What is Cybersecurity Risk Management?

Cybersecurity risk management is the process of enumerating the cyber-borne threats to an organization. Cybersecurity risk managers evaluate and analyze all risks to their organization from the cyber perspective, and then build out processes and procedures to minimize the risk to the business.

Organizations tend to hire managed security service providers or cybersecurity consultants to conduct cyber risk assessments. These risk assessments pinpoint threats to the organization and provide guidance, often in the form of a risk management strategy or plan, on how to minimize exposure or eliminate risks. Plans include policies, processes, and procedures on how to address different risks, what corrective actions to take and when, and what defenses must be put in place to secure the business.