IT & Security Risk Management Overview

Introduction to IT & Security Risk Management

While digital transformation has enhanced efficiency and insights within organizations, it has also added layers of complexity for IT & security risk managers. It is increasingly important that businesses have a clear understanding of their IT assets, operations, and associated risks as threats and vulnerabilities evolve.

OneTrust delivers the functionality and ease of use to help IT & Security Risk teams map, measure and action risk in real-time to scale their risk management programs. With OneTrust, you can centralize your IT ecosystem, streamline the risk management lifecycle, and promote risk ownership with a first-line friendly solution. Identify and manage IT risk today and in the future without the need to retool as your business evolves.

IT & Security Risk Management is part of the GRC & Security Assurance cloud with OneTrust. To learn more, see the IT & Security Risk Management knowledge base.

Note:

For a demo on IT & Security Risk Management, watch the video here.

Module Benefits:

  • Centrally manage and track risk, controls, and issues to evaluate control effectiveness and better understand residual risk throughout the business

  • Assess risk in context: Business-friendly questionnaires integrate and translate risk and control updates into the language of the business

  • Automate risk insights – Leverage dynamic questionnaires, workflow, and integrations across your InfoSec tech stack.

  • Flexible risk methodology – leverage out-of-the-box capabilities to reduce subjectivity and balance qualitative and quantitative insights with scalable, easy to configure scoring

Problems Solved by IT & Security Risk Management:

Centralize Risk Management

: Establish a common scoring and risk aggregation methodology that’s flexible, easy to configure, and that you can evolve over time

Create an Inventory

: Link your risks to an inventory of assets, processing activities, entities, and vendors to get a more accurate picture on how risks impact your organization

Automate Workflows

: Use automation rules to ensure reports are sent out, assessments are triggered, risks are flagged, and risk and control owners are notified and informed

Report on Performance

: Visual and customizable reporting dashboards to show the health of your IT risk management program

Risk Aggregation

Configure the aggregation method for determining how individual risk points form a comprehensive risk score for assessments and inventories to better understand your overall risk exposure. For more information, seeSetting Up Risk ScoringandRisk Scoring Upgrade Guide.

Typical Users

Admins or key users of IT & Security Risk Management would report to or have the following titles:

  • Chief Information Officer

  • Chief Risk Officer

  • Chief Compliance Officer

  • Chief Ethics & Compliance Officer

Relationship in OneTrust Platform

IT & Security Risk Management can integrate with other OneTrust modules to enable enhanced features:

Third Party Risk Exchange

: Enrich vendor insights and accuracy evaluated in Third-party risk related to your IT providers and service providers

Data Mapping Automation

: Leverage a shared data model with cross-functional updates across both privacy and IT security to work off the latest insights

Third-Party Risk Management (TPRM)

: Pull in vendor records, linked vendor risks and assessments, assessment workflows, overlapping attributes