In a world where a single cyber breach can cripple an organization’s reputation, operations, and finances, cyber security risk management is no longer just a back-office IT concern. It is a business-critical issue, and for communications and PR agencies it represents a frontline challenge that requires strategic leadership and a comprehensive approach to risk management.

At IPREX, we recently hosted a session bringing together over 40 agency professionals to discuss one of the most important topics facing our industry today: cyber security risk management and resilience.

The increasing complexity of managing cyber risk due to the explosion of cloud services, remote work, and reliance on third-party vendors was a key point of discussion. This blog post explores the critical insights shared during our session, including emerging threats, cybersecurity best practices, cybersecurity threats, potential risks, and how IPREX agencies are uniquely positioned to help clients navigate a crisis. It also dives deeper into key frameworks like the NIST Cybersecurity Framework, cultural considerations, client expectations, and the evolution of risk in a global, digital-first market.

 

Introduction to Cybersecurity

Cybersecurity is a critical aspect of modern business operations, and its importance cannot be overstated. As technology continues to advance and more businesses move online, the risk of cyber threats and data breaches increases. A robust cybersecurity risk management strategy is essential for protecting sensitive data, preventing service disruption, and mitigating the financial and reputational consequences of a cyber attack.

In today’s digital landscape, businesses face a myriad of cyber threats that can wreak havoc on their operations. From sophisticated phishing attacks to devastating ransomware, the potential risks are numerous and ever-evolving. Implementing a comprehensive cybersecurity risk management plan is not just about safeguarding IT systems; it’s about ensuring the continuity and resilience of business operations.

By proactively managing cyber risks, organizations can protect their sensitive data, maintain customer trust, and avoid costly disruptions. A well-structured risk management strategy involves identifying potential threats, assessing their impact, and implementing measures to mitigate them. This approach not only helps in preventing data breaches but also prepares businesses to respond effectively in the event of a cyber incident.

The Evolving Cybersecurity Threat Landscape

Cyber security threats have evolved significantly. No longer confined to large enterprises, cyberattacks increasingly target mid-sized firms — including communications agencies — as “soft targets.”

Key threats include:

• Phishing and Social Engineering Attacks: Often targeting agency staffers posing as clients, third party vendors, or internal leadership.
• Ransomware: Criminal groups encrypt agency files and demand high ransoms.
• Supply Chain Breaches: Vendors or client systems compromised, affecting agency networks.
• Credential Stuffing: Attackers using leaked passwords to infiltrate business accounts.
• Zero-Day Exploits: Unknown vulnerabilities in software exploited before developers can patch them.

Attackers are increasingly using artificial intelligence to enhance their tactics, producing deepfake communications and improving password cracking methods.

Pull Quote:

“82% of breaches involve the human element — including phishing attacks and credential theft.” (Source: Verizon 2023 DBIR)

Key Insight: Threat actors are increasingly sophisticated, using AI-driven tactics to tailor attacks. Agencies must proactively defend not just their systems, but their people through an effective cybersecurity risk management process.

Understanding the critical threats and cyber risk management challenges is essential to managing risk effectively and avoiding service disruption. It is crucial to identify threats during cybersecurity risk assessments, recognizing various types of threats such as cyberattacks, human error, and natural disasters. Additionally, identifying and prioritizing critical risks can significantly impact an organization’s decisions about security measures and resource allocation, ensuring a comprehensive understanding of the company’s risk profile.

Understanding Cyber Risk

Cyber risk refers to the potential for financial loss, disruption, or damage to an organization’s reputation due to a cyber attack or data breach. These risks can manifest in various forms, including malware, phishing attacks, ransomware, and denial-of-service attacks. Understanding cyber risk is critical for businesses, as it allows them to identify potential threats, assess their likelihood and impact, and implement effective mitigation strategies.

Different types of cyber risks pose unique challenges. For instance, phishing attacks can lead to credential theft, while ransomware can lock critical systems and demand hefty ransoms. The consequences of these attacks can be severe, ranging from financial losses and regulatory fines to reputational damage and loss of customer trust.

Conducting regular risk assessments is essential for identifying and mitigating potential threats. These assessments help organizations understand their vulnerabilities and prioritize their cybersecurity efforts. The National Institute of Standards (NIST) provides valuable guidelines and frameworks for cybersecurity risk management, helping businesses establish robust security measures and stay ahead of emerging threats.

