vGRC As a Service

As the world is becoming more and more connected and complex, the importance of interdisciplinary risk management and a framework for monitoring and managing compliance increases. Small risk can easily become a major issue, which in turn deciphers organization efficiency, spilling over into numerous other imperative angles of your business.

Today’s industry is advancing quickly, and hackers are putting their actions into practice. Many businesses are underprepared and wait until there has been a breach before putting procedures in place to protect themselves from future cyber dangers or assaults. On the other hand, many astute business leaders are increasingly outsourcing their security programs to managed security services providers in order to increase competency, demonstrate security impact and value, and reduce complexity. With a managed security approach and a dependable cyber security partner, you are able to concentrate on business strategic priorities as the security service provider manages the ongoing compliance requirements, threat management, and data protection on a day-to-day basis.

vGRC as a Service is a flexible Managed Security Service that provides complete cyber security solutions which include governance, risk management, and compliance management. With our quality services, we assure that your data and infrastructure are protected with the latest technology and certified professionals, along with adherence to industry-specific compliance standards. We help our clients continually improve their cybersecurity maturity.

What is Virtual Governance, Risk, and Compliance (GRC)?

Virtual Governance, risk, and compliance (vGRC) is the collective set of different security services that help organizations maintain their confidentiality, integrity, availability, and privacy, and address uncertainty with respect to their business objectives. A well-planned GRC strategy with an integrated approach goes a long way. Think of it as internal risk management and auditing system that helps companies manage cyber risk.

Without a doubt, the biggest driver for GRC is regulation. While traditional industries such as banking, insurance, healthcare, and telecoms have borne the brunt of regulation in the past. Today’s digital age is fuelling a risk in regulation that touches all entities, large or small

The use of data, particularly personally identifiable information, has huge business potential as well as a risk of abuse. Therefore, governments and international agencies are having a closer eye on how digital businesses manage data. The rise in cyber-attacks, which expose personal data, as well as growing awareness by individuals and civil rights organizations, has shed new light on how companies manage information and technology through processes, people, and culture.

Regardless of the industry, your organization operates in, a competent GRC program can mean the difference between success and failure. Whether your organization exists in the insurance industry, banking, or finance, the risk is always right around the corner. Not to mention stakeholders have more demands than ever before.

First, let’s break down the acronym GRC into its three main components.

Governance

GRC Governance is making sure that the day-to-day organizational activities and critical capabilities are aligned with the overall business goals of the organization. Usually carried out by senior management, governance involves providing control mechanisms, policies, and procedures that allow management decisions to be effectively and systematically executed.

• The constant updating and renewing of regulations, forcing regular updates to IT security governance
• Understand and approach cybersecurity as an enterprise-wide risk management issue
• Align information security strategy with business objectives.
• establish an enterprise-wide risk management framework with adequate staffing and budget
• Review and approve an IT strategic plan that aligns with the overall business strategy.
• Promote effective IT governance.
• Oversee processes for approving the institution’s third-party providers.
• Oversee and receive updates on major IT projects, IT budgets, IT priorities, and overall IT performance.
• Oversee the adequacy and allocation of IT resources for funding and personnel.
• Approve policies to escalate and report significant security incidents to the Board of Directors.
• Hold management accountable for identifying, measuring, and mitigating IT risks.
• Provide independent, comprehensive, and effective audit coverage of IT controls.

Our vCISO service help you in taking care of all your governance requirement

Risk

The goal of risk management is to identify any threats to the company’s objectives. Whether these are cybersecurity threats or regulatory mistakes, the objective is to foster a unified approach that puts your business units in a position to succeed. The response of a given risk depends on its perceived gravity and possible impact and can involve controlling that risk, avoiding it, or transferring it to a third party, through standardized practices.

