Glossary definition: Cyber Risk Management Frameworks

Cyber Risk Management: A Framework for Success

Cyber Risk Management Frameworks are comprehensive sets of policies, processes, and procedures that organizations use to identify, assess, monitor, and mitigate risks associated with their digital assets and operations. These frameworks provide a structured approach to managing cyber risks, including understanding the potential threats, vulnerabilities, and impacts of a cyber incident, and developing strategies to prevent, detect, respond to, and recover from such incidents. Cyber Risk Management Frameworks typically include risk identification and assessment, risk mitigation, security controls and monitoring, incident response, and incident recovery. They also often include guidance on data privacy, legal and regulatory compliance, and other risk-related topics.