At Reciprocity, our mission has always been to simplify the way your organization manages risk and compliance, and to encourage transparency and trusted relationships with your key stakeholders. With ZenGRC, we delivered the industry’s best GRC solution and simplified a traditionally complicated tool to make it easy for CISOs, CROs and CCOs to manage their organization’s information security. Today, we are excited to announce our next massive milestone: ZenConnect.

As technology continues to pervade modern-day society, security and trust have become significant concerns. This is particularly due to the plethora of cyber attacks that target organizations, governments and society. The traditional approach to address such challenges has been to conduct cybersecurity risk assessments that seek to identify critical assets, the threats they face, the likelihood of a successful attack and the harm that may be caused.

Cybersecurity risk is the probability of a cyber attack or data breach on your organization. Organizations are becoming more vulnerable to cyber threats due to the increasing reliance on computers, networks, programs, social media and data globally. Data breaches, a common cyber attack, have massive negative business impact and often arise from insufficiently protected data.

Information Risk Management (IRM) is a form of risk mitigation through policies, procedures, and technology that reduces the threat of cyber attacks from vulnerabilities and poor data security and from third-party vendors. Data breaches have massive, negative business impact and often arise from insufficiently protected data. In this article, we outline how you can think about and manage your cyber risk from an internal and external perspective.

Across the board, security teams of every industry, organization size, and maturity level share at least one goal: they need to manage risk. Managing risk is not the same as solving the problem of cybersecurity once and for all, because there is simply no way to solve the problem once and for all. Attackers are constantly adapting, developing new and advanced attacks, and discovering new vulnerabilities.

Before beginning, you might ask yourself: Does my organization need a GRC Solution? The simple answer is yes. There are over 200 complex frameworks and workflows that simply can’t be managed by floods of repetitious spreadsheets or word documents. Let’s define “Governance Risk-Management Compliance” and how the three pillars work together in relation to an organization and its objectives. Check top 30 security frameworks – 2019.

The era of Big Data is here. Information now exceeds fantastic proportions, globally measured in zettabytes (each zettabyte is a billion terabytes) and growing at an exponential rate that defies comprehension. According to the IDC, global data is expected to grow from 23 Zettabytes (ZB) in 2017 to 175 ZB by 2025.

In all sectors, technology has become a vital aspect of operations and has transformed the workplace, but that dependence on technologies also poses a threat to organizational wellbeing. Data breaches, system failures, malicious attacks–as well as natural disasters that impact technologies–can wreak havoc on company reputations, regulatory compliance and fiscal health.

Since financial services industry collects, stores, and transmits sensitive non-public informationinformatino, malicious actors continue to target it. As the financial services industry embraces digital transformation, it opens itself up to new risks. Cloud infrastructures act as a primary target, leading to new risks arising from the new technologies. Emerging risks facing the financial services industry require continuous monitoring to retain a robust cybersecurity posture.

A control weakness is a failure in the implementation or effectiveness of internal controls. Malicious actors leverage internal control weakness to circumvent even the most robust security measures. The wide range of internal controls, the increased number of new technologies, and the rate at which malware evolves necessitate data security control monitoring. Regularly monitoring allows organizations to test the effectiveness of their internal controls and expose weaknesses in their implementation.