Identify potential threats before they become an issue.
Risk assessments are designed to provide a clear indication of those organizational information assets that are at risk for a security breach. This allows for the informed, intelligent application of cybersecurity resources that are appropriate to secure those assets. The National Institute of Standards and Technology (NIST) framework — which was created through collaboration between industry and government — consists of standards, guidelines, and practices to promote the protection of critical infrastructure. The NIST cybersecurity framework states that the goal of a risk assessment is for an organization to understand the cybersecurity risk to organizational assets, individuals and organizational operations, including mission, functions, image, or reputation.
A risk assessment will identify information assets that could be affected by a cyber-attack, such as hardware, systems, laptops, customer data and intellectual property, and then report the various risks that could affect those assets. Third parties, suppliers, contractors and a mobile connected workforce also fall within the scope of a risk assessment.
The Six Steps to Conduct a Risk Assessment
The National Institute of Standards and Technology (NIST) created the NIST Cybersecurity Framework Risk Assessment category that outlines the following steps:
- Asset vulnerabilities are identified and documented.
- Threat and vulnerability information is received from informed sources.
- Threats, both internal and external, are identified and documented.
- Potential business impacts and likelihoods are identified.
- Threats, vulnerabilities, likelihoods, and impacts are used to determine risk.
- Risk responses are identified and prioritized.
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360 Advanced showed great professionalism as it relates to getting acquainted with a very unique industry like ours, the school transportation industry. We know that’s not easy and we appreciate all the extra effort that was put into learning about us and our industry. We’re extremely pleased with the service.
The one thing that sticks out more than anything else is the audit readiness they provide before the audit process starts. I appreciated the coaching and mentoring we received so we were well prepared for the audit. 360 Advanced always answer their phones, whether for quick issues or questions. And, they are not nickel and diming us – we paid one fee and they are still assisting us post audit.
Vice President and Chief Information Officer
R.C. Giltner Services, Inc.
I think the strength of SSA16 accreditation compliance has been such an advantage for us, allowing us to improve our processes, provide oversight and have our customers see the difference. The SOC examination has exceeded our wildest dreams. We are communicating this as part of our sales process and now it’s a requirement in nearly all the RFPs. We’ve won every single bid we submitted on since we received compliance. We think that is the key differentiator.
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