SOC2 Incident Management Policy Template Download

Introduction

Incident management is a critical process that ensures an organization can detect, respond to, and recover from security incidents efficiently while minimizing impact. The Incident Management Policy provides a structured approach for preparing for incidents, detecting them early, containing their effects, eradicating threats, and learning from the experience to strengthen future resilience. By following this policy step-by-step, organizations can protect sensitive data, comply with regulations, maintain service continuity, and foster a proactive security culture.

Step-By-Step Guide For Using The Incident Management Policy

Step 1: Understand the Policy Scope

• What to do: Identify who is covered staff, contractors, consultants, visitors, and third parties with system access.
  
  

• Why it matters: This ensures everyone interacting with organizational systems knows their role in incident management.

• Tip: Maintain a current contact list of all individuals covered by the policy.

Step 2: Assign Roles and Responsibilities

• • Management: Oversee implementation, allocate resources, and ensure compliance.
    
    

  • IT Department: Maintain security systems, provide technical response, and train employees.
    
    

  • Employees: Follow procedures, report incidents, and protect data.
    
    

• Why it matters: Clear accountability ensures a quick, coordinated response during an incident.

Step 3: Prepare for Incidents

• • Develop a formal Incident Response Plan (IRP).
    
    

  • Set up an Incident Response Team (IRT) with trained members.
    
    

  • Conduct annual training and simulation exercises.
    
    

  • Create communication templates for internal and external notifications.
    
    

  • Maintain a classification system for incidents by type and severity.
    
    

  • Test and review the IRP at least once a year.
    
    

• Why it matters: Preparation reduces response delays and confusion when incidents occur.

Step 4: Detect Incidents Early

• • Establish a Security Operations Center (SOC) or equivalent monitoring capability.
    
    

  • Encourage prompt reporting of suspicious activities.
    
    

  • Maintain a tiered escalation system for incident reports.
    
    

  • Involve stakeholders to provide supporting evidence or insights.
    
    

• Why it matters: Early detection minimizes potential damage.

Step 5: Analyze and Contain Incidents

• • Confirm whether reported anomalies are actual security incidents.
    
    

  • Determine the scope, nature, and impact of the incident.
    
    

  • Engage experts if necessary for forensic analysis.
    
    

  • Use methods like log analysis, network monitoring, and interviews.
    
    

  • Isolate affected systems or users to prevent further spread.
    
    

  • Protect other systems and sensitive data.
    
    

  • Notify clients and external bodies only with CEO approval.
    
    

• Why it matters: Effective containment prevents escalation and further harm.

Step 6: Eradicate the Threat

• • Remove malware and malicious files.
    
    

  • Apply patches, firewall adjustments, or other security measures.
    
    

  • Remove compromised systems from the network until safe.
    
    

  • Document vulnerabilities exploited in the attack.
    
    

• Why it matters: Eradication ensures the threat cannot reoccur from the same source.

Step 7: Recover Operations

• • Restore systems from secure backups.
    
    

  • Return network access after ensuring systems are clean.
    
    

  • Verify normal business operations.
    
    

  • Preserve evidence for legal, regulatory, or internal review.
    
    

• Why it matters: Fast recovery reduces downtime and operational disruption.

Step 8: Conduct Post-Incident Activities

• • Hold after-action reviews to capture lessons learned.
    
    

  • Archive documentation, including reports on suspected incidents.
    
    

  • Keep incident tracking data confidential and accessible only to authorized staff.
    
    

  • Identify long-term security improvements.
    
    

• Why it matters: Learning from incidents strengthens defenses for the future.

Step 9: Manage Risks Proactively

• • Conduct bi-annual risk assessments focused on incident response readiness.
    
    

  • Use findings to update security controls and training.
    
    

  • Consider risks from both cyber threats and insider actions.
    
    

• Why it matters: Proactive management prevents repeat incidents.

Step 10: Maintain Security Measures

• • Implement layered defenses: firewalls, intrusion detection, regular audits.
    
    

  • Maintain physical security controls for hardware and sensitive areas.
    
    

• Why it matters: Multiple defenses reduce the risk of successful attacks.

Step 11: Control Access to Systems

• • Apply the least privilege principle for all accounts.
    
    

  • Keep detailed audit trails for sensitive system access.
    
    

  • Review access rights regularly.
    
    

• Why it matters: Access control limits damage if accounts are compromised.

Step 12: Ensure Legal and Regulatory Compliance

• • Stay up to date with Australian and New Zealand telecommunications and security laws.
    
    

  • Train staff on these legal requirements.
    
    

• Why it matters: Compliance avoids legal penalties and supports responsible incident handling.

Step 13: Provide Ongoing Training & Awareness

• • Include incident management training in onboarding.
    
    

  • Offer refresher sessions and awareness campaigns.
    
    

  • Cover latest trends in cyber threats and compliance changes.
    
    

• Why it matters: A well-informed workforce can respond effectively to threats.

Step 14: Review and Update the Policy

• • Review at least annually or after significant incidents.
    
    

  • Update based on audit feedback, risk assessment findings, and regulatory changes.
    
    

• Why it matters: An up-to-date policy remains effective and relevant.

Step 15: Handle Exceptions Properly

• • Document and approve deviations from the policy at a senior management level.
    
    

  • Ensure temporary measures are in place if exceptions are made.
    
    

• Why it matters: Controlled exceptions prevent security lapses from becoming permanent weaknesses.

Step 16: Ensure Approval and Acknowledgment

• • Obtain formal board approval for the policy.
    
    

  • Require employees and contractors to sign an acknowledgment of understanding.
    
    

• Why it matters: This formalizes commitment and accountability.

Conclusion- Key Takeaways 

• Preparation is critical: A tested IRP and trained IRT make all the difference in crisis situations.
  
  

• Early detection saves time and money: The sooner incidents are found, the easier they are to contain.
  
  

• Containment prevents escalation: Isolating threats limits damage to systems and data.
  
  

• Eradication and recovery restore trust: Proper cleanup and restoration reassure stakeholders.
  
  

• Post-incident reviews strengthen resilience: Learning from mistakes prevents repeat incidents.
  
  

• Compliance is non-negotiable: Staying aligned with laws protects the organization legally and reputationally.
  
  

• Continuous improvement keeps defenses strong: Regular reviews, training, and policy updates are essential.