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Cyber Risk Quantification

Understand your cyber risk to protect what matters most

Protiviti helps organisations in Hong Kong strengthen cyber risk management by quantifying cybersecurity risks in financial terms. Through cyber risk quantification (CRQ), organisations can better understand potential loss exposure, support risk-based decision-making and align cybersecurity investments with business priorities.

With increased spending to defend against cyber threats, more effective financial measurements are needed to support rigorous decision-making and answer questions including:

  • "What are the potential financial losses from each cyber risk?”
  • "How much cyber insurance does my organisation need?”
  • "Which risks should be prioritised?”
  • "How can we calculate ROI on cybersecurity investments?”
How can we calculate ROI on risk investments?

Cyber risk quantification services

Risk landscape quantification

Understand your risk appetite and determine risk and asset priorities. Use quantitative analysis to evaluate top cybersecurity risks, which can help executives make dollars-and-cents decisions.

 

Cyber risk quantification program build

Build cyber risk quantification capabilities and integrate them into your existing risk management framework. This provides an ongoing, sustainable program for executive leadership to support meaningful decision-making.

 

Targeted quantitative risk analysis

Deliver targeted cybersecurity risk assessments aligned with Hong Kong regulations, including the HKMA Cybersecurity Fortification Initiative (CFI), SFC cybersecurity requirements, and the PDPO.

 

Organisational decision support

Model loss exposure from individual scenarios and demonstrate return on investment and risk reduction by building specific business cases and supporting sound risk treatment decisions tailored to an individual project, initiative or investment.

 

Third-party risk quantification

Develop, prioritise and integrate quantification methods with your existing third-party management capabilities. Assess and quantify third-party and supply chain cyber risk, strengthening vendor risk management and regulatory compliance.

 
Understand your cyber risk to protect what matters most

The value of cyber risk quantification

Cyber risk quantification builds upon the qualitative nature of cyber risk assessments and models risk in business terms, which ultimately leads to more informed decision making. 
Cyber risk quantification can empower you to:

Make better decisions
Cyber Risk Quantification (CRQ) enables security leaders and executives to “speak the same language” in financial terms. With financial measurements in hand, you can demonstrate how making the right investments can mitigate your cybersecurity risks and increased ROI.

Identify top risks
Cyber risk quantification begins with assessing an organisation’s current risk landscape. By considering the elements of threat and analysing the threat in financial terms, Protiviti can target and build a portfolio of top vulnerabilities or critical assets that reflect your priorities.

Understand risk’s true impact
Protiviti blends your data with industry data, threat intelligence and subject matter expertise to get a true picture of risk. Cyber risk quantification translates each potential risk to dollars and cents to forecast an estimate of your organisation’s potential future loss exposure and allocate your organisation’s resources to the most effective risk treatments.

Establish a clear, repeatable risk analysis method
Cyber risk quantification improves on historical risk assessments and analysis processes by requiring clear assumptions and defined estimates. The process is transparent and allows for continuous improvement that cannot be achieved through qualitative methods.

Understand your cyber risk to protect what matters most

How we leverage cyber risk quantification

Protiviti empowers our clients to make data-driven decisions. Cyber risk quantification allows you to:

Make effective risk management and budget investment decisions.

Cyber risk quantification helps you understand risks in terms of impact on overall business value while significantly reducing uncertainty and narrowing the range of potential loss outcomes. This helps manage and mitigate risks by allocating appropriate budget, time, and resources to risk management programs.

Prioritise risks, assets, and threats to identify and protect what matters most.

Cyber risk quantification identifies critical risks that are the most likely to occur. Using the data from these analyses, effective comparisons can help decide which risks should be prioritised and which risks can be revisited later. This can save time and money while mitigating impactful risks.

Communicate and express risk to executive leadership in a commonly understood, repeatable way.

Through probabilistic analysis and the use of financial models, quantifiable data can be turned into valuable information. Communicating the range of potential loss in a commonly understood way – i.e., financial terms – allows management to clearly understand and make more informed investments.

