Free Cyber Risk Analysis: Your Top Cyber Risks in 3 Clicks

Get Started
Request Demo

Integrated Risk Management, NIST Risk Management Framework

Critical Capabilities of Cyber Risk Assessment Software Tools


As Boards and CEOs begin to grow concerned about security threats affecting their enterprise, CISOs, and information security teams are faced with translating their cyber risks into business terms. Using cyber risk assessment tools is useful but only half the battle - to effectively communicate the cyber risks of the organization, technical leaders need to employ cyber security risk assessment tools that help automate the menial workflows of assessments for web vulnerabilities. Here we’ll examine the critical capabilities that these risk dashboards must have to support organizations at varying maturity levels. 

Foundations of Cybersecurity Risk Assessment Tools

As we’ve explored before, this new role that cybersecurity leaders find themselves in - reporting to board members and the CEO and serving as a business function - has triggered the need for a more integrated approach, as these leaders must be able to report up consistently. Whether integrated GRC or a pure integrated risk management approach, enterprises are prioritizing risk-based security solutions over simple checkbox compliance. The result is an organization driven by consistent security audits and the use of security risk assessment (SRA) tools, with compliance being a facet of the overall strategy. 

cyber security risk assessment

The critical capability that an effective cybersecurity reporting tool will have is easy access to standard risk management frameworks. For an integrated approach, the more closely aligned that compliance and risk can be, the better - for example, the CyberStrong platform uses both NIST SP 800-30 risk scoring methodology as well as elements of the FAIR model for risk analysis. 

Cyber Risk Assessment Dashboards 

The next layer above the control assessment level is the aggregate within a given assessment - in this case, the critical capability for any cyber risk dashboard is the real-time delivery of network security information. Using real-time data can help illuminate identified security risks and lead to faster remediation. 



While the representation reflected in these dashboards can vary based on the risk assessment framework that an organization decides to employ, the core capability is relaying information from throughout the organization up to leaders. At a baseline, regardless of the framework used, these dashboards must deliver an inherent risk profile for the context of those controls. With automation being a high-level priority to save time for security teams, real-time dashboards empower fast decision-making for leaders as well as reduce the effort necessary to report to technical leaders. 



Automated Risk Reports 


Finally, for top-level reporting, automation becomes the most crucial aspect of a cyber risk management and assessment tool. Cybersecurity teams can waste countless hours generating reports to show progress to remediation and relay existing risks to business-side leaders. Where speed was the vital aspect at the dashboard level, the automatic creation of security assessments can reduce unnecessary team hours and redirect those efforts to remediation. 

The value of this cybersecurity tool is that platforms can create reports that never existed before in an organization - in the case of CyberStrong, the Executive Risk report is something new to most organizations but saves cybersecurity teams massive volumes of time. Business-orientated reports help bridge the gap that many organizations face today between technical and business leaders. With a more integrated approach, organizations must find a way to bridge that gap. 

Integration, Real-time, and Automation

With data breaches capturing headlines seemingly weekly, the need for a high-level defensible view of cyber posture is more important than ever. The critical capabilities of a cyber risk management tool: integration of compliance and vulnerability assessments, real-time display of high-risk data, and automated reporting of risk trends and cybersecurity maturity are the capabilities that CISOs must look for in a cybersecurity risk assessment tool. 

You may also like

April Product Update
on April 18, 2024

The CyberSaint team is dedicated to providing new features to CyberStrong and advancing the CyberStrong cyber risk management platform to address all your cybersecurity needs. ...

Bridging the Gap: Mastering ...
on April 22, 2024

In today's digital landscape, cybersecurity has become essential to corporate governance. With the increasing frequency and sophistication of cyber threats, the SEC has set forth ...

March Product Update
on March 21, 2024

The CyberSaint team is dedicated to advancing the CyberStrong platform to meet your cyber risk management needs. These latest updates will empower you to benchmark your ...

Empowering Cyber Risk Modeling ...
on March 20, 2024

The practice of cyber risk management is cyclical. You start by assessing your cyber risk environment. That step includes identifying risks and classifying them in buckets. Then, ...

Leveraging the Executive Dashboard ...
on March 27, 2024

In the fast-paced business world, CISOs and C-suite executives constantly juggle multiple responsibilities, from budgeting to strategic planning. However, in today's digital ...

NIST CSF 2.0 Updates in CyberStrong
on April 4, 2024

The National Institute of Standards and Technology’s Cybersecurity Framework (CSF) is known in cybersecurity as the gold standard framework for cybersecurity and risk guidance; it ...