Enterprise Security Risk Management (ESRM) is one of the most important initiatives undertaken by ASIS designed to change the function of the security guard industry and all private security guards. Its philosophy encourages companies to recognize that security-related tasks can affect all departments. Instead of thinking about security as an afterthought, we encourage you to think of it as a proactive way to make your organization more resilient by protecting what keeps you running.
Enterprise Security Risk Management: What is it?
Enterprise Security Risk Management, as the name suggests, is the management process used to effectively manage security risks across the enterprise, both proactively and reactively. It is designed to continuously assess the full range of security-related risks to an organization and within a company’s complete asset portfolio.
ASIS Board Member John Petruzzi defines ESRM as “a security program management approach that ties security activities to corporate mission and business objectives through risk management methods.” He further defined the security his leader’s role in ESRM as a person who “works with business his leaders whose assets are at risk to manage the risk of harm to corporate assets.”
What is ESRM’s vision, mission and goals?
- Vision: We enable businesses to advance their mission by helping organizations manage the protection of their assets across the enterprise.
- Mission: Provides consistent identification, assessment, and treatment of security risks to reduce potential business impact and prioritize protection activities.
- goal: Establish organizational policies, procedures, best practices, and capabilities to identify and manage security risks to your enterprise in an effective, consistent, and efficient manner.
Understand the nature of ESRM:
The overarching goal of enterprise security risk management is to develop a compact approach so that you can recognize and remediate the hazards and risks that affect your organization. Since ESRM is dynamic, we have elaborated on various concepts related to it to understand its nature.
ESRM – Philosophy or Theory: Everyone wants to know whether enterprise security risk management is a theoretical concept or a philosophical view. Well, the answer is very simple. ESRM does not consist of complicated rules to follow. Provides a philosophical perspective to help manage security. It empowers leaders in the security agency space to manage security risks.
This feature is not based on current incidents where the lives of private security guards are in danger. The whole concept is based on a common understanding of considering different types of upcoming risks that business organizations can accept in different areas. The focus is entirely on the business, as security and business risks are closely related to each other.
ESRM is not only a philosophy, it is also a process.
This philosophical conception is followed by a four-step process. Here is the process:
- First, enterprise security risk management identifies valuable assets that need protection.
- Next, identify the security threats facing your organization and its assets.
- The third step is to take realistic, necessary, and appropriate steps to remediate the security threat.
- The fourth step is very important here, as we monitor incidents and conduct incident response and post-incident reviews.
Fit for your business:
The most important aspect of enterprise security risk management is that it is fully aligned with business requirements. In other words, it should be noted that this adjustment is possible because ESRM gets guidance and governance from business organizations.
Who Benefits from Enterprise Security Risk Management?
Let’s face it, enterprise security risk management benefits everyone in every role, in every industry. It should be fully integrated into corporate processes by all security risk professionals at all levels of the business.
Nevertheless, if you are looking for a specific list of audiences who can be involved in identifying, understanding, and/or managing security risks, they include:
- Executive & Manager
- security officer
- Audit and Risk Professional
Effective enterprise security risk management cannot rest solely on the shoulders of corporate security departments and the security guard industry. The program should be built on a culture of managing security risks. This culture follows a common approach to risk management practices by both parties.
Integrating the overall security guard industry culture with overall business objectives is the ultimate responsibility of all business leaders in the company. This holistic approach, when thoroughly implemented and consistently practiced, can change the way any organization views its security capabilities.
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