A Cyber Risk Management Software Company
RiskLens is a cyber risk management software company that specializes in the quantification of cybersecurity risk.
RiskLens is the only cyber risk management software purpose-built on FAIR, the only international standard Value at Risk (VaR) model for cybersecurity and operational risk.
What Is RiskLens' mission?
Our mission is to empower large enterprises and government organizations to manage cyber risk from the business perspective.
What Is Cyber Risk?
We define cyber risk as any risk associated with financial loss, disruption or damage to the reputation of an organization from failure, unauthorized or erroneous use of its computer systems. Examples of cyber risks to the business include cyber-crime, cyber-terrorism, accidental loss of confidential data, as well as liability for an organization's online activity.
What Is Value at Risk (VaR) Modeling?
Value at Risk modeling is a statistical methodology used to quantify the level of financial risk within a firm or investment portfolio over a specific time frame. Value at Risk is measured in three variables: the amount of potential loss, the probability of that amount of loss and the time frame.
Many of the world largest companies and organizations such as the World Economic Forum and the standards organization The Open Group are promoting the adoption of cyber VaR models. FAIR has emerged as the leading VaR model for cybersecurity and operational risk and as the only international standard.
Why Should Business Executives Care?
The time has come for business executives to tackle cyber risks as a business issue for the following reasons:
- The business is increasingly relying on digital processes
- Cyber threats are growing more complex and more impactful to the business
- Cyber risk has become both a board-level and customer-level concern
Business executives of the digital age are expected to incorporate the management of cyber risk as part of their business strategy and are being held accountable for it.
Why Quantify Cyber Risk?
The quantification of cyber risk allows organizations to:
- Understand their exposure to cyber risk from the business perspective,
- Utilize a common language that all stakeholders (board of directors, operations, IT) can understand,
- Provide a decision-making framework for prioritizing risk mitigations, optimizing security investments and cyber insurance.
Without an objective understanding and quantification of cyber risk, no cyber risk management program can be effective.
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