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?

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.

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.

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.

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.

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

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 programmes.

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.

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What is next for CISOs?

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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.

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Cyber Risk Quantification