RiskLens Unveils a New Triage Function for Rapid Risk Quantification

As a cyber risk professional, whether you are a CISO, a technology risk officer or a risk analyst, you are dealing with a constant barrage of security issues to analyze. These scenarios present themselves in the form of audit findings, security incidents, policy exceptions, board concerns, new security threats emerging from an ever evolving threat landscape, and overall changes in business strategy.

To effectively understand the severity of these issues and direct appropriate response, you need to quickly understand if there is any risk associated with them and size it, so you can compare it to the organization’s top risks and risk appetite levels and decide if it requires further action or not.

This is an impossible task if is not clear whether a particular issue actually represents an actual risk and if the organization is relying on inherently flawed qualitative risk measures, where red-yellow-green or high-medium-low categorizations of risks provide no true insight into the financial impact the organization might suffer.

RiskLens, the pioneer in cyber risk quantification and technical advisor to the FAIR Institute, worked with many organizations to come up with a solution to this challenge and now offers a whole new Triage function as part of its cyber risk management platform. RiskLens’ Triage helps risk professionals analyze security issues in a systematic way according to the FAIR standard, quickly assess the associated risks in financial terms, and determine where they rank in order of impact onto the business.

Introducing Triage – The Scalable Solution to Risk Analysis Overload

The reality is not all security concerns need the same depth of risk analysis, nor can risk analysts afford to dive deep into everything that comes across their desk. To determine whether an issue requires deep dive analysis, risk analysts need a solution that enables them to rapidly assess risk and determine if the risk is material to the organization. And, of course, this solution needs to scale to enterprise demands.

To meet this need, RiskLens unveils a new method for quantifying risk in the RiskLens Platform called Triage. Purpose-built on FAIR and aligned with the ISO 31000 risk management process, this new capability allows risk analysts to:  

  • Ingest ad-hoc inputs such as audit findings, security policy exceptions, community threat alerts, zero-day disclosures in RiskLens for rapid analysis
  • Quickly define, document and utilize the potential loss events related to these inputs
  • Run a quantitative risk analysis of these potential loss events in 15 minutes or less and determine the probable financial loss exposure
  • Compare this analysis against top risks or risk appetite to determine where it fits in order of business impact
  • Dive deeper into a more detailed risk analysis and leverage all the data collected so far or move on to other more pressing issues based on this determination

Here’s where Triage fits into the risk assessment process:

 

Triage provides the same Monte Carlo driven results as other analyses in RiskLens, showing risk as a range of probable loss exposure in financial terms, which allows the analyst to determine the materiality of the risk to the organization.

A RiskLens Loss Exposure Report:

A RiskLens Top Risks Report:


Read more about the new Platform: RiskLens Enables Quantitative Cyber Risk Programs with the Industry’s Most Comprehensive Cyber Risk Management Platform


We’re very excited for the potential that the new Triage function unlocks for risk-based decision making. Quantifying cyber risk delivers immediate and course changing value for organizations of all types across the public and private sectors. Being able to manage cyber risk based on financial impact, as opposed to using qualitative measurements which don’t provide this visibility, finally aligns security to the needs of the business and provides a decision support capability that will advance the overall effectiveness of the security program.

RiskLens is a comprehensive cyber risk management platform which automates and simplifies the adoption of FAIR model, becomes a complete enterprise system of record for cyber risk, and enables real-time feeds/analysis of cybersecurity data for agile and rapid decision support. With the new Triage function in RiskLens, the Platform also becomes the secret weapon in dealing with risk analysis overload.

Sign up today for a demo to see how the new Triage function in RiskLens can help you rapidly assess cyber risk.

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