Why undergo cyber risk quantification?
Cyber risk quantification qualitatively and quantitatively measures the impact of cybersecurity risks on your organization. It is a complex process that has to evolve as quickly as your adversaries’ strategies do, which requires leveraging various data points, including cybersecurity insurance loss data, threat intelligence, and integrating the right framework and methodology. But when done right, it empowers you to understand the potential financial impact of various threats, and assigns a risk score for you to prioritize mitigation efforts. 

Benefits of cyber risk quantification include:

Financial risk impact visibility: With better visibility into the potential impact of an incident or security event that disrupts your operations, you can assess your risk exposure and estimate the potential financial loss caused by a security attack.
Resource allocation: Armed with the possible financial impact of different threats, you can direct/redirect and allocate your finite resources to better defend against – and potentially respond to – the greatest threats. This optimization of resource allocation can be an integral part of business strategy where organizations are “directed to do more with less.”
Risk management: Cyber risk quantification can help you refine and enhance your risk management approach by enabling informed decision-making on how and where to strengthen your security practices so that you can manage risks more efficiently.
Stakeholder communication: The outputs of cyber risk quantification can provide a common language for your business stakeholders and security team, helping them land on the same page concerning your organization’s risk appetite, risk tolerance, and risk management spending. This can also be communicated to the rest of the organization to raise broader cybersecurity awareness.

CohnReznick powered by Mastercard Cyber Quant

CohnReznick’s cybersecurity risk assessment methodology, combined with the highly automated approach of Mastercard’s Cyber Quant platform, provides you with a cyber risk score that translates cyber risk into financial impact and provides strategic recommendations to help you prioritize next steps.

Service offerings

  • Recommend the appropriate industry-known framework that best fits your organizational needs and risk appetite. This provides insight into how well the organization is aligned with industry frameworks and standards and the overall maturity of the cybersecurity program by identifying strengths and weaknesses.
  • We provide a strategic cybersecurity road map, leveraging the latest industry framework releases and quantitative, data-driven analysis that uses a cyber risk score to estimate potential financial losses and cyber risk impact to your organization.
  • We help you proactively monitor and manage risks through ongoing risk management practices and provide financial impact insights into unaddressed risks.
bhavesh vadhani
PRESERVE AND CREATE VALUE, MANAGE CYBER RISKS
"Integrating the proper framework and methodology is essential to effective cyber risk quantification and proactive risk management."
Bhavesh Vadhani, Principal, Global Leader, Cybersecurity, Technology Risk, and Privacy
Mastercard Cyber Quant

Forrester recently named Mastercard Cyber Quant a “Strong Performer” in the Cyber Risk Quantification (CRQ) market. Mastercard Cyber Quant has been successfully implemented in multiple industries such as financial services, energy, healthcare, and insurance, catering to varied client requirements.
mastercard
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Bhavesh Vadhani

Bhavesh Vadhani

CISA, CRISC, CGEIT, PMP, CDPSE, Principal, Global Leader, Cybersecurity, Technology Risk, and Privacy
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Contact Bhavesh Bhavesh+Vadhani [email protected]

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