What does a “high” risk mean to you? What does it mean to your colleague? Does your organization have multiple risks marked as “high” but it’s hard to figure out which one to focus on first? If you answered yes to the last question, risk quantification may be the right fit for you. However, risk quantification has proven to be a popular and complex subject. That is why we invited Bob Maley, Chief Security Officer at Black Kite to talk to us about how risk quantification helps risk pros use quantification to make sense of qualitative data and effectively communicate risk across an organization. Bob is CRISC, CTPRP, and an Open FAIR™ certified risk quantification expert who has led state-of-the-art risk management programs.
In this episode of GRC & Me, Bob discusses the importance of risk quantification and how it can help organizations make better strategic decisions. We also discuss how Black Kite’s Open FAIR™ based solution calculates the probable financial impacts of cyber breaches and how it communicates risks in quantitative, easy-to-understand business terms so that organizations can risk smarter and with confidence.