Enhancing Network Resilience- The Benefits of Risk Management

Enhancing Network Resilience- The Benefits of Risk Management

Benefits that a Network Administrator Can Acquire by Conducting Risk Management

Cyber risk management can help identify threats facing the company and take measures to prevent and mitigate them (Brockett et al., 2012). A risk treatment strategy helps ensure that risks are dealt with properly and appropriate safeguards are put in place. This will reduce the threat of cyberattacks. Risk assessment helps reduce costs and ensure revenue. Many attackers want money, so every organization is at risk of a breach. To minimize losses in income for an organization and reduce its risks, it must develop a cyber risk plan. The firm may avoid paying hefty fines for non-compliance by following cyber risk regulations.

In addition, risk assessment improves corporate image. The organization can gain a competitive advantage by showing its commitment to cybersecurity to its customers as well as clients. Putting data first means winning customers’ or clients’ trust. Long-term business success and greater consumer loyalty follow.

Roles and Responsibilities

Chief Information Officer

The CIO is responsible for ensuring that the delivery of IT services meets organizational requirements for operation. Further, the CIO organizes risk assessments for information security. The CIO oversees information security planning, execution funding, staffing, program creation, and reporting (Furnell, 2021). They ensure the risk management strategy aligns with the cyber risk and establishes operational priorities

Chief Information Security Officer

The Chief Information Security Officer’s (CISO) duty is to help translate and execute the risk management strategy (Furnell, 2021). The Chief Information Officer develops policies that protect information and assets, ensures that knowledge workers comply with best practices by having policies in place, and sets rules for disposal methods, encryption techniques, logging methods, review processes, and exception procedures. The CISO also approves policies, practices, or requests related to cybersecurity procedure management, discusses a wide range of themes and actions related to the organization’s cybersecurity management process, and reports incidents involving information security to the CIO or other relevant leadership. Furthermore, the CISO uses governance structures and compliance strategies to provide management and execution oversight of the information security management program through cooperative connections with academic and administrative officials.

References

Brockett, P. L., Golden, L. L., & Wolman, W. (2012). Enterprise cyber risk management. Risk management for the future–Theory and cases, 319-340.

Furnell, S. (2021). The cybersecurity workforce and skills. Computers & Security, 100, 102080.

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Risk management is the process of reducing and maintaining uncertainties in the system by using a well-defined security program.

Respond to the following in a minimum of 175 words:

Discuss 3 benefits that a network administrator can acquire by conducting risk management.
Discuss 2 key roles and responsibilities in risk management.