Your Cyber Risk Readiness IQ
Assessing Risk
Continuous assessment of risks is essential to the success of a cyber program
Monitor risk to measure and control it
Continuous assessment of risks is essential to the success of a cyber program. You can't manage the risks you don't know about. You cannot apply the proper system of controls if you haven't properly assessed identified risks. And you can't ensure the risks are being properly managed if you aren't monitoring the level of risk and the effectiveness of controls on an ongoing basis.
You need a continuous approach to assessing risk for a real-time understanding of your cyber risk profile.
Key Takeaways
What the survey shows and what you can do with it.
57% of survey respondents are unable to get the full benefit from adopting SIEM, IDS/IPS, EDR and other such solutions.
Managing the information, data and alerts from cyber security solutions is not an easy task and continues to be a challenge for institutions of all sizes and risk maturity levels. Consider a co-managed solution, pairing human expertise with the right technology solutions for your business.
21% of respondents said they’ve identified potential risks within their strategic objectives but are focused on better managing or reducing risk.
Industry leaders have learned to address all sources of risk across the business, not just those that are easier to tackle.
68% OF RESPONDENTS SAID AT LEAST ONE OF THEIR INSTITUTION’S STRATEGIC OBJECTIVES WILL INCREASE CYBER RISK.
Recognition may be half the battle, but institutions need to change their planning and implementation processes to address cyber risk in parallel with new initiatives. Not after the work’s been done, when it can be too late to prevent a cyberattack.
How does your FI measure up?
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.
About the Cybersecurity Benchmarking Report
In late 2022, DefenseStorm surveyed information security and IT professionals across the US. The goal was to benchmark the progress that companies are making against five components of effective cyber risk management. Based on their survey responses, respondents were grouped into four maturity levels:
Further Resources for You
Data Sheets
DefenseStorm Risk Assessment
DefenseStorm offers the only built for banking cyber risk management solution with integrated custom risk assessments.
Case Studies
With lackluster service from its former cybersecurity provider, Red Rocks Credit Union scanned the market for a new partner to offer agility, continual improvement and a readiness to help – DefenseStorm was the obvious choice.
Webinars & Videos
Live Oak Bank Switches to a Cloud-based Cybersecurity Solution
Thomas Hill from Live Oak Bank describes the benefits DefenseStorm offers as a cloud-based, FI-focused provider.