Security management is the identification of an organization's assets (including people, buildings, machines, systems and information assets), followed by the development, documentation, and implementation of policies and procedures for protecting assets.
Loss prevention focuses on what one's critical assets are and how they are going to protect them. A key component to loss prevention is assessing the potential threats to the successful achievement of the goal. This must include the potential opportunities that further the object (why take the risk unless there's an upside?) Balance probability and impact determine and implement measures to minimize or eliminate those threats.[2]
Security risk management
The management of security risks applies the principles of risk management to the management of security threats. It consists of identifying threats (or risk causes), assessing the effectiveness of existing controls to face those threats, determining the risks' consequence(s), prioritizing the risks by rating the likelihood and impact, classifying the type of risk, and selecting an appropriate risk option or risk response. In 2016, a universal standard for managing risks was developed in The Netherlands. In 2017, it was updated and named: Universal Security Management Systems Standard 2017.
Types of risks
External
Strategic: Competition and customer demand.
Operational: Regulations, suppliers, and contract.
Financial: FX and credit.
Hazard: Natural disasters, cyber, and external criminal acts.
Compliance: New regulatory or legal requirements are introduced, or existing ones are changed, exposing the organization to a non-compliance risk if measures are not taken to ensure compliance.
Internal
Strategic: R&D.
Operational: Systems and processes (H&R, Payroll).
Financial: Liquidity and cash flow.
Hazard: Safety and security; employees and equipment.
Compliance: Concrete or potential changes in an organization's systems, processes, suppliers, etc. may create exposure to a legal or regulatory non-compliance.
Risk options
Risk avoidance
The first choice to be considered is the possibility of eliminating the existence of criminal opportunity or avoiding the creation of such an opportunity. When additional considerations or factors are not created as a result of this action that would create a greater risk. For example, removing all the cash flow from a retail outlet would eliminate the opportunity for stealing the money, but it would also eliminate the ability to conduct business.
Risk reduction
When avoiding or eliminating the criminal opportunity conflicts with the ability to conduct business, the next step is reducing the opportunity of potential loss to the lowest level consistent with the function of the business. In the example above, the application of risk reduction might result in the business keeping only enough cash on hand for one day's operation.
Risk spreading
Assets that remain exposed after the application of reduction and avoidance are the subjects of risk spreading. This is the concept that limits loss or potential losses by exposing the perpetrator to the probability of detection and apprehension prior to the consummation of the crime through the application of perimeter lighting, barred windows, and intrusion detection systems. The idea is to reduce the time available for thieves to steal assets and escape without apprehension.
Risk transfer
The two primary methods of accomplishing risk transfer is to insure the assets or raise prices to cover the loss in the event of a criminal act. Generally speaking, when the first three steps have been properly applied, the cost of transferring risks is much lower.
Risk acceptance
All of the remaining risks must simply be assumed by the business as a part of doing business. Included with these accepted losses are deductibles, which have been made as part of the insurance coverage.
