What is an Information Security Management System (ISMS) | Centraleyes

Learn more: https://www.centraleyes.com/glossary/information-security-management-system/

An information security management system, or ISMS, involves putting policies, procedures and controls into writing to create an official system that instructs, monitors, and improves information security. An ISMS will also cover topics such as how to protect sensitive information from being stolen or destroyed, and detail all the mitigation necessary to achieve infosec goals.

The ultimate goal of an ISMS is to minimize risk to your organization’s information and ensure business continuity. ISMS goals include:
Protection of information – your priority will always be to protect your company’s or customers' information.
Meeting compliance requirements – Non-compliance with industry laws or regulations can end in costly legal fees, fines or reputation damage.
Maintaining Business Continuity – Having an information security plan in place will minimize damage, breaches, and long-lasting effects, and minimize loss of productivity.
Evidence of Information Security – A well-written and organized ISMS can verify that due diligence has been carried out and all efforts made to uphold high levels of security.
And, Cost-effectiveness as a result of prioritized remediation efforts, effective use of resources, and efficient investments.

The ISO 27000 series are ideal frameworks to use for creating ISMS plans. They are flexible and built for all types of organizations and all sizes. The two most popular standards are ISO 27001 and ISO 27002. They establish the procedures and requirements for creating an information security management plan.
The first step, as in any project, is to define your scope. Decide which part of your organization necessitates an ISMS, according to compliance requirements, safety and security.

Step 2: Information Security Risk Assessment
A thorough infosec risk assessment is necessary. Prior to detailing the required policies and mitigation measures, also known as “internal controls”, it is important to be able to recognize the complete spectrum of risks that the business and its data may encounter in the near future.
An information security risk assessment will assess the effectiveness of your current system, determine security gaps, identify vulnerabilities, and give you an overall picture of the work that needs to be done to achieve the necessary level of information security you’re aiming for.

Step 3: Determine and build policies, procedures, processes, and workflows, and implement controls to further the company’s data security objectives.
The right organizational and technical measures for risk avoidance or mitigation must then be chosen and put into place based on the prior risk assessment. This is where the Information Security frameworks come in handy. Clearly identifying roles and responsibilities is another aspect of this.

Step 4: Testing!
Review the controls, policies and procedures to ensure they are achieving their purpose! The ISMS process must be repeated if the review of the implemented measures shows flaws or new risks have been discovered. This allows the ISMS to be regularly adjusted to new circumstances or requirements, enhancing information security inside the organization.

Consider using a cybersecurity management platform that automatically leads you through a thorough cyber risk assessment, lays out the results for easy quick analysis and prioritization, and keeps you compliant with relevant laws and regulations.
Using a modern cybersecurity management tool, such as Centraleyes, ensures you’ll produce a rigorous and robust information security management plan. These tools will automate data collection and analysis, generate reports for informed decision-making, and leverage remediation insights and actionable steps.

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Learn more: https://www.centraleyes.com/glossary/information-security-management-system/

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