Managing Risk in the Cyber World

Organisations are constantly taking risks: it’s challenging for a company to maximise profit, or to deliver products or services, without them. But how is it possible to determine when it is a sound business decision to accept risk? Or better, determine which are the right risks to take to achieve the desired return? Risk appetite is fundamental to good risk management. The ISF defines risk appetite as “the nature and amount of risk an organisation is willing to accept to achieve its objectives”. Understanding this concept and how it can be applied can contribute to the quality of risk acceptance decisions. For example, knowing what risk the organisation has already accepted provides important context when deciding whether or not to accept additional risk. But how do you apply these principles to cybersecurity and most importantly how do you ensure consistent alignment between security, IT and the business around risk management? This webcast will suggest how to adopt a risk-based security model and highlight some of the ways to gain acceptance of this approach across the business.