Why organisations in Hong Kong choose Protiviti cyber risk quantification

Protiviti’s cyber risk quantification (CRQ) solution delivers a continual, data-driven assessment of a company’s current state of cyber risk. Protiviti is a Founding Advisory Partner of the FAIR Institute, the leading professional organisation supporting the use of CRQ.

This puts Protiviti at the forefront of innovative CRQ approaches and thought leadership. The Protiviti team includes members from varying backgrounds, all specialising in quantifying risk.

What is Cyber Risk Quantification (CRQ)?

Cyber risk quantification uses industry-leading and highly vetted probabilistic models to more accurately describe a company’s cybersecurity and technology-based risks. Protiviti leverages Factor Analysis of Information Risk (FAIR) to conduct cyber risk quantification, which provides an understanding of the financial loss exposure related to cyber threats on a per scenario and aggregate basis. The FAIR model is open source and industry-vetted, which helps organisations understand the analysis and translate it between all stakeholders and even other organisations.

Cyber risk quantification is not an entirely new process in relation to traditional qualitative risk models (i.e., NIST CSF). A traditional control-based assessment informs where vulnerabilities and gaps are present, but cyber risk quantification goes a step further and translates those vulnerabilities into dollars-and-cents terms executive leadership can understand to compare risks and focus on those with the most impact. Both processes complement each other through a thorough analysis of assets, threats, and effects.

Protiviti’s approach to cyber risk quantification includes input from business users, asset owners, and key technical experts who may not have been previously included in cyber risk assessments. We then take readily available industry and threat data to these subject matter experts to make more accurate measurements for each factor within a given risk. This approach helps organisations build a more defensible, transparent and repeatable cyber risk management process while improving communication between cybersecurity teams, executive leadership and boards.

Cyber risk challenges facing organisations in Hong Kong

Organisations in Hong Kong face an increasingly complex cyber threat landscape, driven by digital transformation, cloud adoption, third-party dependencies and evolving regulatory expectations. Senior executives and boards are under pressure to make informed cybersecurity investment decisions while balancing operational resilience, business growth and risk management objectives.

Cyber risk quantification provides a practical framework for translating technical cyber risks into business terms, helping organisations improve governance, prioritise investments and communicate risk more effectively to stakeholders.

Case studies

Situation: A consumer products and services company lacked enterprise-level risk landscape clarity and did not have the resources to maintain a cyber risk quantification program.

Value: Protiviti helped increase the risk landscape clarity of application and infrastructure environments and developed cyber risk quantification policies. More than 80 triage risk assessments were conducted, and training and workshops were completed for members of the security engineering team.

Situation: An international bank group needed support to structure its cybersecurity program. A study of the bank’s business risks was conducted to address the business needs of the cybersecurity program.

Value: The bank received new insight into their IT controls and cybersecurity infrastructure and gained access to a preferred supplier that immediately supported their cybersecurity infrastructure needs.

Situation: An international bank wanted to define and document its three-year cyber security strategy.

Value: Protiviti provided the bank with a digital visualisation of the control blueprint, a threat analysis approach, and models of two example threats.

Situation: A large insurance and financial services organisation had issues with its data privacy and security policies and procedures, which were not evolved to address emerging data privacy and security regulations.

Value: Protiviti provided improvements to security risk management practices and strengthened the privacy compliance posture of the organisation.

Frequently Asked Questions

Why is cyber risk quantification important?

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Traditional cybersecurity assessments often rely on qualitative risk ratings. Cyber risk quantification provides financial measurements that help executives, boards and risk committees understand cyber risk in business terms.

How does cyber risk quantification support cybersecurity investment decisions?

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Cyber risk quantification enables organisations in Hong Kong to compare potential losses against the cost of cybersecurity controls and initiatives. This supports more effective investment prioritisation and resource allocation.

What methodology does Protiviti use for cyber risk quantification?

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Protiviti leverages the FAIR (Factor Analysis of Information Risk) methodology, an industry-recognised framework for modelling and analysing cyber risk in financial terms.

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