Glossary

Cyber risk management constitutes a multifaceted approach adopted by IT professionals to proactively identify, assess, and mitigate cybersecurity threats and vulnerabilities inherent in an organization’s digital infrastructure and operations. Central to this endeavor is the strategic prioritization of cybersecurity initiatives aimed at fortifying the organization’s resilience against evolving cyber threats and minimizing potential risks to its assets, operations, and stakeholders.

In addition to implementing robust technical controls and security measures, cyber risk management encompasses compliance with industry regulatory agencies and adherence to established cybersecurity frameworks and best practices to ensure regulatory compliance and uphold industry standards. Furthermore, effective cyber risk management entails fostering a culture of security awareness and vigilance across all departments within the organization, empowering employees to recognize and mitigate operational risks associated with online activities and digital transactions.

By fostering a collaborative and proactive approach to cyber risk management, organizations can enhance their ability to anticipate, detect, and respond to cybersecurity threats, thereby safeguarding their critical assets, preserving operational continuity, and maintaining stakeholder trust in an increasingly complex and dynamic digital landscape.