Define the Information Security Risk Tolerance Level

Your best guess at what’s needed doesn’t cut it anymore.

Onsite Workshop

Making risk decisions without a clearly defined risk tolerance can result in:

  • Inadvertent acceptance of dangerous risks
  • Spending security funds on ineffective controls
  • Ambiguous security risk responsibilities

Clear understanding of risk tolerance leads to:

  • Informed risk decisions
  • Efficient and effective rationale for security spend
  • Clearly assigned risk functions

Module 1: Assess the Risk Culture and Responsibilities

The Purpose

  • Discuss the general business requirements and obligations towards risk.
  • Understand and agree on risk responsibilities and duties.
  • Define and discuss security assumptions for frequency/impact.

Key Benefits Achieved

  • Clear understanding of risk language and responsibilities across the organization
  • Defined risk statement and IT mandate

Activities: Outputs:
1.1 Define the security executive function RACI chart.
  • Defined IT mandate
1.2 Assess employee and management risk culture.
  • IT and Business Leadership Alignment Report
1.3 Standardize impact and risk assumption terminology.
  • Information Security Risk Statement
1.4 Define risk requirements and risk frequency/impact thresholds.
  • Business Leadership Communication and Reporting Plan

Module 2: Define Risk Tolerance

The Purpose

  • Use risk definitions and understanding to define micro risk tolerance.
  • Define and discuss organizational risk tolerance for collective macro risk, and high-level strategy for macro risk management.

Key Benefits Achieved

  • Quantified definition for micro risk tolerance
  • Quantified methodology for risk impact analysis
  • Understanding and management method for macro risk

Activities: Outputs:
2.1 Perform risk scenario assessment.
  • Risk Tolerance Determination Tool
2.2 Define and discuss organizational micro risk tolerance.
2.3 Define and discuss macro risk tolerance and macro risk management methodology.

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