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For the magazine see Security Management magazine This article includes a list of general references but it lacks sufficient corresponding inline citations Please help to improve this article by introducing more precise citations August 2011 Learn how and when to remove this template message Security management is the identification of an organization s assets including people buildings machines systems and information assets followed by the development documentation and implementation of policies and procedures for protecting assets An organization uses such security management procedures for information classification threat assessment risk assessment and risk analysis to identify threats categorize assets and rate system vulnerabilities 1 Contents 1 Loss prevention 2 Security risk management 2 1 Types of risks 2 1 1 External 2 1 2 Internal 2 2 Risk options 2 2 1 Risk avoidance 2 2 2 Risk reduction 2 2 3 Risk spreading 2 2 4 Risk transfer 2 2 5 Risk acceptance 3 Security policy implementations 3 1 Intrusion detection 3 2 Access control 3 3 Physical security 3 4 Procedures 4 See also 5 References 6 Further readingLoss prevention EditMain article Loss prevention Loss prevention focuses on what one s critical assets are and how they are going to protect them A key component to loss prevention is assessing the potential threats to the successful achievement of the goal This must include the potential opportunities that further the object why take the risk unless there s an upside Balance probability and impact determine and implement measures to minimize or eliminate those threats 2 Security risk management EditThe management of security risks applies the principles of risk management to the management of security threats It consists of identifying threats or risk causes assessing the effectiveness of existing controls to face those threats determining the risks consequence s prioritizing the risks by rating the likelihood and impact classifying the type of risk and selecting an appropriate risk option or risk response In 2016 a universal standard for managing risks was developed in The Netherlands In 2017 it was updated and named Universal Security Management Systems Standard 2017 Types of risks Edit External Edit Strategic Competition and customer demand Operational Regulations suppliers and contract Financial FX and credit Hazard Natural disasters cyber and external criminal acts Compliance New regulatory or legal requirements are introduced or existing ones are changed exposing the organization to a non compliance risk if measures are not taken to ensure compliance Internal Edit Strategic R amp D Operational Systems and processes H amp R Payroll Financial Liquidity and cash flow Hazard Safety and security employees and equipment Compliance Concrete or potential changes in an organization s systems processes suppliers etc may create exposure to a legal or regulatory non compliance Risk options Edit Risk avoidance Edit The first choice to be considered is the possibility of eliminating the existence of criminal opportunity or avoiding the creation of such an opportunity When additional considerations or factors are not created as a result of this action that would create a greater risk For example removing all the cash flow from a retail outlet would eliminate the opportunity for stealing the money but it would also eliminate the ability to conduct business Risk reduction Edit When avoiding or eliminating the criminal opportunity conflicts with the ability to conduct business the next step is reducing the opportunity of potential loss to the lowest level consistent with the function of the business In the example above the application of risk reduction might result in the business keeping only enough cash on hand for one day s operation Risk spreading Edit Assets that remain exposed after the application of reduction and avoidance are the subjects of risk spreading This is the concept that limits loss or potential losses by exposing the perpetrator to the probability of detection and apprehension prior to the consummation of the crime through the application of perimeter lighting barred windows and intrusion detection systems The idea is to reduce the time available for thieves to steal assets and escape without apprehension Risk transfer Edit The two primary methods of accomplishing risk transfer is to insure the assets or raise prices to cover the loss in the event of a criminal act Generally speaking when the first three steps have been properly applied the cost of transferring risks is much lower Risk acceptance Edit All of the remaining risks must simply be assumed by the business as a part of doing business Included with these accepted losses are deductibles which have been made as part of the insurance coverage Security policy implementations EditIntrusion detection Edit Alarm device Access control Edit Locks simple or sophisticated such as biometric authentication and keycard locks Physical security Edit Environmental elements ex Mountains Trees etc Barricade Security guards armed or unarmed with wireless communication devices e g two way radio Security lighting spotlight etc Security Cameras Motion Detectors IBNS containers for cash in transit Procedures Edit Coordination with law enforcement agencies Fraud management Risk Management CPTED Risk Analysis Risk Mitigation Contingency Planning See also EditAlarm management IT risk IT risk management ITIL security management an information security management system standard based on ISO IEC 27001 Physical security Retail loss prevention Security Security policyReferences Edit Manage IT Security Risk with a Human Element Dell com Retrieved 26 March 2012 From Security to Loss Prevention to Retail Asset Protection to Profit Enhancement 7 February 2017 Further reading EditBBC NEWS In Depth BBC News Home Web 18 Mar 2011 lt http news bbc co uk 2 shared spl hi guides 456900 456993 html gt Rattner Daniel Loss Prevention amp Risk Management Strategy Security Management Northeastern University Boston 5 Mar 2010 Lecture Rattner Daniel Risk Assessments Security Management Northeastern University Boston 15 Mar 2010 Lecture Rattner Daniel Internal amp External Threats Security Management Northeastern University Boston 8 April 2010 Lecture Asset Protection and Security Management Handbook POA Publishing LLC 2003 p 358 ISO 31000 Risk management Principles and guidelines 2009 p 7 Universal Security Management Systems Standard 2017 Requirements and guidance for use 2017 p 50 Security Management Training amp TSCM Training This article incorporates public domain material from Federal Standard 1037C General Services Administration in support of MIL STD 188 Retrieved from https en wikipedia org w index php title Security management amp oldid 1119762165, wikipedia, wiki, book, books, library,
