Cybersecurity Risk Assessment Services

Providing Strong Foundations for Risk-Management Decisions

Understand where your organization is exposed and which improvements deserve attention first. LBMC’s cybersecurity risk assessment services evaluate your people, processes, and technology to identify security gaps, assess business risk, and help leadership make informed decisions.

Questions About Cybersecurity Services?

If you’re evaluating risks, preparing for an assessment, or responding to new security requirements, our team can help you understand your options and determine next steps.

Risk Assessment Services at LBMC

Comprehensive Security Assessments

LBMC provides thorough security risk assessment services tailored to a diverse range of industries. Our team of specialists identifies capability gaps and key threats, evaluates current risk profiles, and offers actionable recommendations to mitigate risks effectively.

What You Receive From Your Cybersecurity Risk Assessment

Your assessment findings should help both leadership and technical teams understand your current security posture and make informed decisions. Depending on the agreed scope, deliverables include:

  • Current-state assessment report: Findings that compare your security practices and controls with the applicable frameworks.
  • Identified gaps and improvement opportunities: Areas that need attention, with recommendations to guide next steps.
  • Executive summary: A clear overview of findings to support leadership discussions and investment decisions.
  • Scorecard and dashboard: A view of assessment results that helps communicate your security posture to stakeholders.

Specific deliverables and reporting formats are established during engagement planning.

For organizations that need ongoing support after an assessment, Cyber Core helps coordinate cybersecurity priorities, governance, and reporting.

Steps of a Successful Risk Assessment Model

Effective security assessment services follow these steps:

  1. Identification: Identify all critical assets integral to the organization. Create a risk profile for each identified component.
  2. Assessment: Prioritize security risks for each asset and determine resource allocation for risk mitigation.
  3. Mitigation: Define and enforce strict security controls for each identified risk.
  4. Prevention: Implement processes to minimize the possibility of threats affecting your resources.

Understand What’s at Risk

A cybersecurity risk assessment starts with understanding your organization’s systems, sensitive information, business processes, and third-party dependencies. LBMC evaluates these areas within the agreed assessment scope to help your team understand potential business impacts and prioritize security improvements.

Regulatory Compliance

Our threat and risk assessments comply with standards such as HIPAA and PCI-DSS. LBMC’s cybersecurity services ensure your organization meets unified security controls mandated by these regulations.

Components of Threat and Risk Assessment

Experienced specialists at LBMC perform risk assessment services based on industry best practices. Our services include:

  • Security Policy Reviews: We thoroughly implement assessments of a business’s security policy.
  • Security Technology Assessments: Detailed studies to locate IT risks and weaknesses.
  • Access Control Testing and Review: Techniques to limit access to information or resources, ensuring only authorized entities have access.
  • Physical Security Services: Multiple layers of security systems such as guards, locks, barriers, access control, fire protection, deterrent systems, and perimeter intrusion detection.

Efficient Compliance with Multiple Frameworks

With numerous information security regulations, balancing compliance and operational needs requires a business-centric approach. Our assessments cover compliance with multiple frameworks, such as:

If you’re navigating complex security, compliance, or risk challenges, LBMC’s cybersecurity advisors can help you prioritize next steps with clarity. Start with a conversation focused on your goals, risks, and operational realities.

Industries We Serve

Organizations across every industry benefit from understanding where security risks exist before they become business problems. LBMC performs security risk assessments for healthcare organizations, manufacturers, technology companies, financial institutions, private equity firms, and other organizations seeking to prioritize risk, strengthen security controls, and support compliance initiatives.

Featured Industries 

Explore Additional Industries We Serve

Risk Assessment Resources

Explore practical guidance from LBMC’s cybersecurity professionals covering security risk assessments, cybersecurity program development, governance, due diligence, and strategies for identifying and reducing organizational risk.

Local Expertise, Wherever You Are

With offices in Chattanooga, Memphis, Louisville, Nashville, Knoxville, Philadelphia, and Charlotte, plus remote offices, LBMC partners with businesses across the region and beyond.

