What is the primary purpose of Cyber Risk Management?

The primary purpose of Cyber Risk Management is to identify, assess, and mitigate risks to the organization's information and technology assets. This involves a systematic approach to understanding potential threats and vulnerabilities that could impact the security and integrity of the organization's data and technology infrastructure. By effectively managing cyber risks, organizations can protect sensitive information, maintain business continuity, and ensure compliance with relevant regulations, thereby safeguarding their reputation and stakeholder trust.

The process typically includes conducting risk assessments to evaluate the level of exposure to cyber threats, implementing security measures to mitigate those risks, and continuously monitoring the risk environment to adapt to new challenges. This proactive management of risks is crucial in today's digital landscape where cyber threats are increasingly sophisticated and prevalent.