Security risk assessments are the cornerstone of cybersecurity preparedness. They help companies uncover data security risks and make more effective and informed decisions concerning their security programs and efforts. Not only does a security risk assessment make good business sense, it is typically required by law.
Epstein Becker Green’s Privacy & Security Group regularly assists clients across a broad range of industries in assessing their security threats and risks. Our security risk assessments are designed to analyze how clients collect, use, and protect the personal information of employees, clients, customers, patients, and vendors; uncover weaknesses; and then minimize the risk of a data breach through more effective and legally compliant practices, procedures, and policies. In addition, our security risk assessments are protected by the attorney-client privilege to the fullest extent permitted by law.
Specifically, our security risk assessment includes the following steps:
- Determine client data and the network safeguards required to protect that data.
- Review the client’s data privacy policies, information practices, training materials, and programs, and audit a client’s websites to make sure that they will withstand regulatory scrutiny and comply with legal standards and best practices.
- Compare the client’s policies and procedures against legal and compliance benchmarks, taking into account the clients’ resources, budgeting restrictions, and other limitations.
- Assess the effectiveness of internal auditing procedures, risk reporting, and enforcement activities.
- Review contracts with service providers and other vendors.
- Pinpoint weaknesses and compliance gaps that may lead to legal and strategic risks and recommend compliance requirements and strategies to better protect the client’s data, networks, and systems.
- Draft or revise the client’s privacy and security policies and procedures, as well as incident response plans, service provider agreements, and training materials, among other things, to minimize data security risks.