Risk Management Services by Ace

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Risk Management Services by Ace

Risk is like an uninvited guest in a business. And when it arrives, it can wreak havoc on your organization if you’re not prepared. Hence, it is important to ensure your IT infrastructure can stand up to unexpected events like natural disasters, IT meltdowns, and cyberattacks. Assessing the risk qualitatively to prepare and implement controls that minimize it is a crucial step toward meeting compliance requirements and upholding legal, regulatory, and contractual obligations. Don’t leave your organization’s future to chance – take action today with our expert Risk Management Services! 

Risk Management Services

Risk Management process

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Identify

To encapsulate the risk faced by your organization, our experts will first establish the scope of the analysis. Identifying your organization’s information assets, classifying them according to priority and importance, and defining the risk inherited by your organization from them. 

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Assess

Once your organization’s risk has been identified, we analyze it, considering your risk appetite and capacity to understand what level of risk tolerance would best suit your needs.

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Review

Processing the risks identified through a framework allows our experts to understand what events and IT components pose the most risk to your organization. 

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Control

Knowing is half the battle; preparing is the other half. From the insights provided by analysis, our experts will provide you with corrective actions, suggested controls, and security measures to be implemented to reduce the risk posed by your organization. 

Risk Management Capabilities by Ace

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Insights for Disaster Recovery Plan

Knowing the risk your IT infrastructure poses to your business helps you prepare for natural disasters and analysis provides insights to create a resilient Business Continuity and Disaster Recovery plan.

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Risk Identification

Identifying risk events or risk sources allows the management to take necessary precautions to minimize an organization's residual risk.

Crisis Control

Crisis Control

Risk sources can be conveyed to executives and stakeholders to ensure proper controls are implemented to protect the organization during a crisis.

Compliance Support

Compliance Support

The risk management framework can be mapped to various compliance requirements. It is an important step in achieving certifications like ISO27001, NIST-800, Etc.

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Managed IT Services Explained

FAQs for Accelerating Business Growth

Risk Management is the process of identifying and evaluating potential financial, legal, strategic and security risks associated with a business that could impact its earnings and capital. Such risks can arise from various sources, including but not limited to financial instability, legal obligations, mismanagement of strategy, unexpected events, and environmental calamities.

The prime objective of risk management activities is to safeguard the organization’s assets. Assets here include all tangible and non-tangible resources such as an organization's reputation. Some other examples of risk events are mentioned below:

New regulatory requirements having an impact on the organization
Loss of key personnel
Natural disasters
Ransomware attack

Risk management activities and business expansion should work in tandem. Revisiting the risk matrix and establishing controls to minimize risks can be done quarterly or bi-annually. Organizations should keep updating and maintaining risk registers to track new risk sources.

The importance of a risk management plan cannot be overstated for businesses of any size. A small business is more susceptible to risk events as it is less likely to have the capital or financial liquidity to quickly recover or replace a product/service offering component.

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