Request Demo

As Boards and CEOs start taking a greater concern with the security posture of their enterprise, CISOs and information security teams are being 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 risk assessment tools that help automate the menial workflows of reporting. 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 the Board and 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 thinking over simple checkbox compliance. The result is an organization driven by consistent security risk assessments with compliance being a facet of the overall strategy.

The critical capability that an effecting cyber risk management 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 real-time delivery of information. Using real-time data can help illuminate cybersecurity 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 faster decision making for leaders as well as reduce the effort necessary to report up to technical leaders.

Automated Risk Reports

Finally, for top-level reporting, automation becomes the most crucial aspect of a cyber risk 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 for the dashboard level, the automatic creation of these reports can reduce unnecessary team hours and redirect those efforts to remediation.

The value of automated reporting 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-side 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 risk management tool: integration of compliance and risk assessments, real-time display of 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

Why GRC Needs IRM
on August 7, 2019

Today, every organization strives to optimize the speed with which they access information. Data is being stored, processed, transmitted and utilized in almost every day-to-day ...

Alison Furneaux
SSP and POAM Guidance for DFARS ...
on July 24, 2019

Defense federal acquisition regulation supplement (DFARS) Compliance has been top of mind for Prime contractors as well as Department of Defense (DoD) suppliers since before the ...

Alison Furneaux
Integrated Risk Management Magic ...
on July 17, 2019

It has been roughly one year since Gartner released the 2018 Magic Quadrant for Integrated Risk Management, the first of its kind, and as of this week the second Integrated Risk ...

Alison Furneaux
"Glass-box" Solutions Are Critical ...
on July 11, 2019

With the likes of Equifax and Marriott, it is no secret that cybersecurity has made its way into the Boardroom. While many executives are experienced in managing myriad business ...

Reading Between the Lines of NIST ...
on July 9, 2019

On June 19th, the National Institute of Standards and Technology (NIST) released the much anticipated Rev 2 of SP 800-171 and the working draft of supplement SP 800-171B. As the ...

How We're Making DFARS Compliance ...
on July 2, 2019

With the Department of Defense (DoD) making DFARS compliance a requirement for all contractors doing business with the DoD, a great amount of stress has been put on DoD ...