Creating a strong security policy for your business

A security policy is a set of rules and guidelines that define how your business protects its information assets and systems. It establishes what actions need to be taken to prevent the unauthorized access, use, disclosure, modification, or destruction of those assets and data.

If your business deals with sensitive data, customer information, financial records, intellectual property, trade secrets, or confidential communications, you need a security policy!

Security policies are important because they help your business to manage security risks and incidents in a consistent manner. Each policy makes it clear to your employees, customers, and partners what your responsibilities are and what your expectations of them are as well. In regulated industries, a security policy is mandatory for those entities to be compliant with legal and regulatory frameworks.

A well-defined and regularly updated policy is a statement of intent that you are prepared for the likelihood and impact of a security breach or data loss. It also enhances your reputation and trust as a secure and reliable business.

However, creating a strong security policy is not a one-time task. It requires ongoing review and update to reflect the changing needs and threats of your business environment.

Starting the process

1. Security objectives and scope. Define the goals of your security policy, the assets and systems that need to be protected, the stakeholders and users that need to be involved or informed, and how your security policy aligns with your business strategy and values?
2. Risk assessment. Creating a baseline is an important step. Identify any potential threats and vulnerabilities and their severity; gaps and weaknesses that may be present. Define the controls and measures in place to prevent or mitigate them.
3. Security requirements and standards. Based on your risk assessment, identify the specific security rules and guidelines to implement to protect your assets and systems, the minimum security levels and best practices that you expect from your employees, customers, partners, and vendors.
4. Document and communicate. Using clear and easy to understand language, communicate your security policy to all relevant parties and ensure that they acknowledge and agree to it. Not everyone in your business is IT savvy or knowledgeable on security.
5. Implement and enforce. Define actionable steps and procedures. Provide adequate training, tools, resources, and support to help your employees, customers, partners, and vendors comply with your security policy. Establish mechanisms for reporting, auditing, reviewing, and updating your security policy on a regular basis.
6. Evaluate and improve. Monitor the effectiveness and efficiency of your security policy, collect feedback from stakeholders, identify areas for improvement and update accordingly.

Elements of your security policy

You can set and enforce policies that address many security areas. Here are few key areas:

Password Management

One of the most critical components of a strong IT security policy is effective password management using strong passwords, multi-factor authentication.

Access Control

Zero trust or least privilege are two principles to follow. Only give access to those who need it and treat every user as a possible threat.

Data Encryption

Encrypt all data, both in transit and at rest, using industry-standard protocols.

Employee Training

Training employees on best practices for password management, data security, and incident response to help prevent security breaches and mitigate the impact of any incidents that occur.

Third-Party Access

Ensure third-party vendors / contractors follow the same IT security policies as your employees.

Network Security

Ensure that firewalls, intrusion detection systems, and other network security measures are in place and functioning correctly. Consider VPNs for secure remote connections.

Mobile Device Management

Develop strong policies for securing and managing mobile devices, enforcing strong passwords and remote wiping capabilities, among others.

A security policy is a crucial component of an organization's security strategy, providing direction and guidance for creating a secure environment, fostering a culture of security awareness, and enhancing resilience against threats. A comprehensive, consistent, realistic, and adaptable security policy sets the tone for how security is prioritized and implemented throughout the organization.

How can BMIT help?

If you are relatively new to cybersecurity and creating a security policy for your business, BMIT has a Cybersecurity Assessment Tool that will identify weaknesses in your enterprise IT security and offer recommendations. Our solutions architects can then help you fill in the gaps in your security posture with a detailed report on what is needed.

Want to learn more about creating a solid business security policy and strengthening your business’s security posture?

Contact us today!