Risk Analysis

Understanding Risk is the First Step Towards Better Security

risk analysis and managment
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Identify

We start by understanding your environment and business processes then we identify threats that may compromise the workflow or data security including natural disasters and insider or outsider threat actors

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Evaluate

We evaluate the likelihood of any threats and the impact the threat would have on the business and security of data if it were successful

Mitigate

Once you have defined the risks and their impact you can begin to find ways to reduce risk in your company starting with actions that would have the greatest overall impact on reducing risk

Monitor

With mitigating controls in place, it is important to monitor the effectiveness of the controls at reducing risk and reflect this in the risk analysis and your risk management program

Why You Need Risk Analysis

A good security practice starts with a Risk Analysis. You need to define what you are protecting and what risks are posed to it before you can truly understand what you need to do to protect it. A risk analysis helps you fine tune just what you need to be doing instead of applying a general purpose security program to everything. Our methodology covers every industry and regulatory standard to ensure you are not just meeting requirements, but are exceeding them. We evaluate your risk level to help you determine what security controls you need and develop a plan to implement and monitor those controls.

The Risk Analysis evaluates the likelihood and potential damage of identified threats (cyber attack, natural disasters, etc.) and measures the individual risk of each asset. Next, we evaluate the effectiveness of existing controls to mitigate the risk. The results help you identify which assets are more critical and prioritizes them. we also provide recommendations for improving your security posture and reducing your risk.

Many organizations are required to perform Risk Analysis by regulations such as HIPAA, FFIEC, FDIC, PCI, NCUA, etc.. Our Risk Analysis exceeds all regulated requirements and identifies best practice guidelines. During the Risk Analysis, we map the assessment to your specific regulatory requirements as applicable.

Shades of Gray Security Risk Analysis

We have created a standard methodology based on NIST 800-30 that ensures you exceed all regulatory requirements. We closely examine your organization and determine your threat vectors, effectiveness of controls, asset information, and cost of potential losses. We work closely with our clients to customize the Risk Analysis to fit their specific needs. We cross reference the Risk Assessment for easy discovery by regulators to ensure you are meeting their requirements. Our standard has resulted in an easily repeatable process which help save you time and money.

Data Gathering

You will receive a Request For Information (RFI) from Shades of Gray Security which will help you collect the data we need in order to conduct the Risk Analysis. By working with you through the RFI we will begin to understand your organization, identify key personnel, and key documentation and systems that will require closer examination. Once prepared our examiners will evaluate the data collected, develop a plan for the test, and schedule an on-site visit with you to conduct the Risk Analysis.

Risk Analysis

We continue to work with you during the process of analyzing the findings. We group assets and weigh their risk based on Confidentiality, Integrity, and Availability (CIA). We define your threats and map them to your organization. We calculate the probability of an incident and determine the loss associated. On the next layer, we evaluate the controls you currently have implemented to mitigate the identified risks. Finally, we perform a complete Risk Analysis on the entire project and give you a brief upon completing the engagement.

Risk Analysis Report

Once completed, we evaluate all the findings and provide you with a detailed report which covers an overview of the Risk Analysis, details the methodology used in the engagement, an executive summary, a detailed Risk Analysis broken down by asset groups for easy browsing, recommendations for improving your security posture, and an Appendix containing all raw data we collected during the Risk Analysis.

Don't Risk Your Business

It’s risky business not having a Risk Analysis. Contact us today to begin your Risk Analysis.

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