Integrated Risk Management
NexGen Integrated Risk Management (IRM)
A Titanium Backbone for Every Organization
The Program
fnCyber's Integrated IT Risk Management Service aims to capitalize on the Systems Risk Management strength; outlines how Enterprise IT Systems Risk is distributed across the Organization's Operational and Compliance elements, thereby drawing Benefits, Value and ROI. IRM also drives a Risk-Aware Culture to ensure risk is addressed till the last mile with Inherent Risk Mitigation Capability, Investment Optimization and cater to Business requirements in Continuity and during Disasters.
fnCyber™ learns by mapping Business Goals and Objectives to its IT Systems, Policy and Governance Landscape; deriving a Baseline along with existing controls; thereafter improvising the existing internal controls without altering eco-system to maximize the ROI of the current infrastructure.
The Approach
fnCyber™ Integrated IT Risk Management Service, with its hybrid approach, utilizes both top-down and bottom-up frameworks to understand how Cybersecurity Risk is perceived in all organizational layers. IRM Integration relies on Enterprise Architecture Framework at its backbone, drawing the characteristics of Risk Culture, Appetite and Tolerance at various levels, with an understanding of how risk and capabilities travel across the Enterprise.
In any organization; decisions are made in a layer and executed at a different layer; hence the most critical aspect of the IRM is to explore various Risk Mitigation strategies with all their advantages and disadvantages, deploy optimum controls in line with the Business Owners Risk Perception and agreement with other stakeholders. Critical Success Factors would include benefits measurements against goals such as business to explore a range of opportunities; Manage Entity-Wise Systems Risk, IT Support and Performance. The security risk management program includes extensive facilitation and brainstorming sessions, constantly engaging all the stakeholders in every phase to establish one risk view across the organization.
The Phases
The Program requires a team of nominated stakeholders as Change Champions to form a core team and drive implementation. IRM takes a long-run commitment to mature, and the executive committee is a must with continuous reinforcement for multi-dimensional growth. IRM Strategy should be reviewed annually and in sync with Business Continuity and Disaster Management.
