INTEGRATED CYBER RISK MANAGEMENT PLATFORM
Annual, check-the-box risk assessments can open the door to elevated cyber risk if the mitigating controls aren’t well-designed or effective. DefenseStorm offers the only built for banking cyber risk management solution with integrated custom risk assessments.
Financial institutions like yours have regulations, guidance, best practices and examiner expectations to consider when building out cyber programs. Risk assessments help financial institutions identify new and emerging risks, realize changes in risk levels and make informed risk-based decisions for budgeting, resource allocation and strategic planning. However, risk assessments can also be daunting and are often a manual task.
GRID Active Risk Assessment takes an automated approach to risk assessments to achieve a complete picture of cyber and information security risks and controls. With a real-time understanding of risk profiles and insight into impactful action items, your financial institution can better identify and manage risk interdependencies across the entire organization – taking your systems from reactive to proactive.
Control registers and generate custom risk assessments based on your financial institution’s unique risks and programs. Access prebuilt libraries of risks and controls to build out your register, which is pre-mapped to each other, frameworks, and self-assessments built into the GRID Active Governance Program, making it even easier to prove adherence to industry and regulatory control frameworks.
Leverage systematic evidence collection against controls in the register to support control effectiveness scores with security operations and governance activities happening daily within the GRID Active platform. With supported and evidenced control scores, your residual risk scores are more accurate and reliable.
Filter risk assessments based on your organization’s unique needs to create smaller risk assessments, such as an eBanking risk assessment, or one large information security risk assessment encompassing all risks in the register. You have the flexibility to use an aggregate risk score based on the population of risks with a quantitative scoring model or select your own aggregate risk scores. Better tracking of your risk assessments enables a clear picture of how your risk profile has evolved over time.
Maintain individual risk profiles for all systems and applications in use at your financial institution. Link inventory items to risks and controls in the registers to achieve a full scope of cyber and information security risks and controls.
GRID Active Reporting enables financial institutions to exercise informed decision-making through consistent metrics and ensure confidence in the execution of strategic risks.
Through strong reporting, FIs can customize their reports based on audience and timing to better demonstrate the overall risk objectives are being met.
How do you measure up? Take this quick self-evaluation to determine your risk-related priorities.
DefenseStorm offers a proactive approach to cyber risk management so financial institutions can stop cyberthreats before they become destructive cyberattacks, allowing them to better protect their account holder and communities.
DefenseStorm’s Senior Consultant for Risk and Governance, Jessica Caballero, discusses how changing your perspective on cyber can translate into more effective practices to protect your financial institution.