Brainwave GRC helps you anticipate security risks
Fighting against cyber attacks
The energy sector, particularly oil and gas, has become the target of choice for many hackers – both economic and strategic. These increasingly frequent external attacks can quickly impact multiple sectors or an entire nation by shutting down the electrical grid, as occurred following recent cyberattacks in Ukraine and Israel.
According to a senior official at the NSA, 41% of cyberattacks today are aimed at energy players. Despite this, according to a study by Ernst & Young, 46% of those surveyed in the sector are concerned about their organizations’ lack of cybersecurity awareness.
Knowing this, the energy sector should move quickly to protect itself and face these growing risks, which could have significant economic, financial, and political repercussions.
Automate your access reviews with Brainwave GRC
Challenges facing the sector
The organization and information systems of energy players are complex financial, HR, and technological environments. They often involve tens or hundreds of thousands of individuals, including numerous subcontractors, carrying out financial transactions significant both for their size and for the energy resources they deliver. Because of this, their information systems are just as complex, structured according to the varied needs of the organization, but inevitably allowing only a fragmented picture of the organization.
Easily know and manage your environment
The management and securing of large, complex environments is possible with the Brainwave solution because it gives you a global and accurate view of your information system and identified risks, as well as allowing you to easily and effectively manage your access rights.
All of the company’s data, including HR data, is collected and treated automatically to supply a 360° view of the organization’s information and risks, through customizable control panels, reports, and the natural language navigation platform. Management is simplified even more from the automation of access rights reviews and remediation processes through workflows.
Sensitive business processes and supply chains
Electric and hydraulic network infrastructure, dams, nuclear power plants, petroleum and gas installations, energy actors must protect their installations and very sensitive business processes because they involve assets of high financial and economic value.
Among these business processes, the delivery supply chains of energy resources, for example, must be structured and secured by robust segregation of duties (SoD) controls. Despite this, many businesses have a hard time defining relevant and robust SoD matrices because they do not have all the necessary information and have no vision of the risks involved in these processes.
Secure your sensitive processes and assets
The Brainwave solution allows the securing of your sensitive business processes and assets, especially of certain supply chains and energy supply processes, thanks to numerous workflows and an overall vision of the information and risks to ease the application of SoD controls.
Besides detecting unusual situations or user behavior, the solution allows you to highlight the conflicts in separation of tasks throughout a whole business process, not just around a single application or ERP.
A technological and business shift
Like many other sectors, the energy and utilities sector is in the midst of a digital transformation, especially since arrival of smart meters and the growth in Internet of Things in the energy chain. These disruptions are inevitable but often bring additional risks, as the systems have strong exterior protections but very weak interior security systems.
To ensure a successful transformation without increasing their vulnerability to external attacks, energy players must adopt new solutions and become more robust and agile in the face of internal and external cyber risks.
Ensure protection and operational security
The Brainwave GRC solution ensures the success of your digital transformation, your transition to the cloud, or to smart meters, ensuring both data security and the operational efficiency of your business. The solution allows you to automate the processes of reviewing access rights and remediation so that those responsible may perform this compliance task quickly and effectively.
The gains in time and security are even greater given that those responsible only need to verify the changes since the previous review, because each process is contextualized to give each manager a real view of their own organization or department.
Increasing external threats
Energy actors are often defenseless in the face of increasing cyberattacks, since many are not prepared for such threats, which can easily penetrate their information systems and paralyze their networks or trigger data leaks with devastating consequences.
Prevent fraud and data leak risks
Brainwave GRC allows rapid and effective detection of any unusual behavior or situation in order to control the risk of fraud, data leakage, or cyberattacks within your organization. For example, user activity will be flagged if it differs significantly from that of their peers—the other members of their team or management—or if their rights do not match the rights theoretically given to their position. Privileged accounts and attempts at fraud or cyberattacks may then be detected, and the development of new risks can be analyzed in real time
Take a look at your needs by Industry
DIGITAL TRANSFORMATION - REGULATORY COMPLIANCE - FIGHT AGAINST FRAUD
The Insurance sector is chaging very fast. With an increasing regulatory pressure, insurers need to face multiple challenges such as conducting properly their digital transformation without security imperatives impending operational efficiency, the management of sensitive business processes and fighting against cyber attacks.
REGULATORY COMPLIANCE - SENSITIVE DATA - DIGITALIZATION
The banking sector faces multiple challenges today: intensification of compliance requirements, wide spread digitalization, imperative of protecting sensitive assets, preventing data breaches, etc.
