How To Develop an Effective Information Security Policy

Elements of an Information Security Policy

Purpose

The purpose of the information security policy is to protect the organization's information security and uphold ethical, legal, and regulatory requirements. It aims to detect and preempt breaches caused by third-party vendors or misuse of networks and data, safeguard the organization's reputation.

Audience

The information security policy should clearly outline its scope, including which entities it applies to and those it does not. It’s crucial not to overlook the risks posed by third-party vendors.

Authority and Access Control Policy

Establishing authority over data access is essential for proper data-sharing. Compliance with regulations like HIPAA may be necessary, even if the authority does not solely rest with the organization. A data classification system should be implemented to assign security controls and establish security standards.

Data Classification

Data should be classified into categories to determine the level of protection needed. This focuses on handling data at each level, including data protection regulations, industry best practices, data backup requirements, encryption, and third-party service providers. It also addresses secure communication of classified data to prevent man-in-the-middle attacks.

Security Awareness Training

Training is crucial for employees to understand security requirements, including social engineering, clean desk policy, and acceptable usage. This operationalizes the information security policy, outlining employee responsibilities in security programs, network security, physical security, incident response, and data security.

Why Is Having an Information Security Policy Important?

Address Your Main Security Risks

Organizations with strong information security policies are better equipped to address security threats and safeguard their valuable assets. These policies cover a wide range of risks, such as application security, physical security, user access controls, and more.

Achieve Compliance

Compliance and security requirements are crucial in business, and obtaining certification necessitates documentation and software. The documentation includes an information security policy that outlines procedures, controls, and rules to adhere to specific regulations and standards.

Achieving compliance is easy with ISMS Connect.

Our community provides access to guides, templates, and expert assistance that break down complex InfoSec topics and streamline compliance. Our toolkit helps you understand complex regulations and ensures that you’re following the right standards.

Enhance Reputation

Meeting cybersecurity standards like Cyber Essentials or ISO® 27001 demonstrates that your brand prioritizes data privacy and protection. By implementing information security policies and technical controls, you show clients that you care about their data and comply with industry best practices.

How To Develop an Effective Information Security Policy

1. Establish a Cross-Functional Team

Information security policies need to involve input from a wide range of stakeholders.

Why? There are two main reasons:

1. Information security is relevant to all business areas—from the executive level to the employees.

2. Different departments have different perspectives on risks, appropriate responses, best practices, and implementation.

So, while the bulk of your team will consist of IT professionals and executives, it’s important to involve people from other departments, like human resources, legal/compliance, and operations, who can provide insights into day-to-day processes, common risks, and so on.

You’ll also need to appoint a team lead—someone who will be responsible for overseeing the development and maintenance of your information security policies.

2. Conduct an Asset Inventory

Next, your team will identify key information assets. If you’re working with time or resource constraints, working on a single department’s assets at a time is helpful.

Start by looking into:

• Customer records

• Financial records

• Employee records

• Company Intellectual property

• Third-party vendor agreements and contracts

• Business systems

When you have your assets identified, add them to an information asset register (IAR)—a tool used to track, manage and maintain information assets. This will help you keep your asset inventory current and up-to-date to track changes within the system easily.

3. Map Your Risk Landscape

Your risk landscape is the sum total of all the risks your organization faces. 

This includes both threats and vulnerabilities. Threats are events that could potentially cause harm to your assets, such as cyber-attacks, natural disasters, or data breaches. Vulnerabilities are weaknesses in your system that could be exploited by malicious actors.

List possible risks from experience, industry reports, and other sources.

Then, add each risk to an impact-likelihood matrix by scoring its likelihood (how likely it is to occur) and impact (the potential cost or harm if it does occur). By doing this, you create a visual representation of your risk landscape that will help you better understand your organization's risks and prioritize resources for risk management.

4. Develop an Incident Management Strategy and Disaster Recovery Plan

For each risk you identify, you need to establish two things: 

1. Thresholds: The point at which a risk has gone from a low-level threat to an incident requiring an immediate response.

2. Actions: The specific steps to be taken if a risk exceeds its threshold.

These thresholds and actions should be detailed in a formal disaster recovery plan, serving as your roadmap for responding quickly and effectively during an emergency. This plan should provide clear guidance on who is responsible for what tasks and include protocols for containing the incident, maintaining business continuity, and recovering from the incident. 

The plan should also include methods for tracking incidents and determining their root causes so that you can identify weaknesses in your risk management strategy and take steps to address them.