🏦 Cyber Risk Management Framework

📌 Overview

This project demonstrates a structured approach to identifying, assessing, documenting, and managing cyber and technology risks within an organization.

The framework is designed from a Governance, Risk & Compliance (GRC) and Technology Risk perspective, focusing on how security weaknesses can translate into operational, regulatory, financial, and business impact.

This repository simulates how cyber risk assessments and governance activities may be performed within regulated environments such as financial services and healthcare.

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🎯 Objectives

• Identify technology and cyber risks
• Evaluate control effectiveness
• Assess inherent and residual risk
• Document risk treatment approaches
• Support audit-readiness and governance activities
• Improve visibility into organizational risk exposure

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🧭 Risk Management Lifecycle

1️⃣ Risk Identification

Identification of:

• Technology risks
• Security control weaknesses
• Operational vulnerabilities
• Compliance gaps
• Access and logging issues

2️⃣ Risk Assessment

Evaluation based on:

• Likelihood
• Business impact
• Regulatory exposure
• Operational disruption
• Financial implications

3️⃣ Control Evaluation

Assessment of:

• Existing security controls
• Preventive controls
• Detective controls
• Compensating controls

4️⃣ Residual Risk Analysis

Analysis of remaining risk after existing controls are considered.

5️⃣ Risk Treatment

Possible treatment strategies:

• Mitigate
• Transfer
• Accept
• Avoid

6️⃣ Governance & Reporting

Structured risk reporting for:

• Security teams
• IT stakeholders
• Audit teams
• Business leadership

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📋 Framework Alignment

This project references concepts aligned with:

• ISO 27001
• NIST Cybersecurity Framework (CSF)
• CIS Controls
• HIPAA Security Principles

The project focuses on governance and risk management concepts rather than deep technical implementation. :contentReference[oaicite:0]{index=0}

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📊 Sample Risk Categories

Risk Domain	Example Risk
Identity & Access Management	Excessive privileged access
Logging & Monitoring	Incomplete audit logging
Vulnerability Management	Unpatched critical systems
Third-Party Risk	Vendor security gaps
Data Protection	Sensitive data exposure
Incident Governance	Weak escalation processes

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🧪 Example Deliverables

This repository may include:

• Risk register templates
• Risk scoring methodologies
• Residual risk analysis
• Governance reporting examples
• Control assessment documentation
• Risk treatment tracking

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📁 Repository Structure

Risk-Management-Framework
│
├── docs
│   └── risk-scoring-methodology.md
│
├── samples
│   └── control-gap-assessment.md
│
├── templates
│   └── risk-register-template.md
│
└── README.md

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📌 Key Deliverables

Deliverable	Purpose
Risk Register Template	Structured cyber risk tracking
Risk Scoring Methodology	Risk prioritization framework
Control Gap Assessment	Control weakness evaluation
Governance Documentation	Audit and compliance support

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🛡️ Governance Perspective

This project approaches cybersecurity from a governance and risk lens rather than purely technical execution.

The focus is on:

• Accountability
• Control maturity
• Audit defensibility
• Business-aligned risk communication
• Risk-informed decision-making

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👨‍💼 Intended Audience

This repository is relevant for:

• Cyber Risk professionals
• Technology Risk teams
• GRC analysts
• IT Audit professionals
• Security governance stakeholders
• Compliance-focused environments

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📌 Disclaimer

This project is intended for educational, portfolio, and governance demonstration purposes only.