Upon completion of this course, participants will be able to:

• Define and establish a formal Cybersecurity Risk Management (CRM) program.
• Utilize industry frameworks (e.g., NIST, ISO 27005) for systematic risk assessment.
• Identify critical business assets and link them to potential cyber threats and vulnerabilities.
• Develop, evaluate, and prioritize risk treatment options (accept, mitigate, transfer, avoid).
• Establish Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) for security controls.
• Translate complex technical risks into clear, financial, and business-impact terms.
• Design and execute a risk communication plan for all levels of the organization, including the Board.
• Manage the risk aspects of third-party vendors and supply chain security.

• IT Directors and Managers
• Chief Information Security Officers (CISOs) and Security Managers
• Risk and Compliance Officers
• Audit and Internal Control Professionals
• Business Unit Heads with IT oversight responsibilities
• Project Managers of security initiatives

• Group activities to perform a qualitative risk assessment on a business scenario.
• Case studies on the business impact of major cyberattacks and response.
• Workshops on developing Key Risk Indicators (KRIs) for a critical asset.
• Role-playing a presentation of the organizational risk posture to the Board.
• Individual exercises in drafting a risk acceptance document.

Unit 1: Foundations of Cybersecurity Risk

• Defining risk, threat, vulnerability, and asset in a cyber context.
• The lifecycle of Cybersecurity Risk Management (CRM).
• Differentiating between quantitative and qualitative risk analysis.
• The importance of business context in defining acceptable risk.

• Overview and comparison of NIST Cybersecurity Framework (CSF) and ISO 27001.
• Using the NIST Risk Management Framework (RMF).
• Mapping organizational controls to specific framework requirements.
• Integrating CRM with Enterprise Risk Management (ERM).

Unit 2: Risk Identification and Assessment

• Identifying the organization's critical information assets.
• Valuing assets based on business impact and sensitivity.
• Techniques for discovering and cataloging IT assets.
• Establishing asset ownership and stewardship.

• Identifying relevant threat actors and threat scenarios.
• Vulnerability scanning, penetration testing, and assessment methodologies.
• Calculating the likelihood and impact of various threats.
• Techniques for performing a structured risk assessment workshop.

Unit 3: Risk Treatment and Mitigation

• Evaluating the four risk treatment strategies: Mitigate, Accept, Transfer, Avoid.
• Cost-benefit analysis for security control implementation.
• Prioritizing mitigation activities based on risk score and business impact.
• Establishing a roadmap for high-priority risk reduction.

• Selecting appropriate technical and non-technical security controls.
• Implementing compensating controls for residual risks.
• Managing risk in the supply chain and third-party vendors.
• Ensuring controls are documented, repeatable, and measurable.

Unit 4: Monitoring, Metrics, and Governance

• Defining Key Risk Indicators (KRIs) to proactively monitor risk exposure.
• Establishing Key Performance Indicators (KPIs) for security control effectiveness.
• Continuous monitoring techniques for IT environment changes.
• Tools and dashboards for real-time risk reporting.

• Establishing a Security Steering Committee and its mandate.
• The role of internal and external audit in validating risk controls.
• Managing exceptions and risk acceptance documentation.
• Ensuring compliance with the organization's risk tolerance.

Unit 5: Executive Communication and Risk Culture

• Translating technical risks into clear, financial, and strategic language.
• Structuring an executive-level risk report (the 'risk dashboard').
• Techniques for justifying security budget based on risk reduction.
• Presenting security incidents in a risk context.

• The role of security awareness and training in risk mitigation.
• Developing security champions within the business units.
• Integrating risk considerations into all business and IT decisions.
• Measuring the organization's security culture maturity.