What is a Risk Assessment?

An information security risk assessment is a formal process used to measure threats, vulnerabilities and their potential impact on an organization. This frequently required step of regulatory compliance helps organizations to identify, analyze, and understand their actual risks.

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Why Risk Assessments Matter to Your Security Strategy

Before you sink any more money into your security system or start drafting your cybersecurity budget, a risk assessment can tell you what, where, why and the amount of resources that are needed to defend your data.

Risk assessments are also required for compliance with many cybersecurity standards, including PCI DSS, SOC2, ISO 27001, NIST, HIPAA and more, as an essential part of a strong security program. These comprehensive reviews are the fundamental building block for an organization’s information security posture and a crucial first step of smart security strategies.

Unfortunately, many security teams and organizations don’t want to commit the time and internal resources required for a risk assessment. Others may not see the point of assessing what they believe is already “good security.” Or, they may not believe the results of a risk assessment are valuable. 

So why invest in a risk assessment?

  • To protect against data breaches
  • To comply with important regulatory standards
  • To accurately assess and prioritize qualitative security improvements by risk
  • To make security investment decisions using a cost-based analysis comparing security expenses to the potential price of not addressing those vulnerabilities

The Truvantis® Advantage

Risk assessments are almost always beyond the capabilities of an internal IT team. Results also rely largely on your vendor. As a top-tier provider of risk assessments around the world and a team of only senior security specialists, the Truvantis team can remotely provide valuable, hands-on service to organizations everywhere. 

Our unique approach to risk assessments is in our structured methodology that:

  • Is lightweight and low-impact
  • Provides actionable results
  • Culminates in a remediation plan that we can execute on

Unlike some other providers of this service, our team is experienced and versatile enough to take every action you need to mitigate risks and harden your security post-assessment.

Whitepaper: Get Real Value from Your Risk Assessment

They key to a successful risk assessment is understanding the recommendations that come from it.

Learn six valuable insights from our senior team concerning how you can use the information from a risk assessment.

Click the button to get your free copy of our whitepaper.

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Understanding the Risk Assessment Process

1

Gathering Assets

Our team begins each assessment with a deep dive into your current systems, data and security to gather everything that’s relevant for our comprehensive review.

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2

Assessing Vulnerabilities

Next, we’ll search for vulnerabilities, potential threats and ways your assets could be exploited.

3

Matching threats to vulnerabilities in risk scenarios

Now, our experts form risk scenarios by matching your vulnerable assets with every potential threat it faces.

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4

Forecasting Threat Probability

Then, our team assesses the frequency, probability and projected impact of each type of exploitation.

5

Outlining a Strategy

Finally, all of this data is used to develop a matrix known as a risk register. This includes a “treatment program,” or action plan for mitigating, avoiding, transferring or accepting your risks, as well as a ranking of both threats and vulnerabilities by severity, cost and experience required to execute. 

With your risk assessment in hand and the Truvantis team to walk you through each detail, you can prioritize and strategize every known security issue facing your organization.

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Start Assessing Your Risks with Our Help

The Truvantis experts are here to help you navigate modern cybersecurity and protect your organization, so you can focus on what’s most important to your business.

Learn more about risk assessments in our comprehensive guide or contact our team today.