Can you share any effective processes/strategies you’ve used to integrate cyber risk management and enterprise risk management at your org?

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Director of Information Security in Banking5 months ago

I suppose it depends on the organisation and the industry.  Based to my experience, highly regulated organisations such as financial institutions are led by Enterprise Risk Management, and it is usually challenged to integrate cyber risk management into the "old school" ERM. Having separate risk register, governance committees, control testing program for tech/cyber is one option while adhering ERM principles

Sr. Director, Internal Audit & Enterprise Risk in Software5 months ago

We implemented a Risk Management Operating Committee that meets on a regular cadence. It has representation from ERM, IT, Cyber and Legal.  This is where we discuss cross-functional risks/issues as well as cover any emerging risks that we should be aware of.

Director of Systems Operations in Healthcare and Biotech7 months ago

Integrating cyber risk management and enterprise risk management into the onboarding process is key. Old school security by design. If it's part of your onboarding / intake etc. this will help adoption and understanding. Risk and security shouldn't be the function of one team, it should be a collaborative effort, which everyone within the organization practices. 

Director of Information Security in Finance (non-banking)7 months ago

Ahoi!
Many enterprises implement "business led IT" that means that the organizational owner of a business process (B-1) is accountable for all facilities that directly support this process.
In detail that makes the risk management also part of this accountability.
It is obvious, that we need to have a look at the operational risk to get the link the cyber risk management and IT Security.
First of all, we need to collect the whole set of required parameters (C, I and A) to inherit them top down to the infrastructure, from the application to servers, components and internal and external dependencies.
Bottom up we defined a set of Key Risk Indicators, derived from operation parameters on CIs that work for a certain business process:
* Vulnerabilities
* Incidents
* Defects during testing on self developed software
* descoped featured during the development
All these from a KRI and the Risk Committee decided on the thresholds between which a business owner can decide on his/her own: 0 to 50
51 to 75: The business owner has the plan measures to get back to 50 or below and get that decided by his responsible Board Member
76 and more: The case has to be presented to the Risk Committee
Beside that, the personal goals of a business owner may include the value of the KRIs and affects the bonus there.
The effect was slow but constantly including Cyber Security requirements into the PI planning of IT development and the patching and upgrading of system was easier to achieve.
Prior to that, lifecycle management tasks that led into redevelopment of software were repeatedly down-prioritized and not finished on time.

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