Training course on Cyber Risk Assessment and Management

Module 1: Introduction to Cyber Risk and Risk Management Concepts
Overview:
This module introduces the fundamentals of cyber risk management, its importance in business operations, and its integration into organizational
governance.
Key Focus Areas:
Definition and nature of cyber risk in modern organizations
Components of risk: assets, threats, vulnerabilities, and impacts
Distinguishing cybersecurity risk from IT and operational risk
Principles of risk management and governance alignment
Cyber risk lifecycle: identification, assessment, treatment, and monitoring
Learning Outcome:
Participants will gain foundational understanding of cyber risk management concepts, terminology, and frameworks.

Module 2: Cyber Threat Landscape and Risk Context
Overview:
This module explores the evolving global cyber threat environment and its implications for organizational risk exposure.
Key Focus Areas:
Mapping the threat landscape: cybercrime, insider threats, APTs, and emerging technologies
Understanding threat actors, motivations, and attack vectors
Evaluating organizational risk context: business, technology, and regulatory environments
Threat intelligence and its role in proactive risk management
Case studies of major cyber incidents and their risk implications
Learning Outcome:
Participants will understand how to analyze the threat landscape and contextualize cyber risks to their organization’s environment.

Module 3: Frameworks and Standards for Cyber Risk Management
Overview:
This module provides an overview of key international frameworks and standards that guide structured risk management processes.
Key Focus Areas:
Overview of ISO/IEC 27005, NIST SP 800-30, NIST RMF, and COBIT
Introduction to FAIR (Factor Analysis of Information Risk) quantitative model
Integration with ISO 31000 and enterprise risk management (ERM) frameworks
Regulatory drivers influencing risk management (GDPR, PCI DSS, HIPAA, etc.)
Selecting and customizing frameworks based on organizational needs
Learning Outcome:
Participants will gain the ability to align cyber risk management programs with global standards and compliance requirements.

Module 4: Risk Identification and Asset Classification
Overview:
This module emphasizes identifying and classifying critical information assets and mapping associated risks.
Key Focus Areas:
Identifying assets, data flows, and interdependencies
Asset criticality and business value assessment
Identifying threats and vulnerabilities using structured techniques
Tools and techniques for risk identification (checklists, brainstorming, vulnerability databases)
Building and maintaining a risk register
Learning Outcome:
Participants will learn to identify, classify, and document cyber risks effectively.

Module 5: Risk Assessment Methodologies
Overview:
This module explores qualitative, quantitative, and hybrid approaches to assessing cybersecurity risks.
Key Focus Areas:
Risk assessment process: estimation, evaluation, and prioritization
Qualitative vs. quantitative risk assessment methods
Risk scoring and rating models (likelihood and impact analysis)
FAIR methodology for quantitative risk assessment
Case study: conducting a full risk assessment exercise
Learning Outcome:
Participants will acquire the skills to apply multiple assessment methodologies to evaluate cyber risks.

Module 6: Risk Treatment and Mitigation Strategies
Overview:
This module focuses on developing effective strategies for treating and mitigating identified risks.
Key Focus Areas:
Risk treatment options: avoidance, mitigation, transfer, and acceptance
Selecting and implementing security controls (based on ISO 27002, NIST SP 800-53)
Defense-in-depth strategies and layered security design
Prioritizing and balancing cost-benefit in risk mitigation
Documentation of risk treatment plans and control testing
Learning Outcome:
Participants will learn to design and implement actionable risk mitigation strategies aligned with organizational objectives.

Module 7: Risk Communication, Reporting, and Decision Support
Overview:
This module covers techniques for communicating risk effectively to diverse stakeholders.
Key Focus Areas:
Developing cyber risk reports and dashboards for executives
Risk communication frameworks and visualization tools
Translating technical risks into business language
Establishing risk appetite and tolerance levels
Decision-making under uncertainty and resource constraints
Learning Outcome:
Participants will be able to communicate cyber risk insights and recommendations effectively to senior leadership.

Module 8: Monitoring, Review, and Continuous Improvement
Overview:
This module focuses on ensuring continuous oversight and improvement of cyber risk management activities.
Key Focus Areas:
Continuous monitoring and reassessment of risks
Risk key performance indicators (KPIs) and key risk indicators (KRIs)
Cyber risk metrics and dashboards
Auditing, feedback loops, and lessons learned
Establishing a culture of proactive risk management
Learning Outcome:
Participants will understand how to maintain and improve cyber risk management through monitoring and feedback mechanisms.

Module 9: Integration of Cyber Risk with Business and Enterprise Risk Management
Overview:
This module explores how cybersecurity risk aligns with broader enterprise risk management strategies.
Key Focus Areas:
Integrating cyber risk into enterprise risk governance structures
Board-level risk oversight and reporting
Aligning cyber risk with operational, financial, and strategic risks
Risk aggregation and correlation across business units
Using GRC (Governance, Risk, and Compliance) tools for integration
Learning Outcome:
Participants will learn how to embed cyber risk considerations into overall enterprise risk frameworks.

Module 10: Building a Cyber Risk Management Program
Overview:
The final module brings together all concepts to develop a sustainable, organization-wide cyber risk management framework.
Key Focus Areas:
Designing a cyber risk management policy and governance structure
Roles and responsibilities (CISO, risk owners, audit committees)
Developing risk management workflows and documentation standards
Automation and tooling for risk management (GRC platforms)
Case study: building and presenting a cyber risk management roadmap
Learning Outcome:
Participants will gain the capability to design, implement, and sustain an enterprise cyber risk management program.