The services associated with implementing security governance in an organization include the creation and management of processes to oversee the cybersecurity teams responsible for mitigating business risks. Security governance executives then make decisions that allow them to prioritize risks so that security efforts are focused on business priorities, not their own.
Security Governance is the overall system of rules, processes, procedures and standards that govern the business, including the definition of roles and responsibilities of individuals within the organisation for individual activities and assets. Risk, or enterprise risk management, is the process of identifying potential risks to the business and acting to reduce or eliminate their impact on the organization's assets and associated financial impact.
A formal information security strategy must be implemented by developing comprehensive information security policies in line with the organization's core focus and purpose. To ensure effective governance, a set of corporate standards must be developed for each policy that provide defined boundaries for acceptable processes and procedures. Education, training, and awareness must also be considered when providing information to all employees as part of an ongoing process to change behaviors that are not conducive to safe and secure operations.
This security framework provides the basis for developing a cost-effective information security program that supports the organization's goals. The overall goal of the program is to provide assurance that information assets are afforded a level of protection commensurate with their value or the risk to the organization posed by their compromise. The framework generates a set of activities that support the achievement of this objective.
Medium and large organizations that want to cost-effectively manage information security to support the primary purposes/interests of the business.
Increased predictability and reduced uncertainty in business operations
Reduce information security risks to a definable and acceptable level
Ensuring an effective information security policy and policy compliance
Structure and framework for optimizing the allocation of scarce security resources
A level of confidence that critical decisions are not based on faulty information
A solid foundation for effective risk management, process improvement and rapid response to information security incidents
Responsibility for protecting information during critical business activities such as mergers and acquisitions, business process re-engineering and regulatory response
Reducing losses from security-related events and ensuring that security incidents and breaches are not catastrophic Improved reputation in the market, which has been shown to result in increased shareholder value
