Cyber Risk Model

The elanev Cyber Risk Model is

  • Regulatory cognisant –  We have presented the underlying model to the FCA and the underlying approach has passed regulatory scrutiny at leading institutions.
  • Industry benchmarked – Leading firms are using our modelling service, benefitting from our wide industry experience and strong industry contacts.
  • Easy to use – Our clients find our secure cloud based real-time service easy to use giving them, and you, unlimited access without the prohibitive price tag.

Understand the capital impact of your cyber risk scenario assessments with the elanev Cyber Risk Model and efficiently respond to the recent EU banking authorities’ guidelines for the assessment of the such risks.

Aligned To The Latest Regulation

Cyber risk, or more fully Information, Communication and Technology (ICT) risk is intrinsic in any modern-day business. It can give rise to loss through the actions of ICT staff as well as manifesting itself through weaknesses in ICT systems and ICT processes and through external events such as cyber security related attacks and physical ICT asset damage. ICT risk is also inherently difficult to measure. Historic internal data may be sparse or aged and external data may have limited applicability. To provide a forward-looking view that seeks to alleviate these data issues, organisations are adopting a process called ‘Scenario Analysis’. This can provide an understanding of the nature of the most significant risks faced and provide a mechanism through which the frequency and severities of associated events can be estimated.

Cloud based real time analytic solutions for Purchasers, Sellers and Business and Risk Managers.

Industry Benchmarked

To ensure the continued operation of the institution under such events the industry is increasingly turning to statistical methods, such as those employed by elanev, to link scenario outputs to capital provision. Such techniques are used to extrapolate the scenario outcomes to quantify the potentially high impact nature of ICT risk to confidence levels associated with holding sufficient capital.

The elanev approach has been purposely developed with the aim of being suitable to most users. We can also provide bespoke services should you need it.