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Information Security Risk Assessment Policy
"I need an Information Security Risk Assessment Policy for our UK-based fintech startup that handles customer payment data, ensuring compliance with FCA regulations and incorporating cloud security considerations as we're primarily using AWS services."
1. Purpose and Scope: Defines the objectives of the policy, its applicability across the organization, and compliance requirements with relevant legislation including UK GDPR, DPA 2018, and NIS Regulations
2. Roles and Responsibilities: Outlines the responsibilities of key stakeholders including board members, information security team, department heads, and employees in the risk assessment process
3. Risk Assessment Methodology: Details the framework and approach used for assessing risks, including risk identification, analysis, and evaluation methods aligned with ISO 27001 and ISO 31000 standards
4. Risk Assessment Process: Step-by-step procedures for conducting risk assessments, including asset identification, threat analysis, vulnerability assessment, and impact evaluation
5. Risk Treatment: Procedures for risk response including acceptance, mitigation, transfer, or avoidance, and implementation of controls
6. Review and Monitoring: Requirements for ongoing monitoring, periodic review, and updating of risk assessments and treatment plans
1. Industry-Specific Requirements: Additional requirements for regulated industries such as financial services (FCA regulations) or healthcare sector-specific compliance needs
2. International Compliance: Requirements for international operations including EU GDPR compliance and international data transfer considerations
3. Cloud Security Considerations: Specific risk assessment procedures for cloud-based assets and services, including third-party risk management
1. Risk Assessment Template: Standardized template for documenting risk assessments including threat identification, vulnerability analysis, and impact assessment
2. Risk Matrix: Template for risk scoring and categorization, including likelihood and impact scales
3. Control Framework: Comprehensive list of security controls, their effectiveness ratings, and mapping to identified risks
4. Asset Register Template: Template for recording information assets, their classification, and ownership
5. Threat Catalogue: Reference list of common threats and vulnerabilities relevant to the organization's environment
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