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How a Legal Degree Can Advance Your Cybersecurity Risk Management Career

Cybersecurity Risk Management

Advance Your Cybersecurity Career Today

With the ever-increasing pace of technology, cybercrime is a huge risk to companies all around. From a small business to a large healthcare organization, the need to manage risks to protect organizations and their consumers is of utmost importance. 

Cyber threats and the resulting cyber attacks is a costly expenditure for companies. The cost of cybercrime has risen by 10% in the past year. The average cost of a data breach in the United States in 2022 was $9.44 million, according to IBM data. Cybersecurity Ventures predicts cybercrime will cost $10.5 trillion annually by 2025. Meanwhile, the capabilities of AI and machine learning are skyrocketing, seizing attention in every industry around the world. The risk level is high.

As a result of this, a career in cybersecurity is always in demand — a demand that is increasing to keep up with advancements in technology and the threat environment. Cybercrime Magazine projected that there would be 3.5 million job openings in the cybersecurity field by 2025. Data security is an industry that affords more job security than many other professions.  

If cyber risk management as the threat continues to grow is the career path for you, consider Seattle University School of Law. Our MLS program in Compliance and Risk Management prepares our graduates to lead compliance efforts in any organization, regardless of industry.

What Is The Risk Management Process?

Perhaps you’re wondering what the risk management frameworks entail. When it comes to cybersecurity, you’ll become immersed in this rapidly evolving regulatory space and learn to make vital decisions that protect your organization and its data. 

Let’s walk through the four steps involved in risk management strategy.

1. Risk identification

The first step in risk analysis is to identify every event that can impact your company, a project, its consumers, and more. Both negative and positive impacts exist. When it comes to cybersecurity risk assessment, you need to know how to minimize the likelihood of breaches in data privacy or fraud as well as any information security risks. 

2. Risk assessment

Risk assessment can be qualitative and quantitative, assessing both the probability and potential impact of the identified events as well as the financial impact if it does occur.

3. Risk treatment

Treatment and incident response plans are developed to reduce both the probability of an event’s occurrence as well as the impact. Breaches may still occur, and it is then necessary to adeptly guide the company through the difficulties. Plans differ based on the risk level of the potential event.

4. Risk monitoring and reporting

Risks and opportunities, as well as their responses, must be monitored and reported on as a security measure. Security controls ensure the mitigation of any negative risks in the organization’s cybersecurity.

How Can An MLS Focused on Data Security Help Your Career?

In 2021, 14.4% of the U.S. population had an advanced degree, such as a master’s degree. The job market stays competitive — in the last few years alone, the U.S. has seen the temperature of the job market swing rapidly due to factors such as a global pandemic, a recession, and a massive shift in employee trends. 

Whether you’re new to the cyber risk management and compliance space or have started your career, a master’s degree gives you the expertise to guide both real-world and online operations and land that higher pay grade

How Seattle University Gives You a Competitive Advantage

Seattle University’s MLS degree contains a specific cybersecurity concentration with courses to prepare you for a role in the complex world of contemporary compliance and risk management. It prepares you for roles such as chief compliance officer or cybersecurity program analyst. Plus our program is fully online, making it easier for our students to juggle other life obligations while furthering their education. You graduate with a commanding knowledge of the law, legal analysis, and the frameworks used to identify, assess, and respond to risk on your own time.  

Interested in advancing your career in cybersecurity risk management? Contact our admissions office today to get started.

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