Advancing FAIR™ within Risk Management Programs from Coursera

This comprehensive course is designed to guide executives in effectively integrating the FAIR model into their cyber risk management programs, ensuring their strategies remain adaptable in the face of evolving threats. Participants will learn how to leverage FAIR to evaluate new technologies, enhance existing risk assessment frameworks, and build robust, effective risk management strategies. The course delves into the nuances of various risk management frameworks, distinguishing between technical and governance approaches. Additionally, participants will explore ancillary FAIR standards for controls, third-party risk, and automation, gaining insights into how these can complement and strengthen their overall risk management efforts. The course concludes with strategies for continuously improving cyber risk management programs, ensuring they evolve to meet emerging threats and organizational needs.

This course is tailored for senior executives and decision-makers overseeing or guiding cyber risk management within their organizations. Ideal participants will have:

Leadership and Strategic Oversight: Participants should hold or aspire to hold leadership roles such as Chief Executive Officer (CEO), Chief Information Security Officer (CISO), Chief Risk Officer (CRO), or senior management positions where they are responsible for setting and implementing risk management strategies.

Experience with Financial or Business Risk: Executives with experience managing financial risk or business continuity planning will find the course particularly valuable, as it covers the intersection of cyber risk and financial decision-making.

Commitment to Continuous Improvement: A mindset geared toward continuous improvement in risk management practices, willing to explore and adopt new methodologies, such as the FAIR model, to enhance their organization's cyber resilience.

This course will equip senior leaders with the practical skills and insights necessary to integrate the FAIR model into their organization’s broader risk management strategy, ensuring a more quantitative and business-aligned approach to managing cyber risks.

What's inside

Syllabus

Evolving Cyber Risk Management Programs

This module focuses on advancing cyber risk management programs through the FAIR model. Participants will learn how to integrate FAIR into existing frameworks, evaluate new technologies, and build effective risk management programs.

Ancillary FAIR Standards

This module delves into the ancillary standards associated with the FAIR framework, focusing on their practical applications in enhancing various aspects of risk management. Participants will explore the FAIR Institute's standards, including FAIR-CAM (Controls Analytics Model), FAIR-TAM (Third-Party Risk Management), and the automation of FAIR processes. The module provides insights into how these standards can be leveraged to improve risk evaluation, control effectiveness, and third-party risk management.

Continuous Improvement in Cyber Risk Management

This module is dedicated to advancing cyber risk management programs through continuous improvement using the FAIR model. Participants will learn how to define clear objectives, set risk tolerance levels, and effectively adopt the FAIR model within their organizations. The module emphasizes ongoing enhancement and adaptation of risk management strategies to ensure alignment with evolving business needs and risk landscapes.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Focuses on integrating the FAIR model into existing frameworks, which helps executives enhance their risk assessment and build effective risk management programs

Explores ancillary FAIR standards for controls, third-party risk, and automation, providing insights into how these can strengthen overall risk management efforts

Equips senior leaders with practical skills and insights necessary to integrate the FAIR model into their organization’s broader risk management strategy

Requires participants to hold leadership roles such as CEO, CISO, or CRO, which may exclude professionals in other roles from benefiting from the course

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Advancing FAIR™ within Risk Management Programs with these activities:

Mastering Cyber Risk Quantification

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Gain a deeper understanding of the FAIR methodology by studying the core text on the subject.

View Measuring and Managing Information Risk: A FAIR... on Amazon

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Obtain a copy of 'Measuring and Managing Information Risk: A FAIR Approach'.
Read the book, focusing on the chapters that explain the FAIR model and its application.
Take notes on key concepts and examples.

Explore the NIST Risk Management Framework

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Understand the broader risk management landscape and how FAIR integrates with established frameworks.

View Nist Special Publication 800-37 (REV 1) on Amazon

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Download NIST Special Publication 800-37.
Review the document, paying attention to the steps in the Risk Management Framework.
Consider how FAIR can be applied within each step of the framework.

Enhance Existing Risk Assessment Frameworks

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Learn how to enhance existing risk assessment frameworks by integrating the FAIR model.

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Assess current risk assessment frameworks.
Identify areas for improvement.
Integrate FAIR model to enhance risk assessment.
Evaluate the effectiveness of the enhanced framework.

Four other activities

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FAIR Risk Assessment for a New Technology

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Apply the FAIR model to evaluate the risks associated with adopting a new technology within your organization.

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Select a new technology your organization is considering adopting.
Identify potential loss events associated with the technology.
Use the FAIR model to quantify the risk associated with each loss event.
Present your findings to stakeholders.

