Do you have visibility into the risks your business may be exposed to? Whether you think you do or not, conducting periodic risk assessments is essential for flagging potential threats. RSM’s risk assessment frameworks provide a consistent method to identify, prioritize and respond to risk. These evaluations present you with key insights into your current exposure and risk posture, allowing you to make informed business decisions.
What do risk assessments identify?
- Potential risks to assets that are critical to your business operations
- Likelihood and impact of threats that could target your organization
- Gaps in your current processes that create exploitable vulnerabilities
Overcoming common risk challenges
In addition to providing visibility, our risk assessments help address pain points across various fields, including:
- Compliance and regulatory requirements
- Customer and contractual obligations
- M&A due diligence
- Reporting risks to the board
- Breach readiness and response
- Expanding data footprint and business environment
- Peer benchmarking
- Evolving threat landscapes
To meet your unique needs, we offer assessments in several critical areas, including:
- Business process risk: Determine the potential exposure your organization has to financial losses if a breach were to occur. Then, use your custom roadmap to improve your security program.
- Cybersecurity Rapid Assessment®: Analyze risk and/or maturity against a high-level subset of the National Institute of Standards and Technology Cybersecurity Framework. Identify major gap areas and use results to establish program needs and growth, based on your organizational risk and prioritization.
- Framework-driven maturity: Evaluate your current processes and controls to gain insights. Use these to better your information security efforts and enhance your ability to identify, protect, detect, respond to and recover from a cyber incident.
- Framework-driven risk: Support your executives in making business decisions that better align security efforts with enterprise risk.
- IT risk: Understand the risk profile of your technology infrastructure and identify the highest areas of risk. Use your findings to design a more effective IT audit program.
- Risk management assessment: Taking an agile approach to governance, while keeping organizational purpose and business strategy at the forefront of development, this assessment provides a transformative understanding of your organization’s risk universe.
Benefits of a risk management assessment include:- Holistic view of risks: By integrating various risk processes, your organizations gains an understanding of risks across different departments. The interconnectedness helps identify potential threats that might not be visible when risks are managed in silos.
- Aligned objectives: The assessment aligns the objectives of the internal audit with your organization’s risk management strategy, enabling the audit to address the most critical threats and opportunities.
- Enhanced efficiency: By understanding the risk landscape, internal auditors can prioritize their efforts, making the audit process more efficient and effective.
- Improved decision making: Integrating risk management assessments with internal audit provides better visibility into risk trends and mitigation activities, which supports informed decision making.
- Proactive risk management: Risk management assessments are proactive, focusing on identifying and mitigating risks before they materialize, rather than reacting to issues after they occur.
- Risk management assessment: Taking an agile approach to governance, while keeping organizational purpose and business strategy at the forefront of development, this assessment provides a transformative understanding of your organization’s risk universe.
- Physical site: Gain insights to your physical security posture as it relates to protecting individuals and data within your facilities. Additionally, we make sure that safety systems and communication are consistent across your control groups.
- Privacy: Get a detailed look at your organization’s data privacy policies, practices and overall program. We help you understand, design, implement and maintain an effective privacy function that can support compliance efforts and mitigate risks to personal data.
- Ransomware risk: Be aware of the potential spread of infection and determine your business's response and recovery capabilities. Through interviews and document reviews, we initiate a technical emulation of a ransomware attack, providing you with a realistic validation of the controls in place.
- Third-party risk: Get a custom blueprint to help identify and manage your third-party risks.
Case study
A global telecom company looks ahead
See how RSM helped the company manage risk, implement new systems and optimize its sales organization.
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