There is an increasing need of providing security in any organization’s technological environment and therefore crafting a security management framework is an essential need that facilitates the integrity of data, accuracy and ensures that data reaches the expected people within the allocated time frame (Brown et al., 2015). They are various architectures that have been developed earlier on and have different architectural design and framework. Every organization is expected to design its risk management strategy according to the factors revolving around it.

Information is vital in any running organization, therefore, contributing to the development of security management protocols to cate for the authenticity and originality of information (Knowles et al.., 2015). The main aim of this research is to assess information security in a broader perspective, assess information security risks as well as the means of mitigating such risks. In other words, this research will discuss various applicable models that can be utilized by any organization to maintain security across multiple business premises.

Introduction

Information security is a set of procedures or techniques that are used to maintain the integrity of data within any organization. Information security entails various criteria’s that are used to asses the vulnerability of any system such activities are: vulnerability assessment which is the study and examination of weaknesses that may present a threat and form an opening to external and internal threats (Brown et al., 2015). Such kind of a strategy can be used to consider measures and precautions that can be necessitated to avoid data breaches (Trim & Lee, 2016).

However, it is displeasing that organizations commonly underestimate the need to of vulnerability assessments and use of intruder detection systems (Cherdantseva et al..,2016). By using these tools, an organization can benefit from having weak systems that are not prone to cyber-attacks thereby promoting security.An information security risk management framework involves a series of procedures and guidelines that usually define the implementation of strategies that are used to combat risks exposed to security leaks in an organization or company as well. These techniques are used to form the foundation of developing an information risk management framework.

According to International standards organizations, security risk management is divided into three categories which are: Information technology Risk Assessment, Information Security Risk Monitoring and Information security Risk Communication. The modern society demands a faster-integrated system that will facilitate communication and delivery of data quickly and conveniently (Knowles et al.., 2015). Technological advancements are therefore essential in contributing to these, but a well-designed Security management framework should be present to cater to the needs of this generation.

Technological security evaluation is another fundamental necessity that is used to scrutinize the security of an individual’s products as well as the entire system or infrastructure that is used. Risk management can, therefore, be defined as the process of identifying, assessing, implementing and monitoring risks of specific software or system in general (Trim & Lee, 2016). Managing the information of a company includes using a set of policies concerned with encapsulating sensitive data so that it remains secure. It consists of a set of policies that manage the security of the people, the system used and the processes involved in running a network.

Justification

Information management is a crucial issue in any business premises. Technological advancements have not only ensured that data is transferred accurately and fast but also has connected people throughout the world through communication and other various technological advancements. This research is to assess information security managementfrom a broader perspective, assess information security risks as well as the means of mitigating such risks. In other words, this research will discuss various applicable models that can be utilized by any organization to maintain security across multiple business premises.

Cyber Risk Assessment

Cyber risk assessment is defined as the sequences of procedures and steps followed in assessing the cyber risks that are focused on organizations and other business enterprises. Risk assessments are used to identify organizational operations as well as estimating and providing solutions that help an organization protect sensitive information (Trim & Lee, 2016). The main reason behind Cyber risk assessment is to help organizations to make informed decisions so that they may not subject such a company to threats of potential intruders who will aim at paralyzing the business activities for malicious reasons.

Fig 1.1 Is a representation of a cyber risk assessment program.

The best way to develop a Risk assessment program is by first identifying the relevant threats to that organization secondly you need to determine both the internal and external vulnerabilities that result to a system failure or any previous reports that would have stipulated otherwise. Thirdly, you need to assess the implications that would come after the exposure of that vulnerability, and in this case, you need to put into consideration both parties that will be affected that is the administrators, clients and the users or clients (Knowles et al.., 2015). The final step is to identify the cause of exploitation or the most vulnerable aspect of the system.

Why we need a cyber Risk Assessment

A cyber risk assessment is essential and needs to be performed regularly to attain Integrity and precise information as well as products. It is not necessarily that Cyber threats tend to attack intelligence but may also alter the production of goods as long as such an industry has some technological foundation. Some malicious people access the databases of these industries and try to falsify accounts so that they can incur to the firm (Trim & Lee, 2016).  With a Risk Assessment program, firms can resolve such risks and a few other reasons which are discussed below.

Cyber Risk Assessments help to reduce long term costs by identifying any threats that can result and providing means to resolve such threats (Brown et al., 2015). Mitigating potential risks is a one step to achieving the goals of an organization in addition to that, this also saves an organization from spending a lot of money and other resources that would have otherwise been concentrated towards production and yielding the company profits.

The main aim of having a Cyber risk assessment program is to avoid breaches and other security issues which are brought about by unlawful means of gaining access to information that is not meant to be revealed to unauthorized people (Cherdantseva et al..,2016). This can quickly be resolved by authorizing the right personnel to handle data as well as using firewalls to prevent hackers from gaining access to services that they aren’t permitted to.