Develop a FAIR-CAM Model for a Critical Control

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Deepen your understanding of FAIR-CAM by developing a model for a control that is critical to your organization.

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Identify a critical control within your organization.
Gather data on the effectiveness of the control.
Develop a FAIR-CAM model to quantify the impact of the control on risk.
Document your model and present your findings.

Practice FAIR Risk Quantification with Peers

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Reinforce your understanding of FAIR by practicing risk quantification exercises with your peers.

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Form a study group with other students.
Find or create FAIR risk quantification scenarios.
Work through the scenarios together, discussing your approaches and findings.

Write a Blog Post on FAIR Automation

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Solidify your understanding of FAIR automation by writing a blog post explaining its benefits and challenges.

Browse courses on Risk Management

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Research the current state of FAIR automation.
Identify the key benefits and challenges of FAIR automation.
Write a blog post explaining your findings.
Publish your blog post on a relevant platform.

Career center

Learners who complete Advancing FAIR™ within Risk Management Programs will develop knowledge and skills that may be useful to these careers:

Chief Risk Officer

A Chief Risk Officer is responsible for overseeing an organization's risk management strategies. This course is designed for executives who are in positions such as Chief Risk Officer. It teaches how to integrate the FAIR model into their organization's risk management framework. Chief Risk Officers who take this course will learn to evaluate new technologies and build effective programs. Specifically, they will learn ancillary FAIR standards for improving control effectiveness, third party risk management, and how to automate risk management processes. This course emphasizes continuous improvement by using the FAIR model, ensuring risk management aligns with evolving business needs.

See salaries and explore the career path for Chief Risk Officer

Chief Information Security Officer

The Chief Information Security Officer is responsible for an organization's cybersecurity strategy. This course is tailored to senior leaders like a Chief Information Security Officer. It provides the essential skills and insights to integrate the FAIR model into broader risk management strategies. The course emphasizes a quantitative and business aligned approach to managing cyber risk. A Chief Information Security Officer will learn how to evaluate new technologies and enhance risk management frameworks, including using FAIR-CAM for controls and FAIR-TAM for third party risk. By learning from this course a Chief Information Security Officer can ensure strategies remain adaptable to evolving threats.

See salaries and explore the career path for Chief Information Security Officer

Chief Executive Officer

The Chief Executive Officer is responsible for setting the overall strategy of a company, including risk management. This course helps a Chief Executive Officer understand the FAIR model and how to integrate it within their organization's risk management program. The course details the intersection of cyber risk with financial decision making, which is valuable context for a Chief Executive Officer. This course provides a strategic view of different risk management frameworks, and how to achieve continuous improvement. A Chief Executive Officer will gain the knowledge to make better informed decisions.

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Risk Manager

A risk manager implements an organization's overall risk management strategy. This course helps a risk manager implement the FAIR model to evaluate new technologies and enhance risk frameworks in accordance with cyber risk management strategy. The course delves into both technical and governance approaches to risk management, and how to continuously improve risk management programs. A risk manager will explore how to apply FAIR standards to controls, third party risk, and automation. By taking this course a risk manager will gain the practical knowledge necessary to integrate the FAIR model within their organization.

See salaries and explore the career path for Risk Manager

Cyber Risk Analyst

A cyber risk analyst evaluates an organization's cyber risks. This course will help a cyber risk analyst leverage the FAIR model to evaluate new technologies and enhance existing risk assessment frameworks. It also provides the knowledge to differentiate between technical and governance approaches to risk management. A cyber risk analyst will learn how to apply ancillary FAIR standards for controls, third-party risk, and automation. This course enables cyber risk analysts to continuously improve their risk management programs, incorporating the FAIR model to address evolving threats.

See salaries and explore the career path for Cyber Risk Analyst

Internal Auditor

An internal auditor evaluates the effectiveness of an organization's risk management and internal control processes. This course would be useful to an internal auditor by providing deeper understanding of how to integrate the FAIR model into cyber risk management. An internal auditor can learn how to evaluate new technologies, enhance risk assessment frameworks, and build effective risk management strategies. This course will allow an internal auditor to better understand the FAIR Institute's standards and how to improve risk evaluation and control effectiveness.

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Management Consultant

A management consultant advises organizations on how to improve efficiency and performance. This course helps management consultants gain familiarity with the FAIR model and its role in overall strategic risk management. A management consultant can learn how to evaluate new technologies, enhance risk assessment frameworks, and build robust management strategies. A management consultant will also learn how to leverage ancillary FAIR standards for controls, third-party risk, and automation. This course enables consultants to better advise their clients on continuous improvement in risk management.

