With the increasing number of cybersecurity attacks, it is crucial to conduct regular IBM i Security Risk Assessments to protect your organization from intruders, attackers, and cybercriminals. Cybersecurity is all about understanding, managing, controlling, and mitigating risk to your organization’s critical assets.
What is a Security Risk Assessment?
A Security Risk Assessment is the process of evaluating risks that could be affected by cyberattacks. You identify both internal and external threats, evaluate their impact, and estimate the value of cybersecurity incidents. With this information, you can define your cybersecurity and data protection controls to match your organization’s risk.
Why Should I Get a Security Risk Assessment?
A Security Risk Assessment should be part of your best practices. It is a good way to measure your security posture, assess your system, as well as check and detect your risk and potential losses. It’s not something you only assess once, it should be done regularly and part of your security strategy. Knowing your risks can help you to be proactive and prevent a security breach.
Running a Security Risk Assessment in advance can also help you become prepared prior to a compliance audit to address any vulnerabilities and that can get in the way of passing your audit.
In addition, a Security Risk Assessment can be part of many regulations and compliance standards. For example, some regulations require a Security Risk Assessment as part of their compliance requirements like PCI-DSS for credit card transactions, GDPR for protection of private information, and NYS 23 NYCRR 500 for banks, insurance companies, and other financial services to protect consumers.
The Value in Investing in a Security Risk Assessment
There are many reasons why you should invest in a Security Risk Assessment. The main reason for investment is to protect yourself against costly and disruptive breaches and improve the protection of your system and data. Security Risk Assessments with a detailed risk analysis will map out exactly which threats take priority. Outlining the impact for each vulnerability will identify the effect on your business if left neglected.
For technical, operational, and budget reasons, it can be difficult to make all of the changes to your security at once. iTech Solutions’ Security Risk Assessment will help you to justify which areas need better protection. We can help you prioritize and determine which risks you’re willing to live with.
Getting to Know VERIFi Security Advisor
The Security Risk Assessment tool we offer at iTech Solutions is VERIFi Security Advisor. VERIFi Security Advisor provides a proactive overview of your system’s security and assesses the information collected from your system. This includes system values, user profile security, audit journal, invalid password attempts, encryption, and more. The iTech security experts then meet with you to roll out detailed plans and solutions to detect vulnerabilities and options to alleviate them.
With VERIFi Security Advisor, you can see which parts of your security measures are relatively weak and can be targeted by the attackers or what security threats remain open for your organization.
This will help you identify and solve these vulnerabilities and enhance the cybersecurity posture of your organization. Regular review of your security controls using our analysis tools can improve the efficacy of the steps you have taken.
Additionally, VERIFi Security Advisor can help you meet many industry-related regulatory compliances like PCI-DSS, GDPR, and more.
VERIFi Security Advisor will deliver a bi-monthly report right to your inbox. The report covers many areas including PTF’s, user profiles, and system settings. It shows you how open your system is and helps you make some decisions about how to secure your system and data.
The iTech Solutions’ Security Risk Assessment Process
Here’s a quick overview of our risk assessment process at iTech Solutions:
1st Step: We deliver your security information bi-monthly with VERIFi Security Advisor. This includes default passwords and weak passwords, too many users with high privilege levels, poorly configured system security settings, etc.
2nd Step: We assess your vulnerabilities and our team looks for any way your assets could be exploited. We outline any vulnerabilities and potential threats to the security of each.
3rd Step: We help you prioritize what needs to be addressed first, and roll out a strategic plan that will help to mitigate or avoid each issue.
Now that you understand the importance of performing a risk assessment, your next step is to be sure you get the most out of your investment. You don’t have to do all the hard work alone.
Our team at iTech is here to take care of the entire process, so you can focus on what’s most important to your business.