Our IT risk management focuses on identifying, quantifying, and prioritizing risks, the goal of risk management is to manage the risks across the organization. Risk management is an ongoing process and consists of multiple phases.

We have several approaches to mitigating IT risk, among which include technical and non-technical approaches. Awareness training, for example, is considered a non-technical approach. Organizations may install firewalls (as a technical approach) at their gateway to limit unauthorized users from accessing their networks. Another example would be enabling Transmission Layer Security (TLS) on transactions, in order to make the transaction go over a secure port, such as port 443. Transferring risk, on the other hand, signifies sharing with another party the adversity of loss or the privilege of gain, from a risk.

IT risk management is a component of business risk management that must be performed on an ongoing basis. It is critical for an organization to continuously examine the risks and security objectives within its business environment, and systematically bake protection into the way it operates.

As business risks continue to increase, organizations are finding it necessary to implement some sort of formal risk management system. An effective risk management system can help organizations manage their risks and maximize opportunities.

Our IT risk management system has been structured to manage risk across the organization through the use of a common risk management framework. This framework can vary widely among organizations but typically involves people, rules, and tools.

Tukool Consulting is aware that many organizations struggle with implementing ERM and identifying how, and at what level, to integrate it into their organization. Organizations often say they are already aware of the risks for their respective areas of the business. In these situations, we have developed innovative risk management solution tailored to driving organizational success.

Our risk management system has the capability of;

  • Creating of a more risk focused culture for the organization.
  • Standardized risk reporting system
  • Improved focus and perspective on risk
  • Efficient use of resources
  • Effective coordination of regulatory and compliance matters.

Based on the above capabilities, we can enable better cost management and risk visibility related to operational activities. Our risk management approach enhance better management of organizational processes, competitive, and economic conditions of business environment, and increases leverage and consolidation of disparate risk management functions.