Why Cybersecurity Must Start with Leadership

One of the most critical takeaways from our session: cybersecurity risk management is a leadership issue, not just an IT responsibility.

Agency executives must:

• Set a cybersecurity-first culture.
• Allocate resources toward training, testing, and resilience.
• Integrate cybersecurity into client service models.

“Leadership commitment is the foundation of a secure organization. Without it, technical controls alone will fail.”

Best Practice: Establish cybersecurity risk management goals in your agency’s annual strategic plan. Leadership attention sends a clear message that security is essential.

Moreover, leadership must embed cybersecurity into enterprise risk management programs as part of a continuous cyber risk management process, recognizing that managing risk, identifying risk, and planning for residual risk is part of safeguarding key business functions.

A dedicated security team is crucial in continuously evaluating and addressing an organization’s cyber threats, ensuring that security protocols are effectively integrated across all business functions.

Building a Cyber-Resilient Agency

Our session covered key steps agencies can take to become more cyber-resilient through robust cybersecurity risk management plans:

1. Cybersecurity Awareness Training

• Conduct regular (at least quarterly) phishing simulations and training.
• Reward employees for spotting suspicious activity.
• Include new-hire security onboarding and refresher courses during Cybersecurity Awareness Month.

1. Strong Access and Authentication Controls

• Enforce multi-factor authentication (MFA) across all systems.
• Regularly review access permissions.
• Set automated rules for deactivating dormant accounts.

1. Vendor and Client Risk Assessments

• Evaluate third-party platforms and client security practices.
• Incorporate cyber security risk management clauses into contract language.
• Track data sharing points with clients and outside collaborators.

1. Incident Response Planning

• Create and regularly update a cybersecurity risk management plan for cyber incidents.
• Hold tabletop exercises to rehearse potential breach scenarios.
• Build a media holding statement template and FAQs in advance.

1. Cyber Insurance

• Partner with insurance providers to transfer some of the financial risks.
• Ensure the policy covers PR and reputation repair support.

1. Technical Audits and Penetration Testing

• Regularly test network vulnerabilities with third-party experts.
• Deploy endpoint detection and response (EDR) tools.

The importance of management tools in organizing and automating risk management processes cannot be overstated. These tools help in assigning mitigation tasks, reminding team members of deadlines, and keeping senior executives informed about the completion status of critical tasks.

Statistic Highlight:

“Organizations with formal cybersecurity training programs experience 70% fewer incidents.” (Source: IBM X-Force Threat Intelligence Index 2023)

A strong risk management framework also includes a governance model. Agencies should assign ownership of security controls, develop mitigation strategies for mitigating risks, and designate cross-functional security teams responsible for protecting sensitive data.

Following guidelines like the NIST Risk Management Framework and the National Institute of Standards recommendations ensures agencies meet the highest cybersecurity standards.

Emerging Trends: What Agencies Must Watch

Beyond traditional attacks, the cyber security risk management landscape is shifting. Emerging trends include:

• AI-driven attacks: Attackers using generative AI to create convincing phishing emails.
• Deepfakes and Disinformation: Threats to brand integrity and reputational risk.
• Cloud Security Risks: Improperly configured SaaS platforms exposing agency data.
• Client Expectations: Clients now increasingly ask about agencies’ cyber security risk management posture as part of RFPs.
• Data Sovereignty Laws: Increasing regulations requiring localization and data protection standards.
• Rise in Natural Disasters: Agencies must consider physical threats to infrastructure and how they impact cybersecurity and service continuity.

Key Advice: Prepare now. Agencies that demonstrate cyber maturity through a comprehensive risk management initiative will gain a competitive advantage.

• Account Takeover: Recognize account takeover (ATO) incidents as a significant threat within broader risk identification and management strategies. ATO can lead to data breaches and fraudulent activities when threat actors impersonate trusted users to gain unauthorized access to IT systems.

“Cybersecurity is now a competitive differentiator in agency-client relationships.”

Agencies must continue the process of identifying cyber risks, prioritizing threats, assessing risk levels, and updating their cybersecurity risk management processes as part of dynamic enterprise risk management.

