GRC is an acronym that stands for Governance, Risk, and Compliance. This term was coined by OCEG (Open Compliance and Ethics Group) and refers to an organization’s strategy for managing governance, risk, and compliance requirements. GRC plays a vital role in managing an organization’s processes, contributing significantly to its resiliency and operational efficiency.
Risk Management Articles (7)
People often use the terms “business continuity” and “disaster recovery” interchangeably. This should not be so business continuity ensures that operations continue if a disaster occurs, while disaster recovery ensures that data access and IT infrastructure are restored following a disaster. When a company is hit by a natural disaster, disaster recovery keeps business continuity, speeds up the recovery process, and decreases damage.
Every day, an organization’s assets are exposed to a variety of security threats. These threats can damage the assets by exploiting vulnerabilities present in them. The probability of these threats exploiting the assets’ weaknesses and the resulting impact is referred to as risk. Security controls are employed to mitigate this risk. There are various types of security controls, each of which serves a distinct purpose. The article aims to explain what security controls are, their various types, and what functions they provide. It also discusses how these controls can be combined to provide the organization with defense-in-depth protection for its assets.
Disaster recovery preserves business continuity and expedites the recovery process when a firm is hit by a natural catastrophe thereby reducing loss. The purpose of disaster recovery is to limit the effect of the incident on the company while maintaining customer service standards.
Many businesses rely on data as a driving factor. Data is collected, processed, and stored by businesses for a variety of reasons. This data is typically sensitive, such as credit card numbers, social security numbers, driving license information, and so on. This information should be kept safe from unauthorized disclosure, modification, or theft at all times. Moreover, companies are under regulatory obligation to implement essential security controls to protect the gathered data. This article explains what is data classification and how it helps an organization maintain the security of its data.
When you make a cup of coffee, you are aware that it has some sort of risks, such as dropping boiling water or being shocked by the kettle’s steel body, burning your tongue. However, you take precautions to reduce those risks, such as controlling the current in the outlets, and not taking a sip before it is warm. You then balance the risks and decide that the benefits exceed the risks.
Information security risk assessment aids an organization’s ability to deal with security concerns effectively and efficiently. This helps organizations in examining their security architecture to identify the threats to their most valuable assets. The results of these assessments assist executives in making educated decisions about the organization’s security and improving the security posture of the organization.