Cyber Risk Quantification
Understand your Cyber Risk to protect what matters most
With increased spending to defend against cyber threats, effective financial measurements are needed to support decision-making and answer questions like: “what are the potential financial losses from each cyber risk?” “how much cyber insurance does my organisation need?” “which risks should be prioritised?” and “how can we calculate ROI on cybersecurity investments?”
We help organisations understand cybersecurity risks for budgetary justification, investment re-prioritisation and implement programmes to manage risk.
Our 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 Programme Build
Build cyber risk quantification capabilities and integrate them into your existing risk management framework. This provides an ongoing, sustainable programme for executive leadership to support meaningful decision-making.
Targeted Quantitative Risk Analysis
Leverage targeted-scope risk assessments based on industry frameworks or compliance standards (e.g., NIST, PCI, NYDFS, HIPAA, etc.), enabling you to select and prioritise risk treatment options.
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.
Protiviti’s approach to cyber risk quantification includes input from business users, asset owners, and key technical experts
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 programmes.
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.
What is next for CISOs?
The CISO Next initiative produces content and events crafted exclusively for CISOs, with CISOs. The resources focus on what CISOs need to succeed. The first step is finding out “What CISO type are you?”
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.
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.
Value: Protiviti provided the bank with a digital visualisation of the control blueprint, a threat analysis approach, and models of two example threats.
Value: Protiviti provided improvements to security risk management practices and strengthened the privacy compliance posture of the organisation.