The risk assessment process identifies, analyses and evaluates risk, and ensures that the cyber security controls you choose are appropriate to the risks your organisation faces.
Conducting a risk assessment can be a complicated undertaking, especially for organisations that don’t know what standard to measure their efforts against.
IT Governance cyber risk assessment service
Our team of qualified cyber security advisers will provide business-driven consultation on the overall process of assessing information risk. They will offer support, guidance and advice in the following areas:
- Identifying the assets that require protection.
- Identifying relevant threats and weaknesses.
- Identifying exploitable vulnerabilities.
- Assessing the level of threat posed by threat agents.
- Determining the business impacts of risks being realised.
- Producing a security risk assessment.
- Advising on a risk acceptance threshold or level of acceptance.
- Advising on suitable control implementation.
Cyber risk assessment should be a continual activity. A comprehensive enterprise security risk assessment should be conducted at least once a year or when significant changes occur to the business, the IT estate, or legal environment to explore the risks associated with the organisation’s information systems. An enterprise security risk assessment can only give a snapshot of the risks of the information systems at a particular point in time.
Who is the cyber risk assessment service for?
A risk assessment consultancy can be performed on organisations of any size – small, medium-sized and large enterprises – where the IT infrastructure includes a combination of complex legacy systems and newer operating systems whose interoperability is not always seamless.
It is particularly useful to public-sector organisations such as the NHS, HMRC, local councils and other government agencies that provide multiple services across different channels to diverse groups of users - the interchange of personal data across different platforms requires greater vigilance and methods of protection.
A requirement of good governance
A cyber risk assessment is an explicit requirement of the most important standards and regulations, and, at the very least, it is indirectly implied in others. Some of these standards and regulations include:
- ISO 27001 (ISMS)
- GDPR
- PCI DSS
- NIS Directive
- HMG Security Policy Framework (SPF)
- 10 Steps to Cyber Security
- 14 Steps to Cloud Security
- 20 Critical Controls for Cyber Defence
Risk assessment software
The risk assessment software tool vsRisk has been proven to save huge amounts of time, effort and expense when tackling complex risk assessments, Fully compliant with ISO 27001, vsRisk streamlines the risk assessment process to deliver consistent and repeatable cyber security risk assessments every time.
The latest version of vsRisk includes three new functionalities: custom acceptance criteria, a risk assessment wizard and control set synchronisation. You can also now export the asset database in order to populate an asset management system or register.
Find out more about vsRisk
Why choose IT Governance?
IT Governance specialises in providing best-practice action plans, consultancy services, risk assessment, risk management and compliance solutions with a special focus on cyber resilience, data protection, cyber security and business continuity.
In an increasingly punitive and privacy-focused business environment, we are committed to helping businesses protect themselves and their customers from the perpetually evolving range of cyber threats. Our deep industry expertise and pragmatic approach help our clients improve their defences and make key strategic decisions that benefit the entire business.
Additionally, IT Governance is duly recognised under the following frameworks:
- UK government CCS-approved supplier of G-Cloud services.
- CREST certified as ethical security testers.
- Cyber Essentials Plus certified, the UK government-backed cyber security certification scheme.
- ISO 27001 certified, the world’s most recognised cyber security standard.