RISK ASSESSMENT

IT Risk Assessment Service

What We Do

Dealing with risk is a gigantic concern for organizations in all industries.  Our Risk Assessment service is a general, high-level controls review of your organization’s risk and follows the Information Security Lifecycle methodology which is based on industry best practice.

IT Risk Assessment Process

Our Approach

Our specialists follow a scope of work that covers all the major risk areas of your organization. A typical risk assessment process consists of assessing Inherent Risks compared to Safeguards (mitigating controls) to represent the current status of risk. That assessment represents the Overall Risk Level simplified in the equation below. Inherent risks are identified without consideration of Safeguards or Cybersecurity Maturity.

Garland Heart's Risk Assessment Service

Inherent Risk is commonly found by considering the actual threat, determining if it compromises the organization, coupled with the potential impact and probability of exposure. Here are 3 factors used to further defined inherent risk:

  • Threat: Identify by considering the type of impact to your institution. It could be regulatory, financial, reputation, and/or operational areas.
  • Impact: Taking a threat identified and establishing a risk level for one or a combination of areas such as financial, strategic, operational, compliance, disaster, or more.
  • Likelihood: The probability a specific threat could happen within a designated time frame or frequency.

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