The Importance of Cyber Hygiene for Secure Data Destruction and Records & Information Management Service Providers Part 2 of 3

Preparing for a Security Risk Analysis

In the first part of this series, we examined the foundational importance of cyber hygiene for secure data destruction and records & information management (RIM) service providers. Cyber hygiene is essential in maintaining security and safeguarding client data, especially in an industry that handles sensitive and regulated information. The “Cyber Resilience Hygiene Guide” by Microsoft emphasizes that meeting minimum standards for cyber hygiene is essential for protecting against cyber threats, minimizing risk, and ensuring the ongoing viability of the business. In this second part, we’ll discuss the process and preparation required to conduct a Security Risk Analysis (SRA), a critical component of a strong cybersecurity posture.

A Security Risk Analysis allows service providers to identify and address vulnerabilities, measure existing controls, and implement practices that minimize the impact of potential cyber threats. Given the rise of increasingly sophisticated attacks, an SRA is not optional but essential. Here’s how your organization can prepare for a practical Security Risk Analysis.

1.Understanding the Scope and Purpose of an SRA

Before starting a Security Risk Analysis, it’s vital to understand its scope and objectives. An SRA aims to identify vulnerabilities and assess potential threats to an organization’s information assets, processes, and systems. The analysis should focus on data handling, storage, disposal, and transfer risks in secure data destruction and RIM services.

At a minimum the scope should cover:

• Digital Assets: Client records, internal databases, and digital repositories.

• Physical Assets: Workstations, storage media, shredders, and secure disposal facilities.

• People: Employees, contractors, and third-party vendors handling data.

• Processes: Data handling procedures, chain of custody protocols, and security controls.

Each area brings specific risks, and a comprehensive SRA will help map out an organization’s entire spectrum of threats. Incorporating these assets into the SRA ensures a thorough understanding of your digital environment and allows for better prioritization of security measures. It’s also beneficial to keep asset inventories regularly updated to reflect changes in technology or operational needs.

2.Assemble a Cross-Functional Team

To prepare for an SRA, bring together a cross-functional team of employees who understand the different facets of your organization. For a successful analysis, the team should include members from:

• Owners & Senior Leadership: To provide strategic oversight and ensure security initiatives align with business objectives.

• In-house or Outsourced IT: To assess technical vulnerabilities and security controls.

• Operations: To ensure alignment with data handling and destruction processes.

• Compliance & Legal: To maintain regulatory adherence.

• Human Resources: To provide insights into employeerelated risks, such as access control.

A diverse team is vital for a Security Risk Assessment (SRA) because it brings diverse perspectives, skills, and knowledge to the process. Cybersecurity risks affect nearly every part of an organization, and each department interacts with digital assets differently.

3.Inventory Your Assets

A comprehensive inventory is fundamental to an effective SRA. Begin by cataloging all assets related to data handling and secure data destruction, including:

• Hardware: Workstations, servers, data shredders, and mobile devices.

• Software: Digital tools and applications used for data processing and tracking.

• Network Infrastructure: Firewalls, routers, and any internet-connected devices.

• Data: Types, locations, and sensitivity levels for all data handled.

• Physical Storage: Facilities, locked storage areas, and physical records.

Inventorying digital assets is a fundamental part of a Security Risk Assessment (SRA) because it provides a comprehensive understanding of what needs to be protected, how these assets are used, and the potential vulnerabilities each asset may introduce.

4.Define and Prioritize Threats

Identifying threats relevant to the RIM and data destruction industry is a critical preparatory step. Typical threats may include:

• Cyber Attacks: Malware, phishing, ransomware, and denial-of-service (DoS) attacks.

• Insider Threats: Unauthorized access or malicious actions by employees or contractors.

• Data Breaches: Unauthorized access to client information, either digital or physical.

• Physical Security Threats: Theft or tampering with physical media.

• Third-Party Risks: Vulnerabilities arising from vendors or service providers with access to sensitive data.

Each threat must be ranked based on its likelihood of occurrence and potential impact. First, focus on high-priority threats, especially those that could lead to significant financial, operational, or reputational damage.

5.Identify Regulatory and Industry Compliance Requirements

A strong SRA aligns with industry standards and regulations, ensuring your organization meets compliance requirements. Relevant frameworks might include:

• NIST Cybersecurity Framework (CSF): Provides guidelines for managing and reducing cybersecurity risk.

• ISO/IEC 27001: An international standard for information security management.

• COBIT (Control Objectives for Information and Related Technologies): Developed by ISACA for enterprise IT governance and management.

Identifying and adhering to these standards will shape your SRA, ensuring your organization is secure and compliant. Organizations can combine elements from multiple frameworks, tailoring a hybrid approach that fits their unique needs.

6.Evaluate Existing Security Controls

Review your organization’s existing security controls to assess their effectiveness. Key areas to evaluate include:

• Access Control: Are there policies to restrict access to data only to authorized personnel?

• Encryption: Is data encrypted at rest and in transit?