It provides a ground for future assessments since cyber risks are concurrently taking place every moment when we use our computing networks and devices (Knowles et al.., 2015). Therefore, it is essential to regularly update on risk assessments techniques in an organization which will limit the chances of any organization from collapsing or even exposure of relevant sensitive data to the public.

In addition to preventing security breaches, it also provides a sense of self-awareness to an organization and this helps both the upper and lower level managers in conjunction with the employees to know the weaknesses of their organization so that they can develop ways to improve on their weak areas and thrive towards achieving organizational goals (Brown et al., 2015).

Communication is yet another issue of great concern in the modern technologically advanced world. A cyber risk assessment focuses on improving communication channels used by an enterprise (Peltier, 2016). For any process, there’s always an input that is either fed into a computer or inputted by a various device such as scanners which are later processed and retrieved as information. In a business setting, inputs are obtained from various departments, by using an assessment program, this will enhance the visibility of data processed into information which will otherwise contribute to effective communication.

IT governance in Managing cyber risks

It governance aids at improving the development of an information security risk management strategy which will put an organization in a position to minimize exposure to cyber threats (Peltier, 2016). Information is a critical asset that is considered most when developing this strategy since the organization relies on information which is a part of the organization. Some of the governing IT services include guidance and seeking of advice on suitable techniques that will manage exposure to risks. Some of the services offered are described here:

An IT governance will assist in determining the type of risks be it internal or external as well as providing a means or choice of managing that risk. Internal threats can be accomplished by using access control criteria which will prevent unauthorized personnel from accessing information that they are not intended to receive (Brown et al., 2015). External controls are aimed at preventing the leaking of information from various departments, and this can be avoided by using authorizing the right people to access information.

In addition to that, IT governance will aid in the establishment of communication between the stakeholders of an organization by providing results and solutions to the consequences of the identified risk and the level at which the risks expose the company to threats. It is essential to assess risks regarding how risky they are and the potential of their occurrence in any business setting.

Another critical issue that results from the governance of IT is the establishment to help leaders, especially in decision making so that they can prioritize their risks and decide which risk to treat first in regard of the other risks discovered. Some chances are so hazardous and may result inthe failure of a system a good example being a Denial of Service Attack which is focused in disabling the entire networking links of communication (Peltier, 2016).

Risk monitoring helps to reduce the chances of risks occurring in a recurring manner. Risk monitoring ensures that all the discovered risk is carefully treated in a way that the likelihood of such a risk happening again will be minimal. This is becausechances are thoroughly assessed before acting on the solutions of that risk.

The most effective way that IT governance has aided in limiting cyber threats in an organization is through educating various stakeholders and the staff in general about the risks an organization may face and provides means of mitigating those risks so that chances of those risks occurring again will be minimal.

Importance of IT Governance

It Governance have specialists who are involved in the provision of the best action plans as well as offering consultancy services which will help in assessing the level of risks and management of risks in conjunction with the provision of relevant solutions to those problems (Cherdantseva et al..,2016). The main aim or goal of this IT solution is to promote Cybersecurity, increase online business activities, protect data as well as to inform the society of the benefits of having a cyber-security assessment program.

In a highly technologically advanced world, IT governance is focused on improving the privacy of a business or firm by assisting industry to protect themselves and their clients from exposure to cyber threats which are rampantly increasing at an alarming rate. This kind of It solution will help customers as well as business administrators to improve their defense tactics when using the Internet thereby increasing convenience and proper decision-making mechanism which will also assist a business to develop (Knowles et al.., 2015).

Cyber Threats and solutions

Internet security has continued to be a significant threat in the computing environment for a very long time. In recent research, over 140 million users have been subject to cyber-attacks. Cyber crimes are rampant will continue to grow with growth in technological advancements, and it is thereby essential to develop strategies to combat such threats (Trim & Lee, 2016). Criminals are now targeting to steal sensitive information such as financial details which they can sell on the Digital Black Market.

One of the main strategies used to access restricted data is by using computer viruses which consist of written codes which run algorithms to corrupt user data and find any access points to which users’ data will be exposed (Knowles et al.., 2015). A computer virus can be acquired through downloading of data from an unprotected site as well as sharing of files through Universal Serial Bus (U.S.B) among many other methods. A file transfer is enough to expose yourself from acquiring computer viruses.

Installing an Anti-Virus software will help to protect computer users from exposure to virus attacks (Trim & Lee, 2016). All servers in a network should be protected by an Antivirus software which has an inbuilt firewall that will control and monitor data traffics for all computer users who remotely have access to computers. Updating an antivirus software is necessary since new computer viruses are typically released and updating your antivirus will minimize exposure to a virus attack.

Using a firewall is necessary to all computer users who will monitor data traffics as information is sent in the form of packets over the network. The firewall does not necessarily prevent an attack from Viruses but also avoid Denial of Service attacks which can bring down the entire networking infrastructure of a business or organization (Trim & Lee, 2016).

In offices or companies, all emails should be filtered to detect computer malware. Malware and spyware are sent over the file sharing which is supported by emails. Antivirus software should scan attached documents. Filtering software should be provided in every network to prevent these viruses from accessing computers.

