What is an Information Security Policy (ISP), and why is it imperative to create this policy for your company?
Policy and Procedures exist to give guidance, standardization and accountability. An information security policy directs your organization by applying principles and practices to stakeholders to ensure your information remains safe and that resources are available for end users and customers.
Let’s jump into some of the details of an ISP.
Data Protection: Technology lives and dies by protocols. The same is true when protecting the information that resides within technology. Most sensitive data revolve around Personal Identifiable Information, better known as PII. Your organization should prioritize preventing bad actors from accessing this information via a data breach. Does your organization use least privilege access to manage user access to critical information?
Compliance: What are your regulatory body's requirements regarding information security? Setting and following guidelines by policy enforces and proves that your organization understands the rules and regulations and has that information documented for employees to follow. Ignoring the rules may have devastating penalties, such as fines and loss of accreditation.
Risk Assessment: Using an ISP to define required risk assessments will help your organization understand the overall risk appetite your board or leadership team is willing to accept. Examples of risk assessments include physical security, insider threat, IT security, cybersecurity and ransomware. Research each listed risk assessment; many assessments are free.
Incident Response: Though Incident Response can be its own segregated policy, organizations may include a dedicated section of the ISP strictly for information security incidents. Incidents range from a minor finding that requires a minimum response to a full-fledged nightmare scenario that includes ransomware or a major PII breach. Preplanning and documenting how to handle those situations will cut confusion and response times. It’s best practice to use tabletop exercises to implement those plans and find the weak spots in your policy.
Business Continuity Plan (BCP): To follow Incident Response, a Business Continuity Plan takes over once a significant incident occurs. How would your company survive without high-priority systems for a week or a month in a ransomware attack? BCP fleshes out a detailed plan for performing system recovery, including who to contact at your insurance company, FBI, and local resources.
Awareness and Training: In recent years, it has become a high priority for organizations to train employees on best practices and the threat of social engineering. Placing information in the ISP that enforces training can reduce the risk of your organization being a victim of phishing or other social engineering attempts. Invest in phishing programs for your employees with the support of leadership.
Vendor and Partner Relations: It is a misconception that your organization can displace liability on its vendors and partners. When a vendor or partner is part of a breach, the organization that shared the information with their vendor is held liable. Creating a vendor and partner program within the ISP with an annual review is crucial in identifying a reliable partnership. Review new possible vendors and do your due diligence to verify the new vendor is trustworthy of your company and customer's information.
An Information Security Policy begins a framework that your organization can grow annually. Start one today if your policy and procedure library is missing this crucial document.
Consider your critical devices, services and customers and how to safeguard your organization. Bring essential leadership and stakeholders into the conversation and gain insight into workflows and business continuity. Be prepared; it’s not if it will happen, but when it will happen.
