This is the fourth and final article in our comprehensive series on governance, risk, and compliance (GRC) for Dayton area businesses. In today’s interconnected world, where cyber threats are on the rise, businesses must be prepared to respond swiftly and effectively to security incidents. An incident response plan plays a crucial role in mitigating the impact of cybersecurity incidents and safeguarding sensitive information. With the increased focus on cybersecurity within every industry, small to medium sized businesses can easily fall into the check-the-box mentality. This often leads to overlooking the importance of incident response planning within the information security program.

In this blog post, we will explore the significance of incident response plans for Dayton businesses and provide practical guidance to help organizations create effective strategies tailored to their needs.

The Importance of Incident Response Plans

When it comes to cybersecurity incidents, prevention is not enough. In this day and age, with cyber-threats constantly evolving, it’s often a matter of when not if, creating the increased need for effective incident response planning. These programs ensure that businesses have a structured approach to identify, contain, eradicate, and recover from security incidents. By having a well-documented incident response plan, Dayton businesses can achieve the following:

1. Minimizing Downtime and Financial Losses. When it comes to cybersecurity, every second counts. Effective incident response helps organizations respond promptly to incidents, reducing the time it takes to detect and contain threats. This minimizes operational disruption, financial losses, and potential regulatory penalties, all of which can drastically impact the success of a company. Meaning an efficient incident response plan can literally make or break your organization.
2. Protecting Sensitive Data and Customer Trust. One of the foundational focuses of every information security program is protecting sensitive information. It is one of the main determining factors of whether or not the program is successful. Incident response plans enable businesses to implement swift and targeted actions to protect sensitive data from unauthorized access or exfiltration. By responding effectively to incidents, organizations can preserve customer trust and maintain their reputation. In every industry, a strong reputation is pivotal in overall success.
3. Complying with Industry Standards and Best Practices. Every business has standards and guidelines that dictate the goals and focus of their information security program. An incident response plan aligns organizational goals with industry standards and best practices. This is done through addressing compliance requirements, incorporating recognized frameworks, and emphasizing effective communication and collaboration. This is particularly important for credit unions, small dealerships, and companies supporting government contracts at Wright-Patterson Airforce Base. Businesses in these industries have specific compliance requirements that must be adhered to.

What Should be Included in an Incident Response Plan

Now that we have covered the importance of the incident response plan, let’s dive into designing one for your company. Creating an effective incident response plan requires careful consideration of specific factors relevant to your organization. By breaking down the 7 vital components of an incident response plan, we can start to piece together a customized program that will fit the needs of your information security program. It’s important to remember that this plan needs to be detailed out in an official company document and should be reviewed annually. While the details may vary, the following components should be included in your incident response plan:

1. Incident Response Team. When an incident occurs, it is extremely important to have a pre-determined team in place that can act quickly. This team should be comprised of leaders from various departments within the organization. It is important to have clearly defined roles and responsibilities for each team member involved in incident response. These roles include incident coordinators, IT personnel, legal representatives, and communication leads. Ensure clear lines of communication are created throughout the team. And be sure to designate an incident response leader who can ensure the plan and processes are followed.
2. Incident Assessment and Classification. An incident assessment is conducted to identify an information system’s security posture. Start by defining criteria for assessing the severity and impact of incidents. Then classify incidents based on their level of criticality and determine the appropriate response based on predefined thresholds. By analyzing the safety posture and identifying potential incidents, you can create a classification system that can assist with quicker response time.
3. Incident Identification and Reporting. Having a plan in place that will distinguish clear lines of communication is one of the first steps that should be taken. Specify how incidents will be identified, this is known as the detection phase. Detection tools will vary based on the size of the company and financial assets available. This can be an automated process within the network, a manual process of reviewing logs, or a combination of both. It is also important to determine who should be notified and a defined reporting process. Establish communication channels for reporting incidents promptly to the appropriate internal and external stakeholders.
4. Incident Containment and Eradication. Once an incident is identified, the next steps that must be taken are containment and eradication. Planning this process ahead of time is crucial in providing the quickest response possible. Outline the steps that must be taken in order to isolate and contain each incident classification, minimizing their spread and further damage. Detail the procedures for eradicating the root cause, such as removing malware or unauthorized access.
5. Evidence Collection and Preservation. While the incident is being contained and eradicated, it’s important to collect evidence that can assist in preventing future incidents. Steps also need to be taken to preserve the evidence while the process is being completed. Establish guidelines for collecting and preserving evidence. This includes maintaining logs, capturing screenshots, and preserving other relevant data for potential legal or investigative purposes.
6. External Communication and Coordination. Providing communication and information to the necessary organizations is the next step in the event of an incident. Determine which external sources must be notified based upon your industry regulations. Define protocols for communication, such as notifying law enforcement, regulators, or clients in the case of a data breach or significant incident. Establish contact information for each organization and define which roles are responsible for engaging with external parties.
7. Post-Incident Recovery and Lessons Learned. The last step in responding to an incident is recovering any lost data. This usually involves restoring data from a recent back-up. Having this outlined in your incident response plan will ensure all the correct steps in recovery are followed. Specify the steps for both recovery and restoration of systems after an incident. Once data is restored, conduct post-incident reviews to identify areas for improvement and update the incident response plan accordingly.

