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Cyber Risk Strategies, LLC

 

Every business, regardless of maturity or industry, faces a wide variety of risks. These risks come in many forms, including market risks, financial risks, legal risks, and more. One of the most challenging areas is the risk associated with information and information systems – cyber risk. Virtually every business today is facing cyber risks, ranging from the loss of information on a single laptop to disruption of its entire business due to a data center outage, and the cyber risks that a business encounters are constantly changing.


It is the responsibility of every business to understand and address the risks they face by complying with regulations and exercising due care when considering all the firm’s stakeholders. Risks can be accepted, mitigated or transferred, but they should never be ignored. The mission of Cyber Risk Strategies (CRS)  is to work with senior management of businesses ranging from start-ups to multi-national corporations to develop efficient and effective approaches for identifying and managing cyber risks.


Defining and implementing an effective cyber risk strategy typically involves a process of:


“Risks can be accepted, mitigated or transferred, but they should never be ignored.”

Understanding the business and its environment

Reviewing the current approach to information security and risk management

Assessing the approach against regulatory requirements and stakeholder expectations

Developing a tactical plan to address any identified gaps or issues

Developing a strategic plan for ongoing identification and management of cyber risks

 
 

Implementing an effective and adaptable cyber risk strategy reduces the probability of having costly and damaging incidents that result from being unaware of the business’ evolving cyber risk posture.