A cybersecurity risk assessment is a systematic process to identify, evaluate, and prioritize potential threats and vulnerabilities to an organization’s IT systems and data.
Cyber risk assessments look at all of the risks the company is likely to face and how well it addresses these. With this information, the organization identifies potential deficiencies and takes action to reduce the threat to the organization.
By using risk assessments an organization can identify potential security gaps and other cybersecurity threats to an organization, some assessments cover people, process and technology, some are aimed at uncovering vulnerability in specific systems, however when combined risk assessments should aim to help organizations understanding potential deficiencies in its security program so that they can better prioritize security spending and effort to maximize return on investment.
Without it, the organization is just guessing whether security spending actually benefits the business.
Let’s look a bit deeper at the various approaches to cyber risk. Cyber risk management is a very broad subject, it is a boardroom topic and an engineering discussion and in order for this paper to be useful we should first establish the contexts in which a cyber risk assessment is important.
Cyber risk assessment is a fundamental component of the Continuous Threat Exposure Management (CTEM) program, providing a systematic evaluation of potential threats and vulnerabilities. This assessment helps identify and prioritize risks, enabling organizations to implement targeted mitigation strategies within the CTEM framework.
By continuously monitoring and assessing cyber risks, CTEM ensures that an organization’s security posture remains dynamic and resilient against evolving threats.
A cybersecurity risk assessment can be broken up into four main steps, including:
When performing a security risk assessment, some of the most significant to consider include:
A cybersecurity risk assessment team requires various tools and technologies to assess an organization’s risk exposure.
Some of the most important ones include:
Check Point Infinity Global Services (IGS) offers a wide variety of security services, including managed risk assessments. These vendor-agnostic assessments are led by experienced subject matter experts and security architects.
Check Point’s advisory services are backed by a security-focused organization with full access to Check Point’s technology and expertise in threat hunting and risk mitigation. This combination enables a comprehensive hybrid between risk assessment and security consulting.
To learn more about how your organization can benefit from an IGS risk assessment, contact a Check Point security expert today.