated blog from the Security Bloggers Network of Risk Intelligence Academy – Iceberg Networks written by Meaghan O’Brien. Read the original post at: https://icebergnetworks.com/what-constitutes-a-mature-risk-management-program/?utm_source=rss&utm_medium=rss&utm_campaign=what-constitutes-a-mature-risk-management-program

Ryan H. Bowman