Army documents marked Top Secret…data on 14 million Verizon customers…voter information on 198 million Americans…Just a few of the recent reports on data breaches—or open data discovered by security researchers before a breach occurred—on Amazon S3 “buckets”.
Whether you’ve just been introduced to FAIR, recently completed RiskLens’ FAIR training, or learned about FAIR through self-study, pursuing the Open FAIR Certification is a worthwhile goal. As more large companies and regulatory bodies accept FAIR as a leading methodology for quantitatively analyzing risk, the Open FAIR Certification is becoming increasingly valuable.
“It’s relatively rare that you get security leaders and board members together on a panel to talk about things,” says Wade Baker, who moderated “What CISOs Need to Tell the Board About Cyber and Technology Risk” panel discussion at FAIR Conference 2017.
The cyber and technology risk profession continues to evolve many of its practices. Because of this, new and unanswered questions reveal themselves, such as:
- How mature is the profession today?
- Where are we weakest/strongest?
- Which improvements in maturity are likely to matter most?
- How do we rate against others in our industry?
With large companies under near constant attack from malware, phishing, and hacking attempts, getting an estimate on cybersecurity risk means reaching a clear understanding of how many of the massive number of threats actually turn into losses.
Dashboards. Metrics. Data. Everybody has them; most don’t know how to use them effectively. It’s a bold statement; but, according to Jack Jones and Jack Freund it is a truism in the risk management field.
“You are clearly out of compliance with a federal law.” When you, as a risk management professional, hear this, what is your first reaction?
A. “Yikes! We better fix that immediately!”
B. “That sounds like a problem for the Compliance Department?”
C. “So what? The government has it’s hand in everything, let us run our business!”
D. “Hmm…let’s perform a risk analysis and see if we should be concerned.”
In this short video interview for RSA, Jack Jones, Chairman of the FAIR Institute, and RiskLens CEO Nick Sanna give a high level introduction to the value proposition of FAIR: changing the mindset among risk professionals that keeps them in permanent crisis mode.
The National Institute of Standards and Technology, the Federal Reserve, The Open Group, PCI – a prestigious list of organizations and agencies cite or suggest FAIR as a leading model for cyber risk analysis and management. Expect this list to grow as more risk professionals and regulators come to the conclusion that simply following risk management frameworks isn't enough–they need quantitative analytical models to make effective decisions on risk.
Becoming FAIR Trained and Certified will change how you, your team, and your organization view and act on risk. Fully understanding and implementing the FAIR model makes risk professionals into business-aligned leaders, showing their organizations the way to better, more informed and cost-effective decision-making.