Cyber Risk Quantification Understand your Cyber Risk to protect what matters most With increased spending to defend against cyber threats, effective financial measurements are needed to support decision-making and answer questions like: “what are the potential financial losses from each cyber risk?” “how much cyber insurance does my organisation need?” “which risks should be prioritised?” and “how can we calculate ROI on cybersecurity investments?”We help organisations understand cybersecurity risks for budgetary justification, investment re-prioritisation and implement programmes to manage risk. How can we calculate ROI on risk investments? Our Cyber Risk Quantification services Pro Briefcase Risk Landscape Quantification Understand your risk appetite and determine risk and asset priorities. Use quantitative analysis to evaluate top cybersecurity risks, which can help executives make dollars-and-cents decisions. Pro Building office Cyber Risk Quantification Programme Build Build cyber risk quantification capabilities and integrate them into your existing risk management framework. This provides an ongoing, sustainable programme for executive leadership to support meaningful decision-making. Pro Document Consent Targeted Quantitative Risk Analysis Leverage targeted-scope risk assessments based on industry frameworks or compliance standards (e.g., NIST, PCI, NYDFS, HIPAA, etc.), enabling you to select and prioritise risk treatment options. Pro Document Files Organisational Decision Support Model loss exposure from individual scenarios and demonstrate return on investment and risk reduction by building specific business cases and supporting sound risk treatment decisions tailored to an individual project, initiative, or investment. Pro Document Stack Third-Party Risk Quantification Develop, prioritise, and integrate quantification methods with your existing third-party management capabilities. Protiviti’s approach to cyber risk quantification includes input from business users, asset owners, and key technical experts How we leverage Cyber Risk Quantification Cyber risk quantification builds upon the qualitative nature of cyber risk assessments and models risk in business terms, which ultimately leads to more informed decision making. Cyber risk quantification can empower you to:Make better decisionsCRQ enables security leaders and executives to “speak the same language” in financial terms. With financial measurements in hand, you can effectively mitigate risks by making the right investments and increased ROI. Ultimately, a repeatable and scalable process is developed.Identify top risksCyber risk quantification begins with assessing an organisation’s current risk landscape. By considering the elements of threat and analysing the threat in financial terms, Protiviti can target and build a portfolio of top vulnerabilities or critical assets to be prioritised.Understand risk’s true impactProtiviti leverages and blends your data, industry data, threat intelligence, and subject matter expertise to get the true picture of risk. Cyber risk quantification translates each potential risk to dollars and cents to forecast an estimate of your organisation’s potential future loss exposure and allocate resources to the most effective risk treatments.Establish a clear, repeatable risk analysis methodCyber risk quantification improves on historical risk assessments and analysis processes by requiring clear assumptions and defined estimates. The process is transparent and allows for continuous improvement that cannot be achieved through qualitative methods. Client Story September 24, 2024 Enhancing Cyber Resilience Strategies in Global Manufacturing with the FAIR Methodology Protiviti helps a global manufacturer enhance cyber resilience strategies with a Factor Analysis of Information Risk (FAIR) quantification programme. Read more Leading the way on Cyber Risk Quantification Protiviti’s cyber risk quantification (CRQ) solution delivers a continual, data-driven assessment of a company’s current state of cyber risk. Protiviti is a Founding Advisory Partner of the FAIR Institute, the leading software as a service based on the FAIR model. This puts Protiviti at the forefront of innovative CRQ approaches and thought leadership. The Protiviti team includes members from varying backgrounds, all specialising in quantifying risk. Leadership Andrew Retrum Andrew Retrum is a Managing Director and business-oriented leader within Protiviti’s Technology Consulting Practice. He currently has dual leadership roles, for both the Global Financial Services Security Practice and the US Security Programme & Strategy Practice. ... Learn More What is next for CISOs? The CISO Next initiative produces content and events crafted exclusively for CISOs, with CISOs. The resources focus on what CISOs need to succeed. The first step is finding out “What CISO type are you?” Get Involved Case Studies Protiviti helps consumer products company achieve cyber risk landscape clarity Situation: A consumer products and services company lacked enterprise-level risk landscape clarity and did not have the resources to maintain a cyber risk quantification program. Value: Protiviti helped increase the risk landscape clarity of application and infrastructure environments and developed cyber risk quantification policies. More than 80 triage risk assessments were conducted, and training and workshops were completed for members of the security engineering team. FFIEC maturity assessment and proposed next steps Situation: An international bank group needed support to structure its cybersecurity program. A study of the bank’s business risks was conducted to address the business needs of the cybersecurity program. Value: The bank received new insight into their IT controls and cybersecurity infrastructure and gained access to a preferred supplier that immediately supported their cybersecurity infrastructure needs. Supporting and documenting security strategies for an international bank Situation: An international bank wanted to define and document its three-year cyber security strategy. Value: Protiviti provided the bank with a digital visualisation of the control blueprint, a threat analysis approach, and models of two example threats. Financial services organisation upgrades data privacy and security vulnerabilities Situation: A large insurance and financial services organisation had issues with its data privacy and security policies and procedures, which were not evolved to address emerging data privacy and security regulations. Value: Protiviti provided improvements to security risk management practices and strengthened the privacy compliance posture of the organisation. Best Practices for Building a Sustainable PCI DSS Compliance Programme In April 2016, the PCI Security Standards Council (SSC) introduced the Designated Entities Supplemental Validation (DESV) framework, which provides guidance for maintaining consistent PCI compliance, particularly for higher-risk entities. In our work with clients, we have utilised this framework and expanded on it based on our own experiences and lessons learned over the years. Read more
