Risk Management for IT and Cybersecurity Managers
Title of the Activity: Risk Management for IT and Cybersecurity Managers
Term of the Activity: Spring 2023
Name of Sponsoring Organization: LinkedIn Learning, Dion Training Solutions
What I learned: I have gained a better understanding of the significance of Risk Management in IT and Cybersecurity. A risk refers to the likelihood of a threat exploiting a vulnerability, and it is the responsibility of risk managers to evaluate these risks, vulnerabilities, and threats to determine whether the organization should mitigate, transfer, avoid, or accept the risk. There are various risk controls that a company can employ, including Technical and Operational Controls, to enforce confidentiality, integrity, and advanced security measures. Technical Controls involve implementing firewalls, IDS, IPS, antivirus, and endpoint security, while Operational Controls consist of ethical hacking or penetration tests, and standard operating procedures (SOP). Accurate calculation and measurement of each risk response is crucial, as there is always a possibility that the decision made by risk managers is incorrect and damaging. Any mistakes could severely impact the company’s reputation, credibility, profits, and customer loyalty, ultimately costing millions of dollars to repair damages.
How the Activity relates to my coursework/career goals: Risk Management plays a crucial role in every industry and company, and can significantly impact the success or failure of a business. Even after carefully calculating and assessing risks, risk control decisions can sometimes do more harm than good if they’re not corrected swiftly. As someone who is interested in entering the field of Risk Management, I must possess a keen attention to detail, extensive knowledge, logical thinking skills, persistence, and assertiveness to ensure that the best possible decisions are made.