Sharpen your skills in quantifying cyber and technology risk, generating data-driven reports with actionable insights, and communicating risk using business metrics. Our expertly designed CRQ training courses, based on the FAIR standard and methodology, provide a solid foundation on which to build your risk management skills and knowledge, helping you navigate the challenges of interpreting complex data and communicating with decision makers.
C-Risk's range of CRQ solutions inform strategic and tactical decisions in a metric-driven, defendable, and repeatable manner. Our risk assessment solutions provide the keys to understanding and communicating cyber and technology risk in business terms using monetary values. We use the FAIR standard and methodology to create data-driven reports and insights, so that critical stakeholders can understand their financial exposure and which controls should be implemented to best manage the risk scenarios. Recommendations are, of course, in line with the organization’s risk appetite and tolerance levels.
The changing regulatory environment for cybersecurity reporting and disclosure requirements, such as the SEC rules and articles 5 and 6 of DORA, has highlighted the advantages of implementing a cyber risk quantification approach. Risk-based assessments provide organizations with the quantified information they need to quickly disclose material risk for cybersecurity incidents and communicate with decision-makers in business terms.
The importance of Cyber Risk Quantification as a cyber and technology risk management approach is growing with new regulatory compliance requirements. The Open FAIR™ standard is the only internationally recognized open standard taxonomy and quantitative risk analysis model for cybersecurity and operational risk that helps cybersecurity, risk management and business executives measure, manage and communicate risk from a business perspective, in financial terms.
Your organization’s cybersecurity governance, business processes and communication will improve with risk-based and data-driven analysis techniques. For this reason, C-Risk has developed two comprehensive CRQ training courses for risk professionals. You can gain deeper understand or the methodology or become a FAIR practitioner and learn to scope risk scenarios, collect data and analyze your results.
By quantifying the potential impact and likelihood of cyber threats, resources can be effectively allocated to areas with the highest potential impact.
Estimate the frequency and magnitude of identified risk scenarios for your critical digital assets using industry data and data collected within your organization combined with the C-Risk Knowledge Library of quantifiable risk scenarios with CRQ.
CRQ facilitates informed decisions at all levels of cyber risk management and governance. Access the skills and tools to identify risks, manage vulnerabilities, and strengthen cybersecurity defenses.
Dive deep into the practice of quantifying cyber and technology risk in financial terms with the open and transparent FAIR framework. Learn the FAIR standard and methodology for accurate risk assessments and build cyber resilience.
Cyber risk quantification using the FAIR method provides a clear, data-driven framework for translating cyber threats into actionable business insights.
The digitalization of our world continues to accelerate and the majority of business activities depend on information technology. Every year, millions of euros are spent to improve cybersecurity. However, the correlation between investment, risk reduction and effectiveness of control solutions is limited when the frequency or financial impact of a cyber incident is unclear.
Our risk assessment solutions, such as CRQaaS, CRQ Enablement and our CRQ Consulting and Advisory Services, provide the key to understand and communicate cyber risk in business terms. Cyber Risk Quantification (CRQ) improves decision-making with data-driven insights and leads to increased cyber resilience by looking at your risk appetite when recommending new controls.
The Open FAIR™ Standard (Factor Analysis of Information Risk) is the industry standard quantitative model for information security and operational risk, which has been recommended as best practice by organizations such as NIST, ISACA, and CIS. Our FAIR-certified experts work with open standards and frameworks that are transparent and can be accessed by anyone. This allows for better comparisons.
CRQ is a risk-based method that provides the board with risk-based recommendations to improve cybersecurity governance and facilitates identifying material risk. It also enables more timely disclosures of material risk to regulators, like the SEC in the US or IDW PS 340 in Germany, and improved compliance with new DORA regulations in the EU.
Define the nature and estimate the amount of loss you could be confronted with in risk scenarios. As a result, data-driven reports and insights can drive investment decisions or negotiations on cyber insurance coverage.
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It is important to start with a solid foundation in cybersecurity, with an understanding of threats, vulnerabilities, and defenses. This is then paired with a quantitative analysis method that uses the FAIR standard and taxonomy, which involves scoping risk scenarios using statistical and probabilistic methods to estimate the likelihood and impact of potential cyber incidents. Also integral to this process is a solid understanding of the various risk management frameworks.
According to the FAIR™ taxonomy Loss Event Frequency (LEF) is "the probable frequency, within a given timeframe, that a threat action will result in loss" and Loss Magnitude (LM) is "the probable magnitude of primary and secondary loss resulting from an event".
It is recommended that CRQ be performed regularly for useful trend reports and can be used to and especially when you are looking to implement new technologies, when there is an organizational change, with changes to regulatory compliance and also following a cyber incident.
C-Risk is a recognized expert in Cyber Risk Quantification using the FAIR™ methodology. We provide CRQ consulting services, managed services, and training.
