Operation Risk Management, a leading provider of risk management solutions, has launched a new program to help businesses reduce their cyber risk. The program, called “Operation Risk Management: Cyber Resilience”, provides businesses with a comprehensive toolkit to help them assess and mitigate their cyber risks. The toolkit includes resources on risk identification, assessment, and mitigation, as well as best practices for incident response.
According to Operation Risk Management, cyber risk is one of the most significant and pervasive threats facing businesses today. Cyberattacks can cause severe damage to businesses, such as data breaches, operational disruptions, financial losses, reputational harm, and legal liabilities. Cyberattacks can also affect the customers, partners, suppliers, and employees of businesses, as well as the wider society and economy.
Operation Risk Management employs a comprehensive four-step framework to bolster businesses against cyber threats. It begins with asset identification, pinpointing critical systems and potential risks. Next is the assessment phase, where the impact of cyber scenarios is evaluated, including cost-benefit analyses of risk mitigation strategies. The third step involves implementing chosen risk reduction measures, like strengthening security controls and enhancing recovery capabilities. Lastly, the response phase prepares businesses to promptly detect, contain, and recover from cyber incidents while learning from each experience to enhance future readiness.
Operation Risk Management’s Cyber Resilience program provides businesses with a comprehensive toolkit, including a Cyber Risk Assessment Tool for identifying and assessing risks, a Cyber Risk Mitigation Guide offering practical advice, a Cyber Incident Response Plan Template for response strategies, a Cyber Incident Response Checklist for execution, and a Cyber Resilience Training Program to raise awareness and educate staff on key cyber risks and best practices.
Operation Risk Management claims that its Cyber Resilience program can help businesses achieve better outcomes by reducing their exposure to cyber risks; increasing their ability to prevent, detect, and recover from cyberattacks; enhancing their reputation and trust among stakeholders; and complying with regulatory requirements.
Operation Risk Management has already partnered with several organizations across different industries and regions to implement its Cyber Resilience program. Operation Risk Management plans to continue expanding its program by incorporating new features, functionalities, and integrations based on client feedback and market demand.
