+Risk Assessment Update

Risk Assessment Update

Description

Mechanisms exist to routinely update risk assessments and react accordingly upon identifying new security vulnerabilities, including using outside sources for security vulnerability information.

Possible Solutions & Considerations

Micro-Small Business (<10 staff) / BLS Firm Size Classes 1-2

∙ Risk Management Program (RMP)

Small Business (10-49 staff) / BLS Firm Size Classes 3-4

∙ Risk Management Program (RMP)

Medium Business (50-249 staff) / BLS Firm Size Classes 5-6

∙ Risk Management Program (RMP)

Large Business (250-999 staff) / BLS Firm Size Classes 7-8

∙ Risk Management Program (RMP)

Enterprise (> 1,000 staff) / BLS Firm Size Class 9

∙ Risk Management Program (RMP)

SCR-CMM

Level 0 Not Performed

Practices are non-existent, based on the inability to demonstrate an implemented and operational capability. A reasonable person would conclude the control is not being performed.

Level 1 Performed Informally

Risk Management (RSK) domain capabilities are ad hoc and inconsistent. Capability criteria associated with this control may include:
▪ Policies, standards & procedures associated with RSK domain capabilities provide limited coverage due to the depth and breadth of the existing documentation.
▪ Risk management-related activities are decentralized (e.g., a localized/regionalized function) and uses non-standardized methods to implement secure, resilient and compliant practices.
▪ IT and/or cybersecurity personnel use an informal process to identify, assess, remediate and report on risk.
▪ Risk management processes (e.g., risk assessments) focus on protecting High Value Assets (HVAs), including environments where sensitive/regulated data is stored, transmitted and processed.
▪ Data/process owners are expected to self-manage risks associated with their Technology Assets, Applications, Services and/or Data (TAASD), based on the organization's published policies and standards, including the identification, remediation and reporting of risks.

Level 2 Planned Tracked

Risk Management (RSK) capabilities are requirements-driven, but are not standardized across the entity (e.g., local/regional level consistency). Capability criteria associated with this control reasonably expect the following criteria to exist:
▪ Policies and standards associated with RSK domain capabilities are formally documented and centrally-managed by the entity.
▪ Standardized Operating Procedures (SOP) associated with RSK domain capabilities are documented and maintained by process owners.
▪ IT and/or cybersecurity personnel work with business stakeholders and process owners to appropriately scope and reasonably implement cybersecurity and data protection controls associated with RSK domain capabilities to address applicable statutory, regulatory and/or contractual requirements for Technology Assets, Applications, Services and/or Data (TAASD).
▪ Risk management-related controls are primarily administrative and preventative in nature (e.g., policies, standards and procedures & guidelines).
▪ Risk management may be a defined function (e.g., team or department) or assigned as an additional duty to existing IT and/or cybersecurity personnel.
▪ Risk management processes (e.g., risk assessments) and technologies focus on protecting High Value Assets (HVAs), including environments where sensitive/regulated data is stored, transmitted and processed.
▪ IT and/or cybersecurity personnel implement and maintain a form of Risk Management Program (RMP) that provides operational guidance on how risk is identified, assessed, remediated and reported.
▪ Data/process owners are expected to self-manage risks associated with their systems, applications, services and data, based on the organization's published policies and standards, including the identification, remediation and reporting of risks.
▪ Business process owners (BPOs) are made aware of cybersecurity and data protection risk(s).

Level 3 Well Defined

Risk Management (RSK) capabilities are standardized across the entity for applicability to People, Processes, Technologies, Data and/or Facilities (PPTDF) to ensure consistency for Technology Assets, Applications, Services and/or Data (TAASD). Capability criteria associated with this control reasonably expect the following criteria to exist:
▪ Policies and standards associated with RSK domain capabilities are formally documented and centrally-managed by the entity's Governance, Risk & Compliance (GRC) team, or similar function.
▪ Standardized Operating Procedures (SOP) associated with RSK domain capabilities are well-documented and kept current by process owners.
▪ A risk management team, or similar function, is appropriately staffed and supported to implement and maintain RSK domain capabilities.
▪ Technology is leveraged to enhance the efficiency and accuracy of risk management operations (e.g., risk management solution, GRC platform and TPRM tool).
▪ The entity's Governance, Risk & Compliance (GRC) team, or similar function, works with business stakeholders and process owners to appropriately scope and reasonably implement cybersecurity and data protection controls associated with RSK domain capabilities to address Minimum Compliance Requirements (MCR) (e.g., applicable statutory, regulatory and/or contractual requirements) and Discretionary Security Requirements (DSR) (e.g., entity-required controls).
▪ An implemented and operational capability exists to routinely update risk assessments and react accordingly upon identifying new security vulnerabilities, including using outside sources for security vulnerability information.

