Importance of risk management in cyber security
The startling thing about many cyber-attacks is that with the right measures/training in place, they could have been prevented. This is the main reason why it’s so vitally important to focus on risk management when it comes to cyber security. A risk assessment will help you mitigate risks in your organisation and therefore prevent successful attacks. This will, in turn, reduce costs for your organisation (via the prevention of potential attackers’ financial gain, any fines you may incur as a result of an attack or by loss of income via reputational damage).
Cyber risk management will also protect your charity’s reputation. A cyber-attack doesn’t look good for any organisation, and despite it not directly being your charity’s fault, in retrospect, there may have been measures you could have taken to prevent it.
How to conduct a cyber risk assessment
A good first step in conducting a cyber risk assessment for your charity is to find a template you can use. This should outline all the areas you may need to consider, plus you could adapt it to include additional areas unique to your organisation.
If your charity doesn’t have someone dedicated to looking after your cyber security, you can find free templates and resources online to work with.
Once you have your template, as a general overview, you’ll need to:
- Consider the scope of the risk assessment
- Identify the key areas that are a cause for concern
- Analyse the risks and potential impact
- Prioritise those risks and document them
- Identify measures to mitigate the risks highlighted and document those too
Go to Section 3.
1. What is cyber security and what are cyber attacks?
2. Importance of risk management and assessments
3. How to reduce cyber risk
4. Cyber security guidelines