Improving Banksia’s Cyber Resilience

Running Head: IS/IT Risk Management 0
IS/IT Risk Management
Executive Briefing Paper
Student name

IS/IT Risk Management 1
For Senior Executive Team of Banksia Pathology
Improving Banksia’s Cyber Resilience as an Executive/Board-level Responsibility
May 5, 2019
Executive Summary
The Information System (IS) requires for managing different operations of company. In addition, it is the
best way to manage different business processes of company in an efficient way. Banksia Pathology has
different departments in their labs. The company has many data of their customers and business
processes, such as payment details. Therefore, it is necessary to implement proper security and privacy
of their data and information using cyber security.
This executive briefing paper will describe about the improvement in Banksia’s cyber security and
resilience of it. The company can find different risk of their system and make proper risk management
and control to avoid huge losses to the organization.

IS/IT Risk Management 2
Table of Contents
Executive Summary.....................................................................................................................................1
Introduction.................................................................................................................................................3
Importance of cyber security in Banksia:.....................................................................................................3
Management of Cyber security Risks.......................................................................................................5
Resilience and Preparedness...................................................................................................................6
Improving Banksia’s Cyber Resilience..........................................................................................................7
Key aspects of IS/IT Risk Management........................................................................................................8
Legislative Proposals and Actions............................................................................................................8
Recommendations.......................................................................................................................................9
Conclusion...................................................................................................................................................9
References.................................................................................................................................................11

IS/IT Risk Management 3
Introduction
Information System is base of a company to manage their different operations, such as purchase, billing,
payroll, and customer’s records. It provides better facility to manage different resources in proper way
with high performance. Cyber security is necessary to secure data and information of company at their
computer systems and information systems. Most of the countries are created rule and regulations for
data and information security, such as Australia, China, India, UK, USA, and many others (ACSC,
Australian Cyber Security Centre, 2017). The Australian government and ACSC provide eight strategies to
mitigate cyber security incidents, such as cyber-attacks, spamming, and many more (ACSC, Strategies to
Mitigate Cyber Security Incidents, 2019). This executive briefing paper will describe about the role of
cyber security in a company and its benefits to the company in long-terms. It will also provide
recommendation for Banksia Pathology to improve their cyber security and make it better to secure
their resources and data.
Importance of cyber security in Banksia:
A macro level company is having a huge amount of data from different business processes. Therefore, it
is necessary to use cyber security to protect their data and information at their computer systems and
other information systems, such as Management Information System (MIS), Decision Management
System (DMS), Transaction Management System (TMS), and many others. Therefore, the company must
evaluate their cyber security risk to protect their intellectual properties from cyber-attacks (Andrijcic &
Horowitz, 2016, p. 907). According to (Arlitsch & Edelman, 2014, p. 46), always stay safe from cyber-
attacks using proper cyber security of information systems. In addition, cyber security can secure
reputation of the organization from different types of cyber-crimes, such as data breaches, ransom, and
many others.
The company should make a risk ranking based on their effects on the operations and make proper risk
controls to mitigate those risks in proper way, if they occur in the system (Baccarini & Archer, 2001, p.
139). There are different types of risks are present in the information systems, which are happened
because of different types of vulnerabilities in the system. Therefore, it is necessary to find
vulnerabilities of the system and make them fix using proper risk management (Bird, 2018).