Level 4 Quantitatively Controlled

Risk Management (RSK) capabilities, in addition to being standardized across the entity and centrally managed to ensure consistency across Technology Assets, Applications, Services and/or Data (TAASD), efforts are metrics driven to provide sufficient insight for decision makers to predict optimal performance, ensure continued operations and/or identify areas for improvement. Capability criteria associated with this control reasonably expect the following criteria to exist:
▪ Applicable SCR-CMM Level 3 (Well Defined) capabilities are implemented and operational.
▪ Metrics reporting includes quantitative analysis of Key Performance Indicators (KPIs).
▪ Metrics reporting includes quantitative analysis of Key Risk Indicators (KRIs).
▪ Scope of metrics, KPIs and KRIs covers organization-wide cybersecurity and data protection controls, including functions performed by third-parties.
▪ Organizational leadership maintains a formal process to objectively review and respond to metrics, KPIs and KRIs (e.g., monthly or quarterly review).
▪ Based on metrics analysis, process improvement recommendations are submitted for review and are handled in accordance with change control processes.
▪ Business and technical stakeholders are involved in reviewing and approving proposed changes to evolve capabilities.

Level 5 Continuously Improving

Utilize SCR-CMM Level 3 or Level 4 (if available) criteria definitions:
▪ There are no defined Level 5 criteria, since it is reasonable to assume a continuously-improving process is not necessary to operationalize this control.
▪ Level 5 capabilities should be considered “world-class” where the control builds on Level 4 capabilities, but are continuously improving through Artificial Intelligence (AI) and/or Machine Learning (ML) technologies.
▪ While it may be possible to develop responsive capabilities for this control through the use of AI and/or ML technologies, the criteria would be organization-specific to define.

1. Panoramica

1.1 Riferimenti

1.2 Requisiti identificati

1.3 Regolamentazioni correlate

2. Requisiti identificati

Requisiti

3. Regolamentazioni correlate

Regolamentazioni
EULAW Articolo 3 Gestione dei rischi informatici

Articolo 3

Gestione dei rischi informatici

Le entità finanziarie elaborano, documentano e attuano politiche e procedure per la gestione dei rischi informatici contenenti tutti gli elementi seguenti:

a) 

l’indicazione dell’approvazione del livello di tolleranza per i rischi informatici stabilito in conformità dell’articolo 6, paragrafo 8, lettera b), del regolamento (UE) 2022/2554;

b) 

una procedura e una metodologia per condurre la valutazione dei rischi informatici, che identifichino:

i) 

le vulnerabilità e le minacce che interessano o potrebbero interessare le funzioni commerciali supportate, i sistemi di TIC e le risorse TIC che supportano tali funzioni;

ii) 

gli indicatori quantitativi o qualitativi per misurare l’impatto e la probabilità delle vulnerabilità e delle minacce di cui al punto i);

c) 

la procedura per identificare, attuare e documentare le misure di trattamento dei rischi informatici per i rischi identificati e valutati, compresa la determinazione delle misure di trattamento dei rischi informatici necessarie per far rientrare il rischio informatico nel livello di tolleranza per i rischi di cui alla lettera a);

d) 

per i rischi informatici residui ancora presenti dopo l’attuazione delle misure di trattamento dei rischi informatici di cui alla lettera c):

i) 

disposizioni relative all’identificazione di tali rischi informatici residui;

ii) 

l’assegnazione di ruoli e responsabilità per quanto riguarda:

(1) 

l’accettazione dei rischi informatici residui che superano il livello di tolleranza per i rischi dell’entità finanziaria di cui alla lettera a);

(2) 

il processo di riesame di cui al punto iv) della presente lettera d);

iii) 

l’elaborazione di un inventario dei rischi informatici residui accettati, compresa la motivazione della loro accettazione;

iv) 

disposizioni relative al riesame, almeno una volta all’anno, dei rischi informatici residui accettati, che comprendano:

1) 

l’identificazione di eventuali cambiamenti nei rischi informatici residui;

2) 

la valutazione delle misure di attenuazione disponibili;

3) 

la valutazione della validità e dell’applicabilità, alla data del riesame, delle motivazioni che giustificano l’accettazione dei rischi informatici residui;

e) 

disposizioni sul monitoraggio:

i) 

di qualsiasi cambiamento nel panorama dei rischi informatici e delle minacce informatiche;

ii) 

di vulnerabilità e minacce interne ed esterne;

iii) 

del rischio informatico dell’entità finanziaria, che consentano di individuare tempestivamente i cambiamenti che potrebbero influire sul suo profilo di rischio informatico;

f) 

disposizioni relative a un processo per garantire che si tenga conto di eventuali modifiche alla strategia aziendale e alla strategia di resilienza operativa digitale dell’entità finanziaria.

Ai fini del primo comma, lettera c), la procedura di cui a tale lettera garantisce:

a) 

il monitoraggio dell’efficacia delle misure di trattamento dei rischi informatici attuate;

b) 

la valutazione del raggiungimento dei livelli di tolleranza per i rischi fissati dall’entità finanziaria;

c) 

la valutazione del fatto che l’entità finanziaria abbia intrapreso azioni per correggere o migliorare tali misure, ove necessario.

