Security Risk Assessment

What to Expect in a Security Risk Assessment

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Security threats are no longer a distant possibility, they’re a daily reality. Whether it’s a phishing email, a misconfigured firewall, or an untrained employee clicking the wrong link, vulnerabilities can appear anywhere. That’s why conducting a Security Risk Assessment (SRA) is no longer optional, it’s essential.

But what exactly happens during a security risk assessment? If the term sounds intimidating or overly technical, don’t worry. The process is designed to uncover risks, evaluate their impact, and help your organization build a stronger, more resilient security posture. Whether you’re in healthcare, finance, retail, or any other industry, understanding what to expect can help you prepare, participate, and act on the results effectively.

This article breaks down the key phases of a security risk assessment, demystifies the process, and shows you how it can empower your organization to make smarter, safer decisions.

  1. Initial Planning & Scope Definition

The process begins by defining the scope:

  • What systems, data, and operations are being assessed?
  • Are you focusing on physical security, cybersecurity, or both?
  • What regulations or standards (e.g., HIPAA, ISO 27001, NIST) apply?

This phase sets the foundation for a targeted and efficient assessment.

  1. Asset Inventory

You’ll need to identify and document:

  • Hardware (servers, laptops, mobile devices)
  • Software (applications, databases)
  • Data (especially sensitive or regulated information)
  • People (roles with access to critical systems)

This helps determine what needs protection and where vulnerabilities may exist.

  1. Threat & Vulnerability Identification

Expect a deep dive into:

  • External threats (hackers, malware, phishing)
  • Internal threats (employee negligence, insider attacks)
  • Environmental risks (natural disasters, power outages)

Tools like vulnerability scanners, penetration tests, and interviews may be used to uncover weaknesses.

  1. Risk Analysis & Evaluation

Each identified risk is analyzed based on:

  • Likelihood of occurrence
  • Impact on operations, data, and reputation

This helps prioritize which risks need immediate attention versus long-term mitigation.

  1. Control Review

Assessors will evaluate your current safeguards:

  • Technical controls (firewalls, encryption, access controls)
  • Physical controls (locks, surveillance, badge systems)
  • Administrative controls (policies, training, incident response plans)

They’ll determine if these controls are adequate or need improvement.

  1. Recommendations & Remediation Planning

You’ll receive a report outlining:

  • Key findings
  • Risk levels
  • Recommended actions (e.g., patching systems, updating policies, training staff)

This is your roadmap for reducing risk and improving security posture.

  1. Follow-Up & Continuous Improvement

Security risk assessments aren’t one-and-done. Expect:

  • Regular reassessments (annually or after major changes)
  • Monitoring of implemented controls
  • Updates to documentation and training

This ensures your organization stays ahead of evolving threats.

Final Thoughts & Next Steps

A security risk assessment is a proactive step toward protecting your organization. By knowing what to expect, you can engage stakeholders, allocate resources wisely, and build a culture of security that supports long-term success.

Ready to get started?
👉 Work with your Account Manager or your Cybersecurity Expert to schedule and plan your Security Risk Assessment today.