Understanding the difference between IT \ Cyber Risk and Cyber Maturity Assessments

Many IT professionals struggle with the difference between a Cyber Maturity Assessment and an IT or Cyber Risk assessment. In many cases they may feel similar in experience, however they have very different outcomes. In either case both are crucial activities for organizations striving to safeguard their assets and understand their current security posture. As cyber threats increase in complexity and frequency, it becomes imperative for businesses to develop a robust risk mitigation strategy. In this blog we will explore the differences and benefits from both an IT/Cyber Risk Assessment and the Cyber Maturity assessment.

Cyber Maturity Assessments serve as the foundation for identifying and prioritizing potential future risks that may negatively impact an organization's individuals, digital and physical assets and the overall operating environment. . By understanding where the risk is , businesses can allocate resources effectively to protect against cyber threats. For more on this you can read our blog on IT Risk Assessments .

A Cyber Maturity Assessment will take a look at the current state of security controls an organization has implemented. The Assessment will typically be based on an industry framework such as NIST CSF, CMMI or CIS Control Framework. The assessment is typically used to initially baseline the security controls and their effectiveness. Subsequent assessments will trend the maturing and evolution of the security controls to address the security needs of the organization.

Legal and Regulatory Implications

Compliance with legal and regulatory requirements is another critical aspect of Cyber maturity assessments. Laws such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States mandate stringent data protection measures. Non-compliance can result in hefty fines and legal repercussions.

Steps Involved in Cyber Maturity Assessment

Conducting a Cyber Maturity Assessment involves several critical steps, each designed to provide a comprehensive understanding of an organization's cybersecurity controls . These steps typically include:

1. Asset Identification: Identifying all critical assets to evaluate is the first step in completing a cyber maturity assessment. This activity sets the tone and scope of the assessment and applicable controls.
2. Target Maturity Level Identification: Next assigning target maturity levels to security control areas allows you to establish a baseline score for the current state environment, desired maturity objectives, and industry comparison. For example, an access management control may be initially baselined as Maturity level .5 (not mature), and a desired maturity level of 3 (Mature and operating effectively). This provides the reader with an understanding that a plan needs to be developed to improve the maturity over time.
3. Control Library Development: Developing the controls library sets a common understanding of how an organization will address any risks and vulnerabilities. This library is a living repository that will evolve as your organization matures in its cyber journey.
4. Governance Review: Ensuring that the appropriate corporate policies and procedures are not only addressing and supporting the security controls, but are properly communicated to the organization and third party partners is crucial to ensuring a common understanding of expectations in maintaining a security program.
5. Security Control Validation: Reviewing and comparing the current controls for their structure and effectiveness allows an organization to understand if the controls they have implemented are addressing the identified risks, actively preventing future incident occurrences and understanding of the changes being implemented are contributing to the overall maturing of their cybersecurity program.

Conclusion

In an era where competing priorities in an organization may be affected by budgets, resources and external factors, cyber threats continue to grow and are becoming a higher priority. Cyber Maturity Assessments are a vital component of any organization's cybersecurity strategy. By understanding the effectiveness of your current controls, an organization can provide information to the leadership team to prioritize budgets and resources to address critical findings and define expected outcomes from the investment.

For more information on how CyberGuard Advantage can assist with conducting a Cyber Maturity Assessment to help baseline and mature your organization's security posture, contact our experts today.