Elevating Risk Assessments: How ORCA Now Delivers High-Quality, NIST-Aligned Solutions
In the ever-evolving landscape of cybersecurity, risk assessments are a cornerstone of any robust information security program. At ORCA Now, we recognize the critical importance of delivering a risk assessment that not only meets but exceeds industry standards. Our approach, meticulously aligned with the NIST SP 800-30 framework, results in a well-detailed and informed risk register that effectively quantifies risks and identifies the most suitable treatment options, ensuring that residual risk is minimized.
The ORCA Now Risk Assessment Methodology
Our risk assessment process begins by identifying potential risks within your organization's infrastructure and operations. This identification phase is the foundation of our risk register, where each risk is meticulously documented, including its scenario, likelihood, impact, and the resulting inherent risk score NIST SP 800-30, Section 3.2.
We employ a qualitative approach to quantify these risks, which is consistent with NIST's recommendations. Specifically, we calculate inherent risk using the formula:
Quantified risk provides valuable insights that enable organizations to implement effective risk-based prioritization strategies. By understanding the extent of potential risks, businesses can focus their resources on the areas that require immediate attention and action.
Quantitative risk assessment provides a valuable framework that allows for effective prioritization based on the most severe and impactful risks faced by an organization. By analyzing numerical data, it enables decision-makers to focus their resources and attention on the risks that pose the greatest threat, ensuring a more strategic approach to risk management.
Inherent Risk = Inherent Likelihood x Inherent Impact NIST SP 800-30, Section 3.3.4.
This formula helps us understand the risk level before any controls are applied. Once inherent risks are identified and assessed, we then factor in the control measures already in place, leading to the calculation of residual risk:
Residual Risk = (Likelihood x Impact) - Control Treatment NIST SP 800-30, Section 3.3.4.
This calculation provides a clear picture of the risk landscape after controls are applied, helping organizations understand the effectiveness of their current security posture.
Generating a Risk Rating Score
One of the key outputs of our risk assessment is a risk rating score. This score is crucial for effectively prioritizing identified risks, enabling organizations to allocate resources efficiently. By categorizing risks based on their rating, we help you focus on the most critical areas that could impact your business, ensuring that high-risk areas are addressed promptly NIST SP 800-30, Section 3.3.5.
Aligning with NIST SP 800-30
Our risk assessment methodology is fully aligned with the NIST SP 800-30 framework. This alignment ensures that our approach is grounded in best practices recognized globally, offering you peace of mind that your risk management strategy is both comprehensive and compliant with industry standards NIST SP 800-30, Section 3.4.
By adhering to NIST guidelines, our assessments cover all critical aspects of risk management, from identifying and evaluating risks to developing effective risk treatment plans NIST SP 800-30, Section 3.4. This rigorous approach leads to a well-informed risk register that is not just a static document but a dynamic tool for continuous improvement.
Benefits of ORCA Now’s Risk Assessment
The benefits of our risk assessment process are manifold:
Clear risk treatment options are outlined to organize the follow-up actions needed to address and manage identified risks in the organization.
Defined risk treatments identify clear and actionable steps that the organization has committed to implementing in order to effectively reduce risk and enhance overall security measures.
Informed Decision-Making: Our risk register provides clear insights into the risks your organization faces, allowing you to make informed decisions about where to focus your mitigation efforts NIST SP 800-30, Section 3.5.
Effective Risk Treatment: By identifying the most suitable risk treatment options, we help you reduce residual risk to acceptable levels, ensuring that your organization remains secure and resilient NIST SP 800-30, Section 3.5.
Prioritization of Resources: Our risk rating score enables you to prioritize resources effectively, ensuring that high-risk areas are addressed first, minimizing potential impact NIST SP 800-30, Section 3.5.
Compliance and Assurance: By aligning our assessments with NIST SP 800-30, we ensure that your risk management practices are compliant with industry standards, offering you assurance that your organization is following best practices NIST SP 800-30, Section 3.5.
Conclusion
At ORCA Now, we are committed to delivering risk assessments that go beyond mere compliance. Our approach, rooted in the rigorous methodology of NIST SP 800-30 NIST SP 800-30, Section 3.6, ensures that your organization is equipped with a high-quality, detailed, and actionable risk register. This allows you to not only understand your risks but also to treat them effectively, ensuring that residual risks are minimized and your organization is better protected against potential threats.
With over a decade of experience in information security, including defending DoD networks and leading cybersecurity initiatives at multiple YC-backed SaaS startups, ORCA Now is your trusted partner in navigating the complexities of risk management. We bring military discipline and startup agility to every engagement, helping you simplify compliance, succeed in audits, and scale your business securely.
Contact us about getting a comprehensive risk assessment completed for your organization today!