One of the most effective ways to curb cyber threats is by educating users on the importance of data integrity and providing them with a solution of how users can protect their devices from exposure to cyber threats (Peltier, 2016). Users should be informed of various measures that they can put into consideration when using the internet such precautions are: clearing personal data after accessing it from any browser, avoiding downloading of information from unprotected and unmonitored websites, scanning internet downloads and making regular backups. Such activities are necessary and help to reduce the occurrence of cyber threats.

Regular monitoring of system logs and network logs is necessary forthe identification of vulnerabilities in any working system or computer. Unusual data traffic or various attempts to log on a system can indicate that a system is vulnerable and easy to penetrate and violate user information as well as breaking computer ethics. It is essential to check logs of other devices to ensure that the entire network infrastructure remains prone to attacks.

Another essential protocol is to restrict end users from accessing into systems. If it is possible, end users should not have the administrative rights of obtaining any administrative data primarily in a business setting (Knowles et al.., 2015). Employees have not only good intentions for accessing sensitive data but also have malicious intents of corrupting the integrity of data of an organization. Some users may want to run a business, and by accessing administrative content, they can achieve their dubious desires.

It’s important to have regular backups utilities by regularly making copies of important files and storing them on storage devices such as portable hard disks or removable media devices (Cherdantseva et al..,2016). This will ensure that critical data is always available whenever it is needed even if there was a data breach. Backups also assist in restoring software and systems that had been previously lost or were unavailable when a disaster had occurred.

Future of Cyber Security

In the 20th century, Cybersecurity was engulfed within the company’s environment and was not considered as a potential threat to Human-Computer Interaction (Brown et al., 2015). In our present economy, cybersecurity is a leading Global multi-dollar industry that has invested a lot in promoting the security of its clients and has assisted in improving the welfare of the people’s digital needs (Brown et al., 2015). Internet access is yet another infrastructure that is continually booming even to the marginalized areas in a country.

Advanced artificial intelligence is expected to bring a steadfast and a quicker defense mechanism against cyber-attacks. There is a likelihood that there will be sophisticated cyber attacks and will require little or no human intervention at all giving rise to a new era of artificial intelligence (Trim & Lee, 2016). About this, it is expected that programmers will also develop sophisticated software utilities such as Antivirus programs and firewalls that will run algorithms faster and more precise in a way that human interactions will be minimal at this phase.

Cybercriminals will create various anonymous automated attacks at the same time will operate them independently and be capable of making decisions on their own (Cherdantseva et al..,2016). Deployment of Artificial intelligence will not only help to combat cyber-attacks but also fuel a whole new level of attacks based on this technology.

Employers, on the other hand, will consider employing people who have adequate IT skills. Organizations are not just looking for computer literate people but experts in this field. There is a need to be skilled and be in a position to present technical problems and frame them with possible IT solutions. Businesses are looking for qualified people who can offer solutions in a technological way (Peltier, 2016).

It is expected that malware and ransomware will evolve and pose more threats than the used to. Such Malware will focus on targeting valuable people and information, and this will raise even more hostile risks such as damaging industries and the well-being of prominent personnel.

Conclusion

Cybersecurity will continue to be a threat as new technological advancements are being incorporated so are the exposures to cyber threats (Trim & Lee, 2016). There is an ongoing cyber war whereby one party is affected, and the other party is the one that poses this threat. It is essential to learn how to mitigate such risks in a technological environment, and some of the precautions are described above in this research and they are; ensuring that there is provision of backup facilities, use of antivirus software’s, restricting end users from gaining access to administrative data, checking logs frequently and educating users on how they can safely use the internet without exposure to these threats as well as provision of mitigatingfactors.

Human beings are at the middle of technology and in a way, technology defines who we are in modern society (Cherdantseva et al..,2016). No technological advancements can reach a point of having control over people; it is up to us to offer solutions that will improve our digital life. Such solutions are like the development of a Cyber risk assessment program which is aimed at enhancing the integrity and accuracy of data in an organization.

References

Knowles, W., Prince, D., Hutchison, D., Disso, J. F. P., & Jones, K. (2015). A survey of cyber security management in industrial control systems. International journal of critical infrastructure protection, 9, 52-80.

Brown, S., Gommers, J., & Serrano, O. (2015, October). From cybersecurity information sharing to threat management. In Proceedings of the 2nd ACM workshop on information sharing and collaborative security (pp. 43-49). ACM.

Cherdantseva, Y., Burnap, P., Blyth, A., Eden, P., Jones, K., Soulsby, H., & Stoddart, K. (2016). A review of cybersecurity risk assessment methods for SCADA systems. Computers & security, 56, 1-27.

Trim, P., & Lee, Y. I. (2016). Cybersecurity management: a governance, risk and compliance framework. Routledge.

Peltier, T. R. (2016). Information Security Policies, Procedures, and Standards: guidelines for effective information security management. Auerbach Publications.