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 programs 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 Program Build Build cyber risk quantification capabilities and integrate them into your existing risk management framework. This provides an ongoing, sustainable program 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. Featured insights INSIGHTS PAPER Best Practices for Building a Sustainable PCI DSS Compliance Program Creating and maintaining a sustainable PCI DSS compliance program is a crucial and complex task for organisations to protect payment card transactions and uphold consumer trust. However, despite the PCI DSS standard being around for almost 20 years,... BLOG The Strategic Imperative of Enterprise Resilience In a volatile business environment, the concept of resilience has emerged as a cornerstone of strategic management. More than just a trendy concept, resilience should be ingrained as a key organizational goal, fostered through a comprehensive and... BLOG Using Cyber Risk Quantification to Manage Chaos The most important use of any risk assessment tool is that it must contribute to better decision making on how to manage individual risks. Whether that is treating and reducing risk, or accepting that risk exists, risk management activities must... WHITEPAPER SIFMA’s Quantum Dawn VII After-Action Report The latest iteration of SIFMA’s biannual cybersecurity exercise focused on the outage of a critical third-party service provider. The simulation and concluding survey found many financial institutions are already experienced with the loss of a... Button Button 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 program. Read more How we leverage Cyber Risk Quantification Protiviti empowers our clients to make data-driven decisions. Cyber risk quantification allows you to:Make effective risk management and budget investment decisions.Cyber risk quantification helps you understand risks in terms of impact on overall business value while significantly reducing uncertainty and narrowing the range of potential loss outcomes. This helps manage and mitigate risks by allocating appropriate budget, time, and resources to risk management programs.Prioritise risks, assets, and threats to identify and protect what matters most.Cyber risk quantification identifies critical risks that are the most likely to occur. Using the data from these analyses, effective comparisons can help decide which risks should be prioritised and which risks can be revisited later. This can save time and money while mitigating impactful risks.Communicate and express risk to executive leadership in a commonly understood, repeatable way.Through probabilistic analysis and the use of financial models, quantifiable data can be turned into valuable information. Communicating the range of potential loss in a commonly understood way – i.e., financial terms – allows management to clearly understand and make more informed investments. 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. 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 professional organisation supporting the use of CRQ. 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 Sameer Ansari Sameer Ansari is a Managing Director and leader of Protiviti’s Security and Privacy Practice. Sameer brings more than 20 years of experience developing and delivering complex privacy solutions to the Financial Industry, and privacy consulting and implementation ... Learn More Michael Pang Michael Pang is a Managing Director based in Protiviti's Hong Kong office and is the IT Consulting practice leader for Protiviti Greater China. He possess 20 years of experience in advising top management on various strategic topics including cybersecurity, data ... Learn More Roland Carandang Roland Carandang is a Managing Director in our London office and Global Leader for Protiviti’s Digital Identity practice. This practice helps organisations ensure the right people (and things) have the right access at the right time. Its major domains are Identity ... 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
