Information Security Risk Assessment Template

This document is an Information Security Risk Assessment Template created by Alex Arda Akyuz, M.S. and CyberFX Secure for its SecureLearn platform. It provides small and mid-sized businesses (SMBs) with a structured framework to identify, analyze, and treat cybersecurity risks.

The template is organized into several key functional sections:

Foundational Assessment Data

• Executive Summary & Overview: Provides a high-level narrative of the assessment's purpose, major findings, and the organization's current risk posture.

• Asset Inventory: Includes a catalog for tracking hardware, software, data, and personnel, along with their criticality ratings (Critical, High, Medium, Low).

Risk Identification & Analysis

• Threat & Vulnerability Assessment: Offers a threat catalog covering external cyber threats, human error, physical threats, and third-party risks. It includes a vulnerability assessment table to document weaknesses like lack of MFA or unpatched software.

• Risk Scoring Matrix: Utilizes a formula where Risk Score = Likelihood × Impact. Risks are rated on a scale from Very Low (1-2) to Critical (20-25).

Risk Management & Treatment

• Risk Register: Acts as the master record for all identified risks, documenting their scores, assigned owners, and current status.

• Treatment Strategies: Outlines four primary responses to risk: Mitigate (Reduce), Accept (Tolerate), Transfer (Share), or Avoid (Terminate).

• Residual Risk Evaluation: A process for reassessing risks after controls are implemented to ensure they fall within the organization's acceptable threshold.

Governance & Compliance

• Approval & Review: Includes a schedule for annual full assessments and monthly high-risk reviews, alongside a formal sign-off section for leadership.

• Appendices: Features a glossary of technical terms and references to major industry standards such as NIST CSF 2.0, ISO 27001, HIPAA, and GDPR.