A Security Governance Management System (SGMS) is a comprehensive framework and set of practices that an organization implements to effectively manage and govern its security-related activities and processes. It is a critical component of an organization's overall information security program and aims to ensure that security is integrated into all aspects of the organization's operations. The primary goal of an SGMS is to protect the organization's sensitive data, assets, and resources from various security threats and risks.

Here are key components and characteristics of a Security Governance Management System:

1. Policies and Procedures: An SGMS begins with the establishment of security policies and procedures. These documents define the organization's approach to security, outlining roles, responsibilities, and guidelines for employees and stakeholders.

2. Risk Assessment and Management: It involves the identification, assessment, and prioritization of security risks. Organizations need to regularly evaluate potential threats and vulnerabilities and develop strategies to mitigate or manage these risks effectively.

3. Compliance and Regulations: Ensuring compliance with relevant laws, regulations, and industry standards is a crucial aspect of security governance. Organizations must align their security practices with legal and regulatory requirements.

4. Security Awareness and Training: An effective SGMS includes ongoing training and awareness programs for employees and stakeholders. It ensures that everyone in the organization understands their role in maintaining security and is aware of best practices.

5. Security Roles and Responsibilities: Clearly defined roles and responsibilities for security-related tasks are essential. This includes appointing security officers or teams responsible for implementing and enforcing security measures.

6. Incident Response and Management: An SGMS should have a well-defined incident response plan in place to address security incidents promptly. This includes procedures for reporting, investigating, and mitigating security breaches.

7. Continuous Improvement: Security governance is an evolving process. Organizations should regularly review and update their security measures, policies, and procedures to adapt to changing threats and technologies.

8. Security Metrics and Reporting: Establishing key performance indicators (KPIs) and regularly reporting on security-related metrics help monitor the effectiveness of security measures and demonstrate compliance to stakeholders.

9. Vendor Management: Many organizations rely on third-party vendors and service providers for various functions. An SGMS includes guidelines for assessing and managing the security of these vendors.

10. Security Culture: A strong security culture is promoted within the organization to ensure that security is a shared responsibility and not solely the domain of the IT department.

11. Board and Executive Oversight: Senior management and the board of directors play a critical role in security governance by providing oversight, setting the tone for security, and allocating resources for security initiatives.

12. Documentation and Records Management: Proper documentation of security-related activities, incidents, and decisions is essential for audit trails and accountability.

In summary, our Security Governance Management System is a structured approach to managing and governing an organization's security practices. It helps protect against security threats, ensures compliance with regulations, and promotes a culture of security awareness and responsibility throughout the organization. The specific components and processes of an SGMS may vary depending on the organization's size, industry, and unique security requirements.