The Four Stages of Cyber Risk Management

Although eliminating cyber-risks completely may be impossible, a comprehensive cyber risk management strategy can help address your organization’s critical security gaps, threats and vulnerabilities, reducing overall risk.

Risk Identification
  • Recognize vulnerabilities susceptible to cyberthreats
  • Conduct a thorough risk assessment
  • Consider internal and external factors
  • Classify assets based on importance and sensitivity
Risk Assessment and Analysis
  • Evaluate identified risks for potential impact and likelihood
  • Analyze consequences and assess the probability of occurrence
  • Estimate financial, operational and reputational impact
  • Prioritize risks based on significance to the organization
Risk Mitigation and Control
  • Develop strategies to mitigate identified risks
  • Implement controls to reduce likelihood and impact
  • Enforce cybersecurity policies and procedures
  • Conduct regular assessments and address gaps
Monitoring and Review
  • Continuously monitor risk mitigation measures
  • Adapt the plan to evolving threats
  • Keep an eye on any deviations from the normal
  • Regularly review and update the plan
Need help implementing a cyber risk management program?

Contact us today! | 402-963-4340

About Frankel

Our mission is to offer forward-thinking and innovative accounting, tax, and advisory solutions to our clients. We strive to help them overcome their obstacles and leverage opportunities for their financial prosperity and growth. Our clients’ objectives are our objectives, and we measure our success by their achievements.

Contact us today to learn more about how we can support your business.