Cyber risk management is the process of preventing, identifying, assessing, and managing the risks associated with cyber threats and vulnerabilities. An effective cyber risk management solution encompasses four integrated components: Risk Assessment, Governance, Security and Fraud. In addition, it needs to account for the impact of operational changes at your institution.
Getting there begins with an understanding that cyber risk is uniquely dynamic, a result of two factors:
Threat actors are always on. Cybercriminals are always on the watch, seeking out weaknesses that enable them to penetrate your defenses.
Your institution is in a state of constant operational change. Expanded digital offerings, upgrading technology, or opening new branches are all reasons to celebrate change, but can open the door to additional risk.
DefenseStorm surveyed hundreds of financial institutions to give financial institutions visibility as to how they compare to others on the core elements of cyber risk. Protecting your institution requires both a defensive and offensive approach to cyber risk management and must be specifically designed to address your institution’s unique requirements.
Take this quick self-evaluation to understand your cyber risk readiness and how you stack up against your financial industry peers.
The outcome will help you identify areas where you are strong or where you have vulnerabilities or gaps and provide tangible recommendations for improving your cyber risk maturity.
Protecting your institution requires both a defensive and offensive approach to cyber risk management. An approach that is specifically designed to address your institution’s unique requirements, including complex technology systems and extensive regulations. Read how financial institutions play both offense and defense.
eBooks & Reports
DefenseStorm experts share key insights about what makes your financial institutions vulnerable in the new year. Read more in the DefenseStorm 2023 Annual Threat report.
Protecting your institution requires a defensive and offensive approach to cyber risk management. Read how to do both.