What Is A Risk Management Team?

Is your business protected? This is a wide-sweeping question, but it can cover:

  1. Is it protected from a cyberattack
  2. Is it protected from natural disasters
  3. Is it protected from the human factor?

If you don’t know the answers to these questions or if they are keeping you awake at night – especially the human factor – you need to contact Seth Melendez, President of WareGeeks Solutions and ask for a data risk and data security audit. This will let you know where you need to put protocols in place and where you need to have accountability to ensure your protocols are adhered to. In case you missed it, there was a breach of a NYC agency simply because multi-factor authentication protocols weren’t adhered to and no one was accountable to ensure the mandates were put in place.

What Is A Risk Management Team?

The risk management team you build within your company is an independent and typically separate entity within the organization and is spearheaded by a chief risk management officer. This team:

What Is A Risk Management Team?
  1. Applies risk management strategies to protect the company, its assets and data
  2. Develops strategies to mitigate risks
  3. Determines what the risks are
  4. Researches insurance policies to address potential threats (a cybersecurity insurance policy may be one of those mitigating policies)

Your risk management team will develop and oversee the project and:

  1. Identify and envision any potential threats and implement an activity to mitigate those threats. The threats could be internal or external.
  2. Prioritize the steps required if the organization is threatened by one of the identified threats. The team will look at threats in the past, how they were handled and put strategies in place to enhance or improve the prior threat mitigation.
  3. The team will provide management with the costs for the strategy implementation and mitigation. This may involve an IT cybersecurity audit and the purchase of a cybersecurity insurance policy.
  4. A strategy will be put in place and individuals will be named as points of contact. This strategy also pinpoints when and where the threat is deemed a high priority that requires immediate action. For example, if a threat is found – when does the point of contact sound the alarm?
  5. The risk management team needs to test its plan to ensure it will work in a real-world situation. The team will require input, feedback and buy-in from the management team within the organization to ensure the steps are followed and that there is accountability.

Do you have a risk management team in place? If not, who is responsible for sounding the alarm if there is a potential cybersecurity attack? If you aren’t sure or if you don’t have a business continuity and disaster recovery plan in place, reach out to us today. Don’t be reactive and try to stumble through a disaster – chances are your business may not survive it or be able to afford it.

If you have questions on password security, schedule a consultation with one of our technology and business continuity experts.

WareGeeks Solutions is a Roselle, New Jersey-based full-service IT solutions and service provider of cybersecurity, managed IT services and data backups protection and our expert team specializes in Data Protection, specifically Business Continuity and Disaster Recovery (BCDR and we work with medium and large companies, with a focus on law firms and the healthcare industry.

WareGeeks Solutions help organizations transform technology, operations, and service delivery to meet business challenges. We first seek to understand your business needs and then apply our in-depth knowledge of Data Protection, Business Continuity and Disaster Recovery (BCDR), Cyber Security for drafting a roadmap for transformation.

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