• IT (Cyber) Risk Assessment

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Information Technology (Cyber) Risk Assessment

Boards and Senior Executives are responsible for managing business risk, but when it comes to IT risk, there can be a knowledge gap in understanding the IT function and the business risks associated with IT failures, threats and vulnerabilities.

Organisations that engage in IT risk assessments are better able to identify, assess, mitigate and manage IT risk and reduce both the likelihood and impact of IT risk incidents. Applying solid IT risk management practices delivers tangible benefits – fewer incidents, increased stakeholder confidence, reduced regulatory concern and improved information quality to make better decisions.

What is the Information Technology (Cyber) Risk Assessment Platform?

The Information Technology Risk Assessment platform is the world’s first software-as-a-service (SaaS) cloud-based information technology risk assessment tool that helps organisations to identify, assess, mitigate and manage information technology risks across the following dimensions and over 800 different risk factors.

The Information Technology Risk Assessment platform provides a standardised process for performing risk assessments on the core requirements of an IT risk management framework to assist organisations in designing, implementing and maintaining robust policies, procedures, systems and controls to reduce risk.

Solution Overview

The IT/Cyber Risk Assessment contains over 800 different risk factors tailored to over 40 industry sectors, organised across different risk groups:

Enterprise Framework Risk

  • Organisational context, IT Risk Assessment Framework, IT Risk Management Program, IT Policies and Procedures, Employee Due Diligence, Training and Awareness and Independent Review.

Internal Risk

  • Operational Risks related to Technology, Technical Risks, Physical Risks, Environmental Threats and Support Infrastructure Threats.

External Risk

  • Operational Risks related to Technology, Technical Risks, Physical Risks, Environmental Threats and Support Infrastructure Threats.

Project Delivery Risk

  • Program and Project Management, Project Initiation and Scoping, Proof of Concept, Analysis, Design, Development, Testing and Integration, Implementation and Deployment, Post Implementation Reviews, Operations and Maintenance.

Third Party Risk

  • Organisational context, IT Risk Assessment Framework, IT Risk Management Program, IT Policies and Procedures, Employee Due Diligence, Training and Awareness and Independent Review.
  • Country Risk – 250+ countries and territories assessed against restricted, high, medium and low risk.

Click here to enlarge diagram.

800

Risk Factors

6

Risk Groups

35

Categories

100

Sub-Categories

40

Industry Sectors

How it works – Get started in 4 easy steps

Configure Model

Use out-of-the-box or tailor to suit – adding risk factors, changing scores or weightings between categories is easy!

Create Assessment

Assess the inherent risk (likelihood x impact) and assess effectiveness of any mitigating controls across 800+ risk factors.

Generate Reports

Generate drillable reports providing actionable business intelligence delivering strategic risk management insights.

Deployment Options

On-Premise

Our solutions can be installed and run on your organisation’s hardware, behind your own firewall and fully supported by your own organisation’s IT support staff which provides control over how the software is used and maintained and provides peace of mind to organisation’s who may not entrust compliance data hosted outside their premises.

Our IT team can provide support to your organisation’s own IT staff to help get you up and running.

Private Cloud

Our solutions are also available to be deployed off-premise as a ‘software-as-a-service’ (SaaS) offering which can be deployed to any private cloud hosting provider of your choice, for example, Amazon Web Services, IBM Softlayer

Private cloud hosting could provide peace-of-mind that trusted cloud-providers that your organisation may already be using to host other software applications, can be extended to new software applications.

Shared Cloud

Our solutions can also be deployed in the cloud using our preferred cloud-solution provider, Microsoft Azure, which is trusted by 57% of Fortune 500 companies.

Microsoft has the highest standards of security, privacy, transparency and compliance to ensure your data is securely hosted in an in-country data centre, which can dramatically reduce your ongoing support costs in terms of staffing, hardware and software acquisition, ongoing maintenance and power consumption.

In the media

Our subject matter experts are recognised as thought leaders in financial crime prevention and are regularly featured in leading GRC publications showcasing our knowledge and experience. We often present at conferences and have done our share of webinars too!

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