Employee Training and Awareness

Employee training and awareness are critical components of a comprehensive cybersecurity risk management strategy. Employees are often the weakest link in an organization’s cybersecurity defenses, and a single mistake can have devastating consequences. Therefore, educating employees on cybersecurity risks and best practices is essential for preventing cyber attacks and data breaches.

Effective training programs should cover a range of topics, including how to recognize phishing emails, the importance of strong passwords, and the proper handling of sensitive data. Regular training sessions, including phishing simulations and security drills, can help reinforce these lessons and keep cybersecurity top of mind for employees.

Awareness programs should also emphasize the importance of vigilance in identifying and reporting potential threats. By fostering a culture of cybersecurity awareness, organizations can significantly reduce the risk of cyber attacks and data breaches. Employees who are well-informed and vigilant are better equipped to protect the organization’s sensitive data and maintain its reputation.

In conclusion, a robust employee training and awareness program is a vital part of any cybersecurity risk management strategy. By investing in the education and awareness of their workforce, organizations can build a strong line of defense against cyber threats and ensure the security of their operations.

How IPREX Agencies Can Help in a Cyber Crisis

When the unthinkable happens — a breach, ransomware attack, or reputational fallout — speed and strategy matter. Cyber threats can lead to significant negative impacts on organizations, including lost revenue and stolen data.

IPREX agencies offer unique advantages in cybersecurity crisis support:

• Crisis Communications Expertise: Decades of experience managing crises — including cyber-specific incidents.
• Global Footprint: Ability to coordinate responses across markets and time zones.
• Trusted Partnerships: Working closely with cybersecurity firms, insurers, and legal counsel.

“In a cyber crisis, every second counts. Having a trained communications partner can make the difference between recovery and catastrophe.”

Our agencies help clients:

• Quickly assess the scope of an incident.
• Manage public messaging and regulatory disclosures.
• Protect and rebuild stakeholder trust.
• Implement lessons learned to prevent future incidents with stronger cyber risk management strategies to protect sensitive information from threats like stolen data.

Case Study: One IPREX partner was called into a regional energy client’s offices after a ransomware attack compromised billing systems. Within two hours, our agency had activated a stakeholder plan, coordinated with IT to manage external messaging, and briefed national media. The outcome? Zero customer churn — and reputation not just preserved, but strengthened.

Find out how IPREX agencies can help you manage cybersecurity risks. Contact us here.

Cultural Considerations in Global Cyber Risk Strategy

For multinational clients and agencies working cross-border, cyber security risk management must be localized.

Different countries:

• Define personal data differently
• Have unique breach notification laws
• Carry different stakeholder expectations (e.g., transparency vs. discretion)

US federal agencies are required to adhere to specific risk management frameworks such as the NIST RMF and the NIST CSF.

Best Practice: Work with local partners (like those in the IPREX network) to localize crisis response plans. Build market-specific scenarios and media contact lists in advance to address potential risks.

Localization is not just about language — it’s about aligning security measures with cultural norms around privacy, accountability, and institutional trust. This is crucial not only for federal entities but also for the private sector, which can benefit from frameworks like NIST SP 800-30 for effective risk assessment strategies.

Conclusion: Building the Future of Secure Communications

Cybersecurity isn’t going away. If anything, it’s becoming more complex, costly, and consequential.

As communicators, we have a dual responsibility:

• Internally, to protect our people, data, and operations.
• Externally, to guide our clients through cyber security risk management, preparation, and response.

Cybersecurity resilience is no longer a “nice to have” — it’s a core capability for agencies that want to survive and thrive in the next decade.

By integrating cybersecurity best practices, strengthening risk mitigation plans, and aligning with standards like the NIST Cybersecurity Framework, agencies can enhance their ability to manage cybersecurity risks effectively. Remember, management is the process of identifying and addressing security weaknesses and risks in IT systems.

Security protocols are crucial in balancing cybersecurity measures with operational efficiency and user experience.

At IPREX, we are proud to lead by example, helping agencies and clients face the future with confidence, clarity, and resilience.

Ready to strengthen your agency’s cybersecurity risk management process?

Find out how IPREX agencies can help you prepare for — and respond to — a cyber crisis. Contact us today.

Stay tuned for more insights from the IPREX network as we continue to navigate the evolving challenges of global communications, cyber risk management, and digital resilience.