People, Process, Technology

At LBMC Cybersecurity, our team is proficient in evaluating all three pillars of security: people, process, and technology. We design our comprehensive security risk assessment approach to ensure a detailed evaluation and robust protection for your organization.

People

We begin by conducting thorough interviews and reviewing important documents. We talk to key staff members who handle IT security and privacy functions, as well as other business leaders. This helps us understand how your team manages security, ensuring that everyone knows their roles and responsibilities. Our goal is to find any gaps in knowledge or execution that could pose a risk to your organization.

Process

Next, we carefully review your information security policies, processes, IT systems, logs, and training materials. Our team compares these elements against leading practices and relevant regulations to ensure they meet industry standards. We closely examine your current security systems and processes to find any weaknesses or areas that need improvement. Understanding how you manage your security allows us to give practical advice to strengthen it.

The Role of a Security Assessment Company

A security assessment firm like LBMC plays a crucial role in auditing security policies, identifying weaknesses, and implementing essential security controls. Our consultants focus on preventing security defects and ensuring a robust information security program.

Our risk assessment specialists enable your organization to view your environment from an attacker’s perspective. This insight is a vital part of a business’s risk management process, helping managers:

  • Make informed security control implementation decisions.
  • Allocate resources effectively.

Why Choose LBMC for Your Cybersecurity Risk Assessment?

A useful risk assessment connects security findings to business decisions. LBMC evaluates your people, processes, and technology within the agreed scope, then explains the findings in terms leadership and technical teams can use.

Our approach helps your organization:

  • Understand security gaps and their potential business impact.
  • Compare current practices with applicable security frameworks.
  • Prioritize improvements and allocate resources.
  • Communicate findings through clear reporting for leadership and security teams.

Whether you’re assessing risk, preparing for compliance, or strengthening your security program, LBMC can help you move forward with clarity and confidence. Start with a conversation focused on what matters most to your organization.

Cybersecurity Risk Assessment FAQs

What does a cybersecurity risk assessment cover?

The scope depends on your organization’s systems, sensitive information, business priorities, and applicable security frameworks. An assessment can include document reviews, stakeholder interviews, and evaluation of your people, processes, and technology to identify security gaps and improvement opportunities.

Useful starting materials include security policies, system inventories, previous assessment findings, and information about your current security program. LBMC works with your team during engagement planning to confirm the scope, identify participants, and outline the documentation needed.

Your team receives findings and recommendations based on the agreed scope. These results help leadership prioritize improvements, assign responsibilities, and make security investment decisions. Additional advisory support can be discussed if your organization needs help coordinating the work ahead.

Security and privacy risks often overlap when sensitive information moves across systems, departments, and third-party providers. Your assessment scope should reflect the information your organization handles and the questions you need answered. Some organizations may also need a separate privacy assessment. Read about CCPA and CPRA risk assessments for additional context.

Yes. Reviewing a target company’s security program can help identify weaknesses, potential remediation costs, and integration challenges before closing. The assessment should reflect the transaction’s objectives and the assets driving its value. Read about cybersecurity due diligence in a potential acquisition and the cybersecurity considerations investors should evaluate.

An assessment can examine risks associated with how your organization selects, accesses, and uses AI tools. Depending on scope, this may include sensitive data handling, access controls, employee practices, third-party providers, and governance. LBMC’s discussion of evaluating the controls surrounding AI provides additional context.

Meet Our Cybersecurity Risk Assessment Leaders

Shareholder, Cybersecurity

Shareholder - LBMC Cybersecurity Practice Leader

Shareholder, HITRUST and CMMC Practice Leader

Shareholder, Cybersecurity

Shareholder, Cybersecurity and PCI Compliance Practice Leader

Which Cybersecurity Risks Should You Address First?

LBMC can help you evaluate your current security posture and identify priorities based on your organization’s risks and business objectives. Complete the form below to discuss your assessment needs with a cybersecurity advisor.

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