FIGHTING AGAINST CYBER ATTACKS – CYBER SECURITY
The energy industry has quickly become a privileged target for hackers, especially petroleum and gas industries. These external attacks are becoming more common, and they can quickly impact all or part of an entire country by shutting down the electrical grid, like the hackings in Ukraine and Israel, for example.
OPENING IT SYSTEM - SECURING LOGISTICS CHAINS - DIGITAL TRANSFORMATION
The manufacturing industry, now rapidly changing, is faced with many strategic issues, both circumstantial and structural. The proliferation of unstructured data, logistics chains’ sensitivity (particularly to fraud risk), the size of the organizations, and the importance of protection for information systems are all major current challenges for the industry players.
CYBER ATTACKS – LEGISLATION ISSUES – DIGITAL TRANSFORMATION
The increasing number of cyber attacks on hospitals and health facilities in general, as in the hacking of the Hollywood Presbyterian Medical Center, implies higher risks of fraud, data breach, and external attacks for the entire sector, without any recourse for stakeholders to better protect themselves.
CYBER ATTACKS – SENSITIVE DATA AND PROCESSES - REPUTATION
Currently, trading activity is faced with more and more cyber security risks, at the height of the financial and economic issues connected to it. The financial consequences and impact of a cyber attack on the reputation of the companies involved represent increasingly significant risks. The industry players are starting to take action against these risks.
Take a look at your needs by job title
- CISO and CSO
- INFRASTRUCTURE AND APPLICATION MANAGER
- INTERNAL CONTROL
- CFO and CRO
- GENERAL MANAGEMENT
SECURITY POLICY - RISK MAPPING - OPERATIONAL EFFICIENCY
The "security" topic within a business is often taken in charge by the CISO and CSO's collaboration, when both actors are present. Yhe definition of the security policy and the risk mapping, conducted by the CISO, define the path to follow fot the policy's implementation, this being the CSO's responsability.
OPERATIONAL EFFICENCY - PERFORMANCE – GOALS
The operational plan's efficency and the IT function's performance are the CIO's first priorities. In this context, IT security is often perceived as a constraint. Nevertheless, not considering enough IT security issues can rapidly impact IT teams' operational efficiency.
ENSURE OPERATIONAL FUNCTIONING AND SECURING WITHIN THE SCOPE OF YOUR BUSINESS.
Each application and infrastructure manager within the organization must ensure operational maintenance within their scope. They must also operate level 1 controls to implement internal control plans and respond to any auditor request.
COMPLIANCE REQUIREMENTS, ANALYSIS, RISK GOVERNANCE
The current challenges present in IT auditing are manifold: verification of the integrity of data and systems, verification of compliance with internal policies and regulations, detection of drifts, etc. In addition to monitoring regulatory compliance, audit is taking on a role that is increasingly complementary to data security: are the organization’s resources and data being used appropriately and by legitimate users?
COMPLIANCE – RISK MANAGEMENT AND MANAGEMENT OF ACTIVITIES – RESOURCES – PROCESSES
Internal control has now a vast scope of responsibilities: compliance checks, the definition and proper application of segregation of duties (SoD) matrices, control plans’ implementation and the resulting KPIs, remediation processes’ implementation, etc.
PERFORMANCE – OPERATIONAL EFFICIENCY – SECURITY OF THE DEPARTMENT
Any supervisor of a department or business unit is primarily responsible for organizational efficiency and ensuring that objectives are achieved. The challenges that you face today include access rights review of your teams, fulfilling regulatory compliance requirements, and being aware of security risks such as internal fraud.
FIGHT AGAINST FRAUD - ENSURE OPERATIONAL AND FINANCIAL EFFICIENCY
"Fake president" scams, information theft, internal fraud... Never have finance departments had so much to worry about in terms of IT resources misappropriation. These forms of embezzlement present known risks to organizations’ image and profitability. Statutory Auditors are increasingly demanding in their audits, and they point out systematically failures regarding control monitoring, which are becoming increasingly difficult to ignore.
GROWTH - RISKS - DIGITAL TRANSFORMATION
Information thefts, confidential data breaches, internal fraud... Never have financial departments have had to worry as mcuh regarding proven and potential risks threatening their organization's profitability and reputation. External auditors are more and more demanding in verifications and highlight more and more failures to comply to control obligations, becoming impossible to ignore any longer.