Understanding a company’s cybersecurity and technology risks is the first step to preventing them. The second step is to develop the specific capabilities to manage those risks. That’s why companies rely on CIOSO; our capability maturity assessment and expert guidance on everything from potential solutions providers to regulatory compliance will help your organization keep risk in check. We thoroughly assess your current security posture to help you identify and document critical risks and their indicators, such as data breaches, system vulnerabilities, and regulatory non-compliance. This knowledge enables you to recognize early signs of potential issues and respond more effectively and quickly in the future.

When dealing with risk, there are four options:

1. Remediate
2. Mitigate
3. Transfer
4. Accept

We pinpoint the processes, procedures, and critical personnel essential for an effective risk management strategy. We then guide you in assessing which options are currently feasible and help you choose the best course of action, plus assist in developing documentation with accuracy and completeness.

Once risks are identified, addressing them swiftly and effectively is crucial. Delays in responding to incidents, whether due to user error, software misconfigurations, or service provider disruptions, can exacerbate the situation. The longer it takes to resolve these issues, the greater the potential loss for your company.

That’s why CIOSO, with a deep understanding of your unique challenges, works closely with our clients to develop tailored risk remediation, mitigation, transfer, and acceptance plans. These plans can lay out a playbook for your team that will keep incidents from negatively impacting your business for an extended period. The plan includes identifying the root cause, allowing you to address the symptoms and underlying issues that continuously give rise to risks. We can also assist with compensating controls and mitigating measures for reasonable solutions to more complex and long-term problems.

While businesses always seek to reduce their risk exposure, every venture includes some level of risk. What differs is the level of risk that an organization is willing to tolerate as part of doing business. At CIOSO, we understand the factors that make some organizations more resilient in the face of risks than others, and we coordinate with our client’s senior leadership to quantify the risk appetite throughout the business. This involves a thorough assessment of the organization’s risk tolerance, considering factors such as industry norms, regulatory requirements, and the organization’s financial health. This information is then used to guide our risk management strategies, ensuring they align with your organization’s risk appetite.

We offer carefully tailored and documented risk management frameworks to help you better understand, plan for, and mitigate the potential impact of repeatably approaching risks. We also develop proactive processes designed to classify and remediate cybersecurity and technology risks for your organization. Our leadership team comprises highly respected risk and security experts who stay ahead of industry trends. With CIOSO Global supporting you, you gain an early advantage in preparing for risks that might take your competitors weeks or months to recognize.

You’ve developed an excellent cybersecurity and risk management plan, but implementing it effectively depends on your team’s readiness. Ensuring your staff is thoroughly trained and well-versed in the latest industry practices is crucial to mitigate risks effectively.

CIOSO collaborates closely with you to define your organization’s strategic objectives across short-, medium-, and long-term horizons and identifies the skills your team needs to achieve these goals. When there’s a gap between the skills you need and what your team currently has, we’ll devise a strategic plan to bridge this gap. This plan includes enhancing the skills of your existing team through training programs, workshops, and mentoring, and recruiting new talent best suited for specific roles from outside the organization. For example, if your team lacks expertise in cybersecurity, we can help you identify the necessary skills and provide training to fill this gap, ensuring your team is equipped to implement your risk management plan effectively.