• Incident Response Plans: Does the organization have a formalized incident response plan for potential breaches or cyber incidents? Has that plan been tested by an outside third party?

• Training and Awareness: Are employees trained in cybersecurity best practices?

• Data Destruction Protocols: How is data disposed of, and are methods compliant with industry standards?

By regularly evaluating security controls, RIM service providers can effectively manage risk, maintain compliance, and build a reputation as trusted stewards of sensitive information. This process safeguards their operations and strengthens client relationships and market positioning.

7.Set Goals and Metrics for Cybersecurity

Defining clear objectives and measurable outcomes is critical when preparing for an SRA. Identify what you want to accomplish through the analysis and how you’ll measure success. Goals might include:

• Reducing Vulnerability: Aim to identify and mitigate a certain percentage of vulnerabilities within a set timeframe.

• Improving Response Time: Establish metrics to reduce detection and response times for security incidents.

• Employee Awareness: Increase the percentage of employees who pass cybersecurity training.

• Enhance Network and Endpoint Security: Detect the number of anomalies identified in network traffic that may indicate suspicious activity.

These goals and metrics provide a solid foundation for tracking the effectiveness of cybersecurity measures. Metrics should be tailored to align with specific organizational priorities, industry requirements, and risk tolerance levels. Consistent review and adjustments are also essential as the threat landscape evolves. Visualizing these metrics in dashboards or regular reports can help communicate cybersecurity posture to stakeholders and support decision-making.

8.Conduct a Preliminary Risk Assessment

Before launching into a full-scale SRA, conducting a preliminary risk assessment can be helpful. This will provide a snapshot of existing vulnerabilities and help guide the focus of the SRA. The preliminary assessment should focus on:

• Identifying Immediate Vulnerabilities: Any highrisk vulnerabilities discovered should be addressed immediately.

• Assessing Critical Assets: Identify and evaluate risks to high-value assets.

• Gathering Employee Feedback: Engage employees to understand security pain points or process gaps.

A preliminary SRA helps organizations focus their security efforts, allocate resources effectively, and establish a roadmap for ongoing risk management. It’s an essential step in proactive, strategic cybersecurity planning.

9.Document Processes and Collect Evidence

Documentation is an essential preparatory step in an SRA, as it provides a detailed overview of current practices and can uncover areas of improvement. Essential documentation should include:

• Access Logs: To review who has accessed sensitive data or facilities.

• Network Logs: To analyze potential vulnerabilities in your network infrastructure.

• Incident Reports: To examine past security events and identify patterns.

• Policies and Procedures: Document existing protocols for data handling, access control, and incident response.

Documentation is the backbone of an effective SRA. It provides structure, clarity, and a thorough understanding of the organization’s security environment, enabling assessors to conduct a more accurate, efficient, and insightful assessment. Proper documentation makes the SRA process smoother and lays the groundwork for informed risk management decisions and continuous improvement in security practices.

10. Develop a Risk Management Strategy

Finally, a core part of preparing for an SRA is to outline your organization’s risk management strategy. This should cover:

• Risk Tolerance: Define what level of risk is acceptable to your organization, especially considering the sensitive nature of the data managed.

• Risk Mitigation Techniques: Document techniques to reduce risk, including technical and administrative controls.

• Response and Recovery Plans: Outline steps to respond to and recover from a cyber incident, including how data destruction is handled post-breach.

• Continuous Monitoring: Implement a system for ongoing threat monitoring to keep track of emerging vulnerabilities.

A risk management strategy is vital because it provides a structured, ongoing approach to securing the organization, minimizing potential damage, and fostering a proactive and resilient operational environment. It enables the organization to thrive while navigating risks confidently and responsibly.

Conclusion

As 2025 approaches, the role of RIM service providers in safeguarding sensitive information has never been more critical. Preparing for a security risk analysis is not just about compliance; it is about demonstrating a proactive commitment to protecting client data and maintaining trust. While the initial effort may seem daunting, the process ensures that vulnerabilities are addressed before they escalate into costly breaches, operational disruptions, or reputational damage.

Contrary to common misconceptions, enhancing information security does not have to strain financial resources. By prioritizing key areas such as risk assessment, employee training, and scalable technology solutions, RIM providers can implement effective measures that fit within their budgets. This strategic approach emphasizes that security is an investment, not a cost, delivering long-term benefits such as stronger client relationships, operational resilience, and a competitive edge in an increasingly security-conscious market.

In the final part of this series, we will discuss how you can use the results of your SRA to differentiate your organization from the competition. Together, these steps will reinforce clients’ trust in your service and protect against the evolving landscape of cybersecurity threats.

About The Author

Joseph P. Harford, Ph.D., CSDS Founder and President Reclamere Chair, Americas Advocacy Committee

Joe Harford is the Founder and President of Reclamere, a leading cybersecurity firm based in Pennsylvania. With a keen focus on sales and operations, Joe is passionate about implementing innovative security solutions and fostering client trust. Beyond business, Joe is dedicated to reducing prison recidivism in Pennsylvania and enjoys spending his free time with his wife Karen, boating and hiking.