WHAT IS RISK MANAGEMENT?
Risk management is identifying, assessing, evaluating, and mitigating the impact from an unseen event. Insider threats, adversarial actions, legal burdens, accidents, natural disasters, and brand reputations are just some of the risks facing individuals and corporations. The North Group has helped our clients navigate various crises by mitigating adverse impacts and helping them overcome complicated problem sets. TNG is ready to bolster your resilience and ensure your stakeholders, family members, assets, and cyber connectivity remains safe and secure.
Identifying Threats
Our clients face various threats, some of which are self-induced, while others are intentional or natural; however, to mitigate a threat, you must first assess it. Identifying known, likely, or suspected threats give an understanding of the specific risks to a lifestyle or business eco-system.
TNG employs proven intelligence processes, analysis, best practices, and global threat monitoring resources to help you understand these threats. These tools refine and validate identified threats and assist in implementing effective solutions. When we appropriately identify and understand the threat, we can then determine our vulnerabilities to it.
Assessing Vulnerabilities
Once our risk management team has determined a client’s perceived threat matrix, the next step in the process is evaluating what vulnerabilities exist. Determining a client’s vulnerability can be done by interviews, site walkthroughs, penetration testing, and closely sourced intelligence collection and analysis. When vulnerabilities are identified, we evaluate the countermeasures currently in place. Countermeasures (or control measures) encompass the procedures, policies, protocols, and systems used to mitigate the current threats and vulnerabilities. After completing this evaluation, we are at the final phase of determining client risk, known as impact analysis.
Analyzing The Impact
Potential loss, exposure, long- and short-term effects, as well as the viability of the other factors (threats, vulnerabilities, and countermeasures), are considered when analyzing the impact. Evaluating impacts and improving mitigation efforts can save clients exorbitant costs, loss of life, litigation expense, supply chain disruption, and other business failures. Through analyzing the impact of your risks, we can identify ways to reduce them, as well as prioritize mitigation measures.
Validating The Analysis
Identifying risk is only part of the solution. Tabletop exercises (TTXs) and other means of testing help evaluate a solution’s strength and viability, which is key to a Risk Management program’s success. Security professionals help clients plan, mitigate and deter risk though these corporate-driven, family office and government involved exercises.
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