How should you prepare for the inevitable breach or incident?
Plato said “in a time of peace, prepare for war”
We tend to agree…
Of course, the best risk management program or solution will never make you completely impenetrable. We all know it is a matter of when not if. Consequently, the immediate and lasting impact of an incident on your business will depend on your resilience. Are you prepared?
The Value of Proactive Risk Management
At CyberOne, we believe risk is a shared responsibility. The greatest value risk management brings to your company is enabling proactive strategic positioning. Applied effectively, risk should create a position of strength and agility rather than stifle a company’s progress. Companies thrive when they are prepared for and ahead of change. These are the agile companies.
Two absolutes for proactive risk and incident management are a GRC Tool and its effective implementation across the enterprise. Let’s explore the latter of those two first.
Risk Culture for Agile Companies
Investing in building an effective risk culture is at the foundation of evolving the company from organizational to strategic agility (1). Companies thrive when they are prepared for and ahead of change. These are the agile companies.
A Model for Applied Risk for Strategic Agility:
Agile Teams > Agile Departments > Agile Leadership
Continuous Risk Evaluation > Risk-Aware Decisions > Risk-based Strategy
Agile Business > Market Leader
Incident Response for the Agile Company
Applying this methodology to incident management, the agile business is best positioned from both a resiliency and incident recovery standpoint. When the business has a deep understanding of key areas of risk, it can identify scenarios and prepare for likely incidents. When it invests in continuous monitoring and (re) evaluation of inherent and residual risk impact, it becomes agile – no longer reliant on (out of date) point in time data. This is where our first absolute becomes… absolute. This can only be done with a Risk Management Solution. There is one in particular we recommend!
The Value of a Risk Management Solution
From an enterprise risk standpoint, the risk register is your guide. You want strong risk analytics connected to KRI’s or KPI’s , strategic plans and priority assets. From an incident response standpoint, most companies create a crisis response plan. The question is: Is your crisis response plan relevant and comprehensive? If your company is strategically agile, your chances are high!
Risk management solutions enable leaders to prevent or manage critical risks that a business may face. Using a GRC tool, leaders can envision a crisis from multiple perspectives, such as finance, legal, or operations and devise a recovery plan, as well as manage that plan during an incident. CyberOne enables communication of vital information to teams, ensures process is correctly implemented and all company assets with the speed and efficiency.
(1) Forbes, Steve Denning: How to Make the Whole Organization Agile