Ticket collegati

Collegamenti
is related to Annual
is related to relative Control Weighting = 09
is related to Process
is related to Govern
is related to SCRM Focus Tier 1 STRATEGIC
blocks Loss of Accountability / Attribution
blocks Regulatory / Legal / Contractual Financial Liability
blocks Unperformed / Unowned Control Responsibilities
blocks Uncontrolled Internal Security / Privacy Exposure
blocks Incident Response / Recovery Cost
is related to Identify
is related to SCRM Focus Tier 2 OPERATIONAL
blocks Contractual Default / Termination
blocks Exposure from Unaddressed Vulnerabilities
blocks Failure to Achieve Strategic / Mission Objectives
blocks Loss of Authorization / Certification / License
blocks Failure to Support Business / Mission Objectives
blocks Unaddressed Security / Compliance Exposure
blocks Uncontrolled Third-Party Security / Privacy Exposure
blocks Lack of oversight of internal controls
blocks Lack of oversight of third-party controls
blocks Inability to Demonstrate Due Diligence / Due Care
blocks Unreliable Assurance / Decision Information
blocks Third-Party Cybersecurity Compromise / Exposure
blocks Third-Party Physical Security Disruption / Exposure
blocks Sub-Tier / Fourth-Party Supply Chain Exposure
blocks Third-Party Legal / Compliance Exposure
blocks Drought & Water Shortage
blocks Earthquakes
blocks Fire & Wildfires
blocks Floods
blocks Hurricanes & Tropical Storms
blocks Landslides & Debris Flow
blocks Pandemic (Disease) Outbreaks
blocks Severe Weather
blocks Space Weather
blocks Thunderstorms & Lightning
blocks Tornadoes
blocks Tsunamis
blocks Volcanoes
blocks Winter Storms & Extreme Cold
blocks Malicious Cyber Activity
blocks Dysfunctional Management Practices
blocks Human Error
blocks Statutory / Regulatory / Contractual Change
blocks Data Quality Degradation / Data Poisoning
blocks Fraud, Corruption and/or Intentional Criminal Conduct
blocks Conflict of Interest (COI) / Undue Influence / Insider Misconduct
blocks Economic Shock / Market Disruption
blocks Foreign Ownership, Control, or Influence (FOCI)
blocks Geopolitical Conflict / Government Intervention
blocks Sanctions / Trade Restriction Disruption
blocks Supplier Financial Distress / Insolvency
blocks Workforce Shortage / Loss of Critical Skills / Labor Disruption
blocks OIS-08.06B
blocks OIS-09.06B
blocks OPS-31.03B
blocks SSO-02.02B
blocks Contractual Default / Termination
blocks Exposure from Unaddressed Vulnerabilities
blocks Failure to Achieve Strategic / Mission Objectives
blocks Loss of Authorization / Certification / License
blocks Failure to Support Business / Mission Objectives
blocks Unaddressed Security / Compliance Exposure
blocks Uncontrolled Third-Party Security / Privacy Exposure
blocks Lack of oversight of internal controls
blocks Lack of oversight of third-party controls
blocks Inability to Demonstrate Due Diligence / Due Care
blocks Unreliable Assurance / Decision Information
blocks Third-Party Cybersecurity Compromise / Exposure
blocks Third-Party Physical Security Disruption / Exposure
blocks Sub-Tier / Fourth-Party Supply Chain Exposure
blocks Third-Party Legal / Compliance Exposure
blocks Drought & Water Shortage
blocks Earthquakes
blocks Fire & Wildfires
blocks Floods
blocks Hurricanes & Tropical Storms
blocks Landslides & Debris Flow
blocks Pandemic (Disease) Outbreaks
blocks Severe Weather
blocks Space Weather
blocks Thunderstorms & Lightning
blocks Tornadoes
blocks Tsunamis
blocks Volcanoes
blocks Winter Storms & Extreme Cold
blocks Malicious Cyber Activity
blocks Dysfunctional Management Practices
blocks Human Error
blocks Statutory / Regulatory / Contractual Change
blocks Data Quality Degradation / Data Poisoning
blocks Fraud, Corruption and/or Intentional Criminal Conduct
blocks Conflict of Interest (COI) / Undue Influence / Insider Misconduct
blocks Economic Shock / Market Disruption
blocks Foreign Ownership, Control, or Influence (FOCI)
blocks Geopolitical Conflict / Government Intervention
blocks Sanctions / Trade Restriction Disruption
blocks Supplier Financial Distress / Insolvency
blocks Workforce Shortage / Loss of Critical Skills / Labor Disruption
blocks OIS-08.06B
blocks OIS-09.06B
blocks OPS-31.03B
blocks SSO-02.02B
is blocked by RSK-13.2 Risk Assessment Update – Assessment Procedure
blocks 03.11.01 Risk Assessment
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