The importance of cyber risk management - RINA.org

The importance of cyber risk management

29 Nov 2022

The quantitative and comprehensive approach of RINA to address cyber risk

Cyber-attacks represent one of the most important threats affecting a company and it can result in extremely negative economic and reputational impacts for the organisation.

Therefore, adopting proper and effective risk management tools - not only IT - is of utmost importance, as it can affect the future course of the company itself.

By adopting appropriate cyber risk management processes, a company can protect both its business and all its stakeholders. A comprehensive approach to the problem requires the use of a suitable and advanced cyber risk quantification solution.

In this context, the RINA cybersecurity division supports companies in choosing the best solutions to become truly proactive in managing and mitigating cyber risk.

Our technological approach  makes it possible to analyse the current cyber posture of a company – i.e. its overall cybersecurity strength – and suggest controls to be prioritised in order to reduce potential financial loss in case of cyber-attacks.

This solution is based on an inside-out approach to identify and quantify the companies' cybersecurity risks by running targeted simulations, tailored on feasible and company-specific data and supporting top management in prioritising risk mitigation actions to maximise return on investment (ROI).

Our approach  is based on the following three steps:

  • Identifying cyber security gaps by assessing the maturity and strength of more than 50 security controls 
  • Quantifying the specific security risks of the organisation and calculating the potential financial impact of cyber attacks
  • Prioritising remediation actions that are required to improve the security posture of the company and reduce its risks, by means of a series of “what if” scenarios. This helps to identify the actions with the highest ROI.

Having a solid Cyber Risk Management is one of the elements at the basis of a strong cybersecurity posture. Moreover, any organisation adopting a strategy that is based on Cyber Risk Quantification results in a better cyber-posture of the company.

Looking for further information on how we can help you with Cyber Risk Management and Quantification? Contact us now

Federico Deprati