Guide to CRISC Certification Training (Overview, Benefits & Career Path)

Digital transformation journeys have been expedited by advances in technology, and the broad use of IoT has raised the amount and number of cyber risks more than ever before.

According to Infosecurity Europe and PwC research, only about 40% of Fortune 500 companies can ensure that their third-party data is secured.

Furthermore, 88 percent of administrators throughout the world claim that their staff often utilise their networks and technologies for potential business.

The CRISC (Certified in Risk and Information Systems Control) certification issued by ISACA is a risk management certification. It is highly recommended by experts who wish to improve their knowledge and skills related to business and IT risks and implement the controls of information systems.

Before you can apply for this certification, you must first complete a few requirements.

Candidates must be familiar with enterprise risk management and challenge management, as well as the ability to build risk-based controls for information systems.

CRISC is a renowned risk management certification that aids professionals in preparing for real-world hazards at the corporate level. It gives businesses and people the tools they need to analyse and manage risks.

Who Can Benefit From a CRISC Certification?

The CRISC certification was created for IT professionals who are responsible for managing enterprise-level risks and requirements. If you work in any of the following positions, you can benefit from this qualification.

• Professionals in charge of risk
• Managers of projects
• Professionals in charge of security
• IT specialists
• Analysts in business
• Professionals in charge of compliance

A CRISC Certification demonstrates that an IT expert is capable of dealing with uncommon situations and obstacles that businesses face. Hundreds of professionals with this degree currently hold CFO and CEO positions in significant corporations, making it an internationally recognised competence benchmark in the sector.

Importance of CRISC:

Risk management is crucial for organisations today, given the increased danger of cybercrime, particularly data fraud and manipulation. Cybersecurity is a top issue for firms gathering data as more customers and corporate services migrate to virtual platforms.

Even a little data breach can result in enormous financial losses for a company, leading to the loss of customers or bankruptcy. Businesses who are unable to offer secure transactions for their customers are perceived as unsafe and untrustworthy, which may permanently harm a company's image.

Candidates who have earned the CRISC certification have a thorough awareness of IT risks and its implications for whole companies. They are also adept at creating risk-mitigation measures. They also established a uniform communication channel for stakeholders and IT groups.

Other benefits of the CRISC certification path are as follows.

• It is verifiable evidence of your risk management experience and understanding.
• It raises your value in the eyes of businesses and organisations seeking to control their IT risks.
• It provides you an advantage over other job seekers or your coworkers when you're striving for a promotion.
• It gives you access to ISACA's worldwide knowledge network, which includes the latest risk management concepts and trends.
• It also assists you in achieving and maintaining a recognised code of conduct in accordance with ISACA's requirements for continuing education and upholding company ethics.

How to Get a CRISC Certification?

Given all the benefits of the CRISC certification, it is a lucrative credential to earn. Here’s how you can get this certification.

The certification test must be passed.

1. Work experience in information system control and risk management will help you advance your career. You must have at least 2-3 years of combined experience in at least two of the four fields that CRISC prepares you for. As a CRISC professional, you must have expertise in either domain 1 or 2.
2. To become certified, submit a completed CRISC application. Work experience must have occurred within the last 10 years prior to the application deadline or within the last five years after taking the certification exam.
3. You must follow the professional ethics code, which was created to set professional and personal behaviour standards. This means that you should only share information obtained while doing your tasks if you are legally obligated to do so. 
4. All of your responsibilities must be completed professionally, objectively, and with due diligence in accordance with professional standards and best practises. While working, you must also maintain a high level of character, standards, and behaviour.
5. You must follow the CPE (continuing professional education) policy, which requires a minimum of 20 contact hours and a maintenance fee each year. Within a three-year fixed term, CRISC professionals must register at least 120 contact hours.

The CRISC Exam Domain Breakup:

The CRISC certification test will offer you a good sense of how to approach the exam and what kind of questions you'll be asked. You have four hours to complete all of the tasks.

Breaking down the test into separate areas and covering them one at a time is the finest and most certain approach of passing your CRISC certification exam. The CRISC Task Force has created four domains into which you can divide the test. Let's take a look at each one separately.

Domain #1: 27% - IT Risk Identification

This area focuses on the needs and actions that businesses must take in order to acquire the data necessary to detect potential threats, vulnerabilities, and hazards.

Preparing scenarios to assist identify the impact of prospective risks on a company, the enterprise's tolerance, and the stakeholders will be among the questions in this subject.

Domain #2: 28% - IT Risk Assessment

The second domain is security assessment programmes, which are designed to help businesses discover domains that may pose a danger to them.

The questions in this domain are designed to evaluate your understanding of the intended state of your organization's IT infrastructure as well as the present state of risks in order to provide suitable and acceptable controls.

The testing of current controls and disseminating the analysis results to top management and other business stakeholders are also important aspects of the IT risk assessment area.

Domain #3: 23% - Risk Response and Mitigation

The third domain focuses on creating and executing effective risk responses as well as adopting the appropriate controls to reduce exposure. It involves the assessment of threat response efficacy and the return to normalcy of an organization's processes, as well as the allocation of responsibility for various recovery tasks.

Documentation of processes, controls, risk register updates, and risk control policy execution are all part of this area.

Domain #4: 22% - Risk and Control Monitoring and Reporting

The fourth area focuses on the need of continuously evaluating current IT risks and the controls in place, as well as the efficiency of risk management techniques and their contribution to business goals.

The Risk and Control Monitoring and Reporting domain also assists you in comprehending the process of reporting results to stakeholders.

This domain's questions assess your understanding of metric values, including monitoring and KRI (key risk indicator) analysis, as well as KPI analysis (key performance indicators). KPIs are used to identify trends or changes in the efficacy and efficiency of the controls in place.