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Information Security Manager

An information security manager is responsible for implementing an organization's information security policies. This course may be useful for an information security manager by providing insight into the FAIR model and how it integrates into broader risk management strategies. An information security manager can learn how to evaluate new technologies and enhance existing risk assessment frameworks. The course covers ancillary FAIR standards for controls and third-party risk. The course will also help an information security manager develop the strategies to continuously improve information security and risk management programs.

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IT Director

An IT Director leads the implementation of information technology systems and strategy. This course may be useful for an IT director by providing crucial insight into how the FAIR model can be integrated into cyber risk management programs. An IT director will learn how to evaluate new technologies and enhance existing risk assessment frameworks. Learning ancillary FAIR standards will help an IT director understand how to improve control effectiveness and third-party risk management. An IT director will learn strategies for continuous improvement and ensure their programs evolve to meet emerging threats.

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Compliance Officer

A compliance officer helps ensure an organization is adhering to regulations and policies. This course may be useful for a compliance officer because it provides insight into how the FAIR model can be used to enhance overall risk management efforts. A compliance officer will learn the importance of adapting strategies to evolving threats. The course covers technical and governance approaches to risk management. A compliance officer can also learn how to use FAIR standards for controls, third-party risk, and automation to improve their organization's cyber risk management.

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Business Continuity Manager

A business continuity manager develops and implements plans to ensure business operations continue during disruptions. This course may be useful for a business continuity manager since it covers the intersection of cyber risk and financial decision-making. A business continuity manager will learn to enhance existing risk assessment frameworks and build robust, effective risk management strategies. They will also learn the importance of continuous improvement and adapting to evolving threats. The course helps a business continuity manager understand how to integrate the FAIR model into business continuity planning.

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Financial Analyst

A financial analyst analyzes financial data and provides recommendations. This course may be useful for a financial analyst by covering the intersection of cyber risk and financial decision-making. A financial analyst can learn how to enhance existing risk assessment frameworks by using the FAIR model, and build more robust, effective risk management strategies. By taking this course, a financial analyst will understand how to integrate the FAIR model into broader organizational strategies.

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Project Manager

A project manager plans and executes projects, often coordinating diverse teams. This course may be useful to a project manager as it teaches how to improve risk management programs by introducing the FAIR model. This course also covers the importance of continuous improvement. Project managers will learn how to integrate the FAIR model into new projects, and how to consider and integrate new technologies into existing frameworks. The course will help a project manager to ensure that risk management is a part of project planning.

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Operations Manager

An operations manager oversees the daily activities of a business. This course may be useful to an operations manager by providing insight into the FAIR model in relation to broader risk management strategies. Operations managers will learn effective risk management techniques to ensure a program's adaptability to evolving threats. They will learn how to evaluate new technologies by using the FAIR model and how to continuously improve risk management programs. Operations managers will understand how FAIR applies to controls and third party risk.

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Data Analyst

A data analyst's role is to collect, process, and analyze data to provide insights. This course may be useful for a data analyst by demonstrating the intersection of cyber risk and financial decision-making, and how improved risk management strategies are important to an organization's overall success. A data analyst can learn how to use data to evaluate and improve the risk management framework while learning about the FAIR model to analyze threat. This course will help a data analyst understand how to integrate new data sources with existing data.

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Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Advancing FAIR™ within Risk Management Programs.

Measuring and Managing Information Risk

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Is the seminal work on the FAIR methodology. It provides a comprehensive overview of the FAIR model, its principles, and its application to cyber risk management. It is highly recommended as a reference text for understanding the core concepts of FAIR and how to apply them in practice. This book provides the foundational knowledge necessary to effectively integrate FAIR into risk management programs.

Measuring and Managing Information Risk: A FAIR...

Paperback

$$$

Nist Special Publication 800-37 (REV 1)

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This NIST publication provides a detailed framework for managing risk in information systems. It valuable resource for understanding the broader context of risk management and how FAIR can be integrated into existing frameworks. While not specifically about FAIR, it provides a crucial understanding of the landscape in which FAIR operates. This document is commonly used as a reference by industry professionals.

Nist Special Publication 800-37 (REV 1)

Paperback

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Nist Special Publication 800-37 (REV 1)

Kindle Edition

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Advancing FAIR™ within Risk Management Programs

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What's inside

Syllabus

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Activities

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Reading list

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