Cyber risk quantification

Understand your cyber risk to protect what matters most

US Solutions

With increased spending to defend against cyber threats, more effective financial measurements are needed to support more rigorous decision-making and answer questions including: “what are the potential financial losses from each cyber risk?” “how much cyber insurance does my organization need?” “which risks should be prioritized?” and “how can we calculate ROI on cybersecurity investments?”

US Solutions

Understand your cyber risk to protect what matters most which ultimately leads to more informed decision making

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
CRQ enables security leaders and executives to “speak the same language” in financial terms. With financial measurements in hand, you can effectively mitigate risks by making the right investments and increasing ROI. Ultimately, a repeatable and scalable process is developed.

Identify top risks
Cyber risk quantification begins with assessing an organization’s current risk landscape. By considering the elements of threat and analyzing the threat in financial terms, Protiviti can target and build a portfolio of top vulnerabilities or critical assets to be prioritized.

Understand risk’s true impact
Protiviti leverages and blends your data, industry data, threat intelligence, and subject matter expertise to get the true picture of risk. Cyber risk quantification translates each potential risk to dollars and cents to forecast an estimate of your organization’s potential future loss exposure and allocate 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 which ultimately leads to more informed decision making

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 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

Leverage targeted-scope risk assessments based on industry frameworks or compliance standards (e.g., NIST, PCI, NYDFS, HIPAA, etc.), enabling you to select and prioritize risk treatment options.

 

Organizational 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, prioritize, and integrate quantification methods with your existing third-party management capabilities.

 

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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 programs.

Prioritize 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 prioritized 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.


Protiviti’s approach to cyber risk quantification includes input from business users, asset owners, and key technical experts

Leading the way on 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 organization supporting the use of CRQ, and a partner of RiskLens , the leading software as a service based on the FAIR model.

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

Leadership

Andrew Retrum
Andrew Retrum is a Managing Director and business-oriented leader within Protiviti’s Technology Consulting Practice. He currently has dual leadership roles, for both the Global Financial Services Security Practice and the US Security Program & Strategy Practice. ...

CISO Next initiative

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?”

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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.

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