Like a hurricane, a cyber event has an estimated magnitude of loss and an event frequency. While cyber-attacks are inevitable, proper preparation (starting with those cyber events that post a high value at risk to your organization) is the essential element that sets resilient organizations apart from the rest in managing risk, minimizing damage, and recovering quickly from any incidents, as well as mitigating business and technology risks as opposed to allowing those risks to damage the business.
Incidents can range from identity theft, fraud, and stealing customer data to activities that could cause massive disruption to essential services. A narrow focus on sensitive data, rather than an outcome-driven approach to cyber risk management, could cause your organization to overlook real threats elsewhere – for example, those presented by ransomware. Computer security incident response is a reactive service that is activated only when cybersecurity incidents are detected, and it focuses on the technical aspects of cybersecurity incidents.
Cybersecurity refers to the preventative techniques used to protect the integrity of networks, programs, and data from attack, damage, or unauthorized access. In the absence of a clear solution to the cybersecurity problem, boards and senior managers are frequently reluctant to take any action lest it be inadequate. However, getting your organization to better manage risks through the use of technology and embrace new policies can be quite difficult.
If a successful cyber-attack happened to your organization without a cyber resilience program in place, damage and the delay to response times would be significantly increased. Human capital is the combination of ability, behavior, skills, and tenure that people bring to your organization.
Operational resilience is both a process and a characteristic of your organization to adapt rapidly to changing environments and needs. A vulnerability is a defect in your implementation that opens a pathway for an attacker with the right set of skills to exploit the defect and cause software to behave in ways that the developer may never have anticipated. In these cases, boards of directors and executives worldwide have started realizing that cybersecurity is actually a prominent risk issue with potentially devastating outcomes in most cases.
Your teams working on applications, system risks, and data loss prevention (DLP) must be proficient in preparing and presenting status reports to senior management on security matters and developing security risk analysis scenarios and response procedures. They must also be capable of identifying security risks to the business units and ensuring appropriate data security. With the dramatic increase in high-profile cybersecurity incidents reported in the media, the demand for highly skilled security professionals is growing significantly as businesses across the globe seek to protect their networks and data from significant exposure to risk. This is especially true in the wake of high numbers of lost or stolen digital devices lacking implemented device security programs to limit any losses.
System disruption, industrial espionage, and sabotage are increasingly trending as the motive and outcomes of major corporations. Any business is vulnerable to a data breach, although the readiness of response plans will greatly determine the potential outcome and risk of reputational damage while reducing the cost/impact to business operations and brand damage.
Want to check how your Cyber Security Resilience Processes are performing? You don’t know what you don’t know. Find out with our Cyber Security Resilience Self Assessment Toolkit: