Cyber risk was considered an emerging risk a decade ago, but today it has grown into a liability that costs business nearly $450 billion a year. The increasing frequency, sophistication, and ever-changing nature of cyber intrusions and data breaches continually challenge organizations’ cyber mitigation and risk management teams.
Sophisticated cyber criminals put business-critical information, intellectual property, financial data, and personally identifiable information at risk. They can cause major business disruptions, public release of confidential information, reputational damage, and other negative financial and operational impacts.
Marsh Advisory's Cyber Risk Consulting Solutions address the essential elements of cybersecurity, from strategy, governance, and enterprise risk management to controls architecture, implementation, and management. Tailored to your specific business environment and requirements, our services, our issue and industry expertise, and our actionable insights help you make informed cybersecurity risk management decisions and improve your resilience in the face of ever-growing cyber threats.
Enterprise-wide Cybersecurity Program Review and Roadmapping
- Standards-based, client-specific assessment that helps drive strategy, risk management, investment, and risk-transfer decisions.
- Based on a proprietary synthesis of multiple standards for testing and validating security outcomes within the National Institute of Standards and Technology (NIST) Cybersecurity Framework.
- Measures the effectiveness of your controls through performance validation testing.
- Includes a joint roadmapping workshop to develop multi-year investment and program plans, using cyber value-at-risk modeling to analyze alternative security control investment strategies in terms of risk reduction potential.
Cybersecurity Risk Quantification
- Enables enterprise risk management through the quantification of your cybersecurity risk or exposure that provides the insight necessary to articulate your cyber risk appetite, make risk-informed investment decisions, and illuminate risk transfer needs and options.
- Leverages strategic and financial company information to model your cyber operating environment and generate a dashboard view of the cyber value-at-risk – the probability of breach, average and severe breach costs, and the top cybersecurity weaknesses.
- Based on data collected from an enterprise-wide cybersecurity program assessment and additional pertinent organizational information, such as enterprise and business unit revenue and business value of significant IT assets from the CISO and CIO point of view.
Security Technical Controls Review
- Methodical review of your cybersecurity technical controls environment.
- Assesses the enterprise cybersecurity architecture and technical controls for:
- How well the controls implement policy.
- How effectively they support the risk appetite.
- How effectively they meet compliance requirements.
- Applies technical tools to evaluate the operational effectiveness of security controls.
- Based on a repeatable and traceable methodology that draws on accepted security technical controls standards such as Center for Internet Security Critical Security Controls, NIST SP 800-53, Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry Data Security Standard (PCI DSS), and other sector-specific standards.
Third-Party Cybersecurity Risk Management Review
- Identifies third-party relationships, including suppliers, service providers, business partners, contractors, vendors, etc., and assesses the likelihood that they would experience a cyber event.
- Highlights areas of concentration where multiple suppliers share hosting providers, security vendors, vulnerabilities, or technology systems.
- Provides a systematic method of continuously monitoring the cyber risks imposed by authorized third parties and a protocol for managing them.
- Identifies high-risk suppliers whose cybersecurity vulnerabilities should be further assessed.
Scenario-Based Cyber Exercises
- Executive-level, facilitated tabletop exercises, typically focused on the enterprise response to a series of hypothetical cyber incidents that are realistic for your business.
- Tests assumptions, plans, and operational processes.
- Enhances your organization’s understanding and awareness of the intricacies of cyber incident management.
- Provides your executives and managers with experience that is directly transferrable to real-world events, increasing your enterprise’s cyber response preparedness.
- Validates external resources and points-of-contact and helps build external relationships that prove to be of value in a crisis.