• Helps conduct a cyber-risk assessment by identifying internal controls needed
• Monitoring computer networks for security issues
• Investigating security breaches and other cybersecurity incidents
• Installing security measures and operating software to protect systems and information infrastructure, including firewalls and data encryption programs
• Document security breaches and assess the damage they cause
• Work with the security team to perform tests and uncover network vulnerabilities
• Fix detected vulnerabilities to maintain a high-security standard
• Stay current on Information Technology (IT) security trends and news
• Implement and maintain company-wide best practices for IT security
• Perform penetration testing
• Help colleagues install security software and understand information security management
• Enables accountability for information security
• Ensures the secure configurations of tools & technology
• Monitor network and application performance to identify irregular activity

Below are our services that help you to identify and mitigate all the technical risks of your infrastructure.

• Vulnerability Assessment
• Penetrate Testing
• Red Teaming
• Blue Teaming
• Security Operation Centre
• Business Continuity & Disaster Management
• Cyber Maturity Assessment

Compliance

Compliance considers the laws and regulatory requirements that impact each system within your organization. Compliance requirements ensure that your business processes follow standard operating procedures and protect themselves from legal action or financial penalties.

• Set and implement user access controls and identity and access management systems
• Perform regular audits to ensure security practices are compliant
• Deploy endpoint detection and prevention tools to prevent malicious hacks
• Set up patch management systems to update applications automatically
• Implement comprehensive security management systems across all assets on-premises and in the cloud
• Work with IT operations to set up a shared disaster recovery/business continuity plan
• Work with HR and/or team leads to educate employees on how to identify suspicious activity
• Maintain trust with others and serve as a driver of change and innovation
• Improve the internal process and align the security best practices
• Protects company from any legal action due to non-compliance.

Our Services will help you ensure you are compiled based on the below standard

• ISO Compliance Standards
  • ISO 27001 for ISMS
  • ISO 27017 for Cloud
  • ISO 27701 for Data Privacy
  • ISO 31000 for Risk Management
  • ISO 22301 for Business Continuity Plan
  • ISO 20000 for ITSM

• Other Best Standards
  • GDPR
  • PCI-DSS
  • HIPAA
  • NIST
  • SOC 1 & 2

Why Does Your Organization Need vGRC?

Organizations face a rapidly changing and increasingly complex business climate. Whether you’re part of a large corporation, government agency, small business, or non-profit, you’ll face numerous challenges, including:

• Constant changes to regulations and enforcement that severely impact business operations
• Stakeholder demand for strong performance outcomes, consistent growth, and transparent processes
• Growing costs of addressing compliance requirements and managing risk
• Increase of third-party relationships and associated governance challenges
• Potential legal and financial consequences resulting from lack of effective oversight and overlooking critical threats
• Maintaining desired Skills for Cyber Security Domain

‌A disorganized approach to GRC can slow down an organization and cost more — all while achieving less, missing requisite compliance requirements, and misidentifying threats to your revenue or reputation.

GRC Methodology of ISecServ

Over Approach

As has been stated before, GRC is best implemented in a holistic manner that encompasses the entire organization. This does not necessarily mean that an umbrella unit is required for coordination, even though that might work for certain types of entities. The iSecServ has designed a risk-based approach called vGRC as a Service that integrates the various sub-disciplines of governance, risk, audit, compliance, ethical hacking, Incident Handling & Response, and IT Business Continuity into a unified approach. This Model is made up of four components:

• LEARNabout organization station context, culture, and key stakeholders to inform objectives, strategy, and actions.
• ALIGNstrategy with objectives, and actions with strategy, by using effective decision-making that addresses values, opportunities, threats, and requirements.
• PERFORMactions that promote and reward things that are desirable, prevent and remediate things that are undesirable, and detect when something happens as soon as possible.
• REVIEWthe design and operating effectiveness of the strategy and actions, as well as the ongoing appropriateness of objectives to improve the organization.

These components outline an iterative continuous improvement process to achieve principled performance and are further decomposed into elements that are then supported by practices, actions, and controls. The actions and controls are classified into Proactive, Detective and Responsive.