What is Security Incident Management?

What is Security Incident  Management?

Statista predicts cybercrimes will cost the US more than 452 billion USD in 2024.

In addition, Gartner estimates that by 2025, 45% of global organizations will experience attacks on their software supply chains.

Such a staggering rise in cyber attacks makes security incident management practices critical for businesses. They not only protect sensitive business data but also maintain trust among customers, minimize risk, and ensure business continuity.

This article will discuss security incident management and how it helps preemptively mitigate security risks.

What is security incident management?

Security incident management, also known as cyber incident management, is a systematic approach to mitigating security risks for businesses. It helps identify, manage, and prevent security incidents that compromise an organization’s data or system.

It includes processes and procedures for detecting, responding to, and recovering from security breaches that threaten business confidentiality and data credibility.

The security incident management process is designed to minimize disruption from security incidents on company operations throughout their lifecycle. It is a continuous process that starts with discovery and continues through analyzing, interpretation and implementation of insights gained to establish a strong system.

Source

It is a systematic and structured approach to detecting cyber incidents using strong monitoring and analysis tools. In a well-planned and well-implemented security incident management process, any incident within the system triggers alerts. It takes into consideration unusual network behaviors as well as reports from staff or other sources. In responding to such threats, security incident management executes a proactive and reactive plan to protect business assets from security risks.

Incident management vs incident response

Incident management is interchangeably used with incident response. While these are critical to cyber security, they serve different purposes and processes.

Let’s take a look at their differences.

Incident response: It is a reactive process that focuses on addressing and resolving security incidents as they occur. It involves immediate action to contain the incident and recover the damage caused by the incident in the present. It does not focus on developing measures to prevent future incidents.

Incident management is a proactive process that encompasses the entire lifecycle of managing security incidents, from detection to response, analysis, and prevention.

Security incident management plan

It provides a structured framework to oversee security incident detection, response, and recovery.  It ensures a coordinated approach among incident management teams and stakeholders to reduce disruptions and impact of the incidents and ensure business continuity.

1. Incident detection and analysis

It requires continuous monitoring of network traffic, system logs, and security alerts. This proactive approach to detection is supported by automated monitoring tools and intrusion detection systems. They help identify anomalies and suspicious activities quickly, enabling faster response.

When an incident is detected, it needs to be analyzed to understand the true scope of the threat and its impact. This involves gathering and analyzing relevant data, such as network traffic patterns, system configuration, and log files, to determine the cause and extent of the threat.

2. Incident severity categorization

After analysis, the incidents are categorized based on their severity, impact, and urgency. This helps prioritize response efforts and resource allocation. Typically, the categories include critical, high-impact, medium, and low-impact incidents.

3. Containment, eradication, and recovery

Once we've categorized the security incident based on its severity, we take three steps:  

• Containment: Isolate the affected network or system to prevent any further damage.
• Eradication: Remove the threat from the affected systems, reset the compromised systems and credentials, and remove malware and patch vulnerabilities.
• Recovery: Restore affected systems and data to resume normal operations quickly.

4. Notification

Depending on the severity of the incident, it might be necessary to inform the various stakeholders. Notify the relevant departments for a coordinated response and external partners, such as vendors and customers, if their data is affected. You might also be required to report the cyber incident to regulatory bodies as the law requires.

5. Post-incident review

Reviewing is as crucial as the rest of the security incident management plan because it helps us learn from incidents and improve our incident response capabilities.

It involves: 

• Root cause analysis to identify and understand what went wrong and why
• Documenting lessons learned from the incident to improve future incident response processes and procedures and develop preventive measures
• Recommending improvements in security policies, technology, and training based on the analysis

Security incident management best practices

Whether small or large, organizations of all sizes need a robust plan for security incident management. Follow these best practices to safeguard your business against cyber threats:

Develop a comprehensive plan

• Develop security incident management plans and policies to guide incident response and management. This includes an incident response policy on how to approach incidents, guidelines for internal and external communication, and guidelines for legal and regulatory compliance, in addition to the above-mentioned plan.
• Prepare a checklist of actions based on the threat and past incidents to guide response efforts, such as implementing temporary fixes, reviewing logs and timestamps for analysis, and conducting debriefing sessions to share insights on the incident.
• Update security incident management processes, procedures, and tools regularly.

Establish an incident response team

• Establish a team of professionals with expertise in incident detection, investigation, resolution, incident investigation, and enhancing security procedures. Define their roles and responsibilities clearly, as well as the tasks and actions expected.
• For greater visibility, involve the IT, security, legal, communications, finance, business management, and operations teams.

Training and practice

• Develop training programs to cover the activities within security incident management procedures.
• Practice the incident management plan and test various scenarios to ascertain its reliability and refine it consistently.

Documentation and records

• Maintain a repository of critical information the incident responders need, including the plan, contact lists, escalation policies, and technical documentation.
• Maintain runbooks for step-by-step guidance on various scenarios, especially for on-call rotations when system experts are unavailable.

Run chaos experiments

• Intentionally inject failures by adopting Chaos Engineering to check system resilience.

Take advantage of modern tools

• Use modern incident management tools like Rezolve.ai to streamline and monitor the security processes. These tools alert the preventive and auto-resolution processes using GenAI capabilities to reduce potential threats, reduce human error by automating tasks, and reduce delays in incident response
• Centralize the incident management and monitoring solutions through a single tool to filter noise and get into action quickly.

Learn from failures

• Conduct an in-depth analysis of all incidents, not only of significant ones, to learn from both and find any hidden pattern within these incidents.
• Complex systems have interdependent components that can also contribute to incidents. Look for multiple root causes in complex systems, even if the root cause is apparent. Run correlations between incidents to understand if there is any connection for a comprehensive understanding of incidents.

Rezolve.ai for security incident management

Rezolve.ai is a modern AITSM solution that redefines how organizations approach incident management.

With its seamless integration with MS Teams and GenAI capabilities, Rezolve.ai offers:

• Streamlined automation for rapid resolutions, minimized disruptions, and smooth flow of operations
• Conversational incident management that enables independent issue resolution and consistent incident management across communication channels
• Smart ticket creation and deflection for efficient ticket routing and incident management augmented by GenAI

It is a comprehensive solution that boosts overall efficiency and transforms traditional incident management into robust security incident management.

Today to learn about Rezolve.ai and its security incident management capabilities.

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FAQs

1. What are the five stages of the incident management process?

The Incident Management Process includes Incident Identification, Incident Categorization, Incident Prioritization, Incident Response, and Incident Closure.

2. What are the three types of security incidents?

The three types of security incidents are DDoS (distributed denial of service), unauthorized access to systems and networks and software attacks by malicious viruses, malware or ransomware.

3. What is an ITIL incident?

In ITIL, an incident is any unplanned interruption or reduction in the quality of IT services. ITIL incident management focuses on restoring service operations as quickly as possible and minimizing the adverse impact on business operations.

4. What is incident management in cyber security?

Cyber incident management is a systematic process of identifying, responding to, and resolving IT security incidents. It includes detecting security breaches and unauthorized access, assessing the impact of the incident, and mitigating the risks as quickly as possible to resume normal operations.