Risk Process and Components

Make Your Risk Process Work for You

Managing cyber risk isn’t just about checking boxes — it’s about building a risk process that actually protects your business, your clients, and your reputation. At HALOCK, we help organizations turn risk management from a scattered set of tasks into a clear, repeatable process grounded in real-world priorities.

Whether you’re starting from scratch or looking to refine your current approach, we guide you through a tailored process using practical tools and proven frameworks. Because a good risk process doesn’t slow you down — it clears the path forward.

The Risk Process Framework: Built to Fit Your Needs

Your organization is unique — your risk process should be too. That’s why we use a flexible, component-based structure that aligns with your business goals, compliance needs, and security responsibilities. We build each step to flow into the next, giving your team clarity and confidence at every phase:

1. Asset Characterization

Before you can protect what matters, you need to know what you’ve got. We start by identifying your critical assets — systems, data, applications, and people — so your risk process targets what really needs defending.

2. Threat and Vulnerability Assessment

This is where things get real. We identify potential threats and vulnerabilities that could affect your assets. Our assessments are more than lists — they’re context-aware, helping you understand what’s most likely to cause harm and why.

3. Control Analysis

How strong are your defenses? We analyze your current controls to see how well they protect against identified threats. This helps prioritize which gaps need attention first, based on actual risk — not just best guesses.

4. Likelihood Determination

We weigh the odds. What’s the real chance that a threat could exploit a vulnerability? This part of the risk process combines data, expertise, and business context to give you a grounded understanding of potential events.

5. Impact Analysis

Not all incidents are created equal. Here, we explore the possible impact — financial, operational, legal, and reputational — if a threat were to hit. Knowing the stakes helps you prioritize what needs to be secured now vs. what can wait.

6. Risk Determination

This is where it all comes together. We help you determine your actual risk level by combining likelihood and impact — then compare that risk to what’s acceptable for your organization. If it’s too high, we work with you to bring it down.

7. Control Recommendations

Based on everything we’ve uncovered, we propose reasonable, tailored controls that reduce risk without creating unnecessary friction. Our recommendations aren’t just secure — they’re practical and business-aligned.

More Than a Checklist — A Living Process

A solid risk process isn’t something you do once. It’s a cycle. As your environment changes, threats evolve, and new technologies are introduced, your risk process needs to keep up. That’s why HALOCK’s approach is ongoing, adaptive, and built to grow with you.

We use frameworks like Duty of Care Risk Analysis (DoCRA) to ensure your risk decisions are defensible, reasonable, and aligned with your obligations — to your business, your customers, and the public.

Ready to Strengthen Your Risk Process?

Don’t just manage risk — own your risk process. HALOCK can help you build a smarter, more effective approach that gives your organization the clarity, confidence, and protection it deserves.

Let’s build your risk process the right way — together.