Understanding how various elements contribute to your overall insider risk is essential to help you build a successful risk management program.
Over the last several years, high-profile data breaches and leaks have shined a spotlight on insider risk management. Companies in every industry have been dedicating more resources towards the mitigation or response to insider threats as part of their security program. While mitigation is certainly a necessary component in any security risk management program, it is by no means sufficient. A well-designed insider risk management program takes a holistic approach by examining all of the factors that contribute to the risk of the organization and uses that information to craft effective strategies. There are three risk elements that must be addressed to properly manage insider risk.
Threats
Clearly, one of the main areas of focus should be on the threats your organization might be facing. Detecting these threats can be challenging – there are various legal considerations to take into account if you plan on monitoring employees, and sifting through the sheer volume of unstructured data once monitoring has been started can get messy. A solid plan will make use of various technological tools to help you separate the chaff from the useful data, but it will still be incumbent upon the team to take necessary actions as needed.
Vulnerabilities
Another key area of focus should be on identifying your organization’s vulnerabilities and determining steps that need to be taken to patch them up. Currently, there is a shocking lack of widely adopted standards and requirements in place for insider risk management programs outside of the Federal sector. Having an experienced team like ITMG on hand to assess your organization is massively beneficial in helping to identify and address vulnerabilities. These vulnerabilities can appear in just about any area – software, hardware, organizational practices, and more.
Assets
The term ‘insider risk management’ focuses on protecting assets not simply detecting malicious actors. However, it’s important to recognize that the whole point of your program is to protect your assets from compromise. It seems obvious, but many organizations overlook this simple point because of the focus on catching potential insiders. A more holistic approach to risk management takes a closer look at the various assets within the organization, identifies and names them, and applies appropriate control measures designed to protect them.
Contact ITMG to Develop Strategies and Protocols Designed to Help Your Company Mitigate Your Insider Risk
ITMG is an industry leader in helping organizations throughout the United States strengthen their insider risk management programs and secure sensitive data and intellectual property. Our team of bona fide experts has the real-world experience necessary to plan out and create holistic security solutions tailored to the special needs and risks in your industry. Contact ITMG today to learn more about how we can help! You can also visit our Facebook, Twitter, and LinkedIn pages for more updates and insights into the world of insider risk management.