The Information Security Risk Assessment Policy serves as a foundational document for organizations operating in the Philippines to systematically identify, evaluate, and manage information security risks. This policy is essential for compliance with Philippine regulations, particularly the Data Privacy Act of 2012 (RA 10173), the Cybercrime Prevention Act (RA 10175), and National Privacy Commission directives. It is designed to be implemented when organizations need to establish or update their information security risk management framework, ensuring consistent and comprehensive risk assessment practices across all organizational units. The policy includes detailed procedures, roles and responsibilities, assessment methodologies, and reporting requirements, while accounting for both local regulatory requirements and international security standards such as ISO 27001.
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Key Requirements PROMPT example:
Information Security Risk Assessment Policy
"I need an Information Security Risk Assessment Policy for our Philippines-based financial services company that complies with BSP Circular 982 and includes specific provisions for cloud service providers, targeting implementation by March 2025."
1. Purpose and Scope: Defines the objectives of the policy and its applicability within the organization
2. Definitions: Detailed explanations of technical terms, concepts, and abbreviations used throughout the policy
3. Roles and Responsibilities: Defines key stakeholders and their responsibilities in the risk assessment process
4. Risk Assessment Framework: Outlines the methodology and approach for conducting information security risk assessments
5. Risk Assessment Process: Step-by-step procedures for conducting risk assessments, including identification, analysis, and evaluation
6. Risk Treatment: Guidelines for risk response strategies and implementation of controls
7. Documentation Requirements: Specifications for recording and maintaining risk assessment records
8. Review and Monitoring: Procedures for ongoing monitoring and periodic review of risk assessments
9. Compliance and Reporting: Requirements for internal and external compliance reporting
10. Policy Review: Timeline and process for reviewing and updating the policy
1. Cloud Security Assessment: Specific procedures for assessing cloud-based services and applications, required if organization uses cloud services
2. Third-Party Risk Assessment: Procedures for assessing risks associated with vendors and third-party service providers, needed if organization relies on external providers
3. Industry-Specific Requirements: Additional requirements based on specific industry regulations (e.g., healthcare, financial services)
4. International Data Transfer: Specific risk assessment requirements for international data transfers, needed if organization operates across borders
5. Special Categories of Data: Additional assessment requirements for sensitive data categories as defined in the Data Privacy Act
1. Risk Assessment Templates: Standardized templates for conducting and documenting risk assessments
2. Risk Matrix: Template for risk evaluation matrix including impact and likelihood scales
3. Control Framework: Detailed list of security controls and their mapping to identified risks
4. Assessment Checklist: Comprehensive checklist for conducting risk assessments
5. Compliance Requirements: Detailed listing of applicable laws, regulations, and standards
6. Incident Response Integration: Guidelines for integrating risk assessment findings with incident response procedures
7. Risk Assessment Schedule: Timeline and frequency of regular risk assessments for different systems and processes
Authors
Relevant legal definitions
Access Control
Asset
Audit Trail
Authentication
Authorization
Availability
Breach
Confidentiality
Control Measure
Cybersecurity
Data Classification
Data Controller
Data Processor
Data Subject
Information Asset
Information Security
Information Security Event
Information Security Incident
Information System
Integrity
Impact Assessment
Likelihood
Material Risk
Mitigation
Non-compliance
Personal Information
Privacy Impact Assessment
Residual Risk
Risk
Risk Acceptance
Risk Analysis
Risk Assessment
Risk Avoidance
Risk Criteria
Risk Evaluation
Risk Level
Risk Management
Risk Matrix
Risk Owner
Risk Register
Risk Treatment
Security Controls
Sensitive Personal Information
Threat
Threat Actor
Vulnerability
Vulnerability Assessment
Asset
Audit Trail
Authentication
Authorization
Availability
Breach
Confidentiality
Control Measure
Cybersecurity
Data Classification
Data Controller
Data Processor
Data Subject
Information Asset
Information Security
Information Security Event
Information Security Incident
Information System
Integrity
Impact Assessment
Likelihood
Material Risk
Mitigation
Non-compliance
Personal Information
Privacy Impact Assessment
Residual Risk
Risk
Risk Acceptance
Risk Analysis
Risk Assessment
Risk Avoidance
Risk Criteria
Risk Evaluation
Risk Level
Risk Management
Risk Matrix
Risk Owner
Risk Register
Risk Treatment
Security Controls
Sensitive Personal Information
Threat
Threat Actor
Vulnerability
Vulnerability Assessment
Clauses
Purpose and Objectives
Scope
Policy Statement
Roles and Responsibilities
Risk Assessment Methodology
Risk Identification
Risk Analysis
Risk Evaluation
Risk Treatment
Control Implementation
Monitoring and Review
Documentation Requirements
Compliance
Reporting Requirements
Audit Requirements
Data Classification
Security Controls
Incident Response
Change Management
Training and Awareness
Third Party Management
Access Control
Data Protection
Business Continuity
Policy Review
Enforcement
Non-Compliance
Exceptions Management
Scope
Policy Statement
Roles and Responsibilities
Risk Assessment Methodology
Risk Identification
Risk Analysis
Risk Evaluation
Risk Treatment
Control Implementation
Monitoring and Review
Documentation Requirements
Compliance
Reporting Requirements
Audit Requirements
Data Classification
Security Controls
Incident Response
Change Management
Training and Awareness
Third Party Management
Access Control
Data Protection
Business Continuity
Policy Review
Enforcement
Non-Compliance
Exceptions Management
Relevant Industries
Financial Services
Healthcare
Technology
Telecommunications
Government
Education
Retail
Manufacturing
Professional Services
Insurance
Banking
E-commerce
Business Process Outsourcing
Energy and Utilities
Relevant Teams
Information Security
IT Operations
Risk Management
Compliance
Internal Audit
Legal
Data Protection
IT Governance
Security Operations
Enterprise Architecture
Project Management Office
Human Resources
Executive Leadership
Relevant Roles
Chief Information Security Officer
Information Security Manager
Risk Management Officer
Data Protection Officer
IT Security Analyst
Compliance Manager
Security Operations Manager
IT Audit Manager
Information Security Architect
Risk Assessment Specialist
Privacy Officer
IT Governance Manager
Security Controls Assessor
Chief Technology Officer
Chief Risk Officer
Find the exact document you need
Information Security Risk Assessment Policy
An internal policy document outlining information security risk assessment procedures and compliance requirements under Philippine law and regulations.
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