Cybersecurity Ventures estimates that cybercrime cost $6 trillion globally in 2021, making it more profitable than the combined global trade in illegal drugs. Because much of the impact falls directly on businesses, it is one of the most significant threats organizations face. In a recent McKinsey survey of boards of directors, respondents said cybersecurity is one of their top four priorities. However, the same study found that only 20% of directors rank security among their key challenges. This disconnect comes, in part, from the persistent notion that security is an IT issue. Organizations need executive-level leadership to help translate security concerns into business risks.
Chief Information Security Officer: The IT Security Exec You Can’t Live Without
Chief Information Security Officer: The IT Security Exec You Can’t Live Without
That’s the job of the Chief Information Security Officer (CISO). A CISO is a senior-level security executive whose role is to align an organization’s IT security strategy and processes with its business goals, operational requirements, and tolerance for risk. The CISO must be able to go before the board, justify security investments, and validate the effectiveness of the security strategy.
Some organizations lack the budget for a CISO, or can’t justify the cost of a full-time position. Others may have a CISO on staff but could benefit from an outside perspective. A virtual CISO can fill these gaps, providing on-demand expertise and executive leadership in a cost-efficient model.
If you’re looking for help with your IT security, our team at DeSeMa can help! Explore our website to learn more, and give us a call to get started. In the meantime, continue reading to discover how a CISO can be a great asset when it comes to IT security and more.
The CISO Role
The CISO leads the security team and oversees all security-related activities and initiatives, but generally isn’t involved in day-to-day management. The most important role of the CISO is to evaluate security threats and develop a strategy for cost-effectively addressing the business risk they create.
The development of corporate security strategy, policies, and processes, as well as their integration with security technology, are also the responsibility of the CISO. Existing systems need to be evaluated and upgraded if necessary, so the CISO must prepare financial forecasts to cover the cost of IT security tools and their operation and maintenance.
The CISO must stay abreast of new security threats and ensure that there are procedures for identifying and mitigating vulnerabilities, responding to incidents, and managing investigations. This will ensure that corporate information and technology assets are protected while optimizing IT investments.
A primary goal of the CISO is to help create a culture of security and regulatory compliance across the organization. Security should be approached as an ongoing, collaborative effort to control and reduce risk. This requires internal marketing about the business value of IT security and best practices, as well as the fact that security is a shared responsibility of all employees.
The Value of a Virtual CISO
A virtual CISO can fill some or all of this role. This senior security executive works closely with your organization to assess risk and develop, implement, and oversee your IT security strategy. Your virtual CISO will also create security policies, standards, and best practices that protect corporate assets and