Consistent Challenges in Incident Response Planning

While incident response plans are essential, organizations often face consistent challenges. Understanding what the challenges are ahead of time can assist in avoiding major pitfalls down the road. Consider the following challenges and how they can be addressed:

Limited Resources – Smaller organizations may have resource constraints, making it challenging to dedicate personnel and technologies solely to incident response. Consider leveraging managed security services or partnering with a trusted cybersecurity provider to overcome resource limitations. Often companies like LMSolutions can create and manage everything necessary, but for a fraction of the cost it would take to hire an employee.

Compliance Requirements – Credit unions and organizations supporting government contracts have specific compliance standards to meet. Ensure your incident response plan aligns with these requirements, such as NCUA regulations for credit unions or NIST SP 800-171 and Cybersecurity Maturity Model Certification (CMMC) for government contractors. Ensuring all of the regulations are taken into account will play a vital role in successfully recovering after an incident.

Employee Awareness and Training – Staff members play a crucial role in incident response. Provide regular training and awareness programs to educate employees about their responsibilities, incident reporting procedures, and best practices for preventing incidents. Additionally, once your Incident Response Team is established, you need to ensure they understand the incident response plan and know how to implement every step. For this we recommend tabletop exercises.

Tabletop Exercises: Practicing and Applying the Incident Response Plan

One effective way to test and improve your incident response plan is through tabletop exercises. These simulated scenarios allow your team to practice and refine their response strategies. For executive-level staff and your Incident Response Tam, conducting tabletop exercises annually is particularly crucial. It allows them to understand their roles, make critical decisions, and test the plan’s effectiveness. By conducting these exercises regularly, your organization can identify gaps, improve coordination, and enhance overall incident response readiness.

When conducting these exercises, we highly recommend hiring a third-party consultant. Having an outside source that knows how to create real-life scenarios, provide potential obstacles, and guide your team through critical thinking strategies is the best approach. These are often inexpensive and the time commitment is typically only a few hours.

Conclusion:

Incident response planning is a vital aspect of cybersecurity preparedness for Dayton businesses. By implementing a well-structured incident response plan and regularly conducting tabletop exercises, organizations can minimize the impact of security incidents, protect sensitive information, and maintain business continuity. Credit unions, small dealerships, and companies supporting government contracts at Wright-Patterson Airforce Base must align their incident response plans with industry standards and compliance requirements. Prioritizing incident response preparedness will help safeguard your organization and preserve the trust of your customers and stakeholders.

Remember to regularly review and update your incident response plan to address emerging threats and changing business requirements. With a robust incident response strategy in place, your Dayton business can navigate the evolving cybersecurity landscape with confidence. If you have any questions regarding the process, or need assistance in creating your own incident response plan, contact the team at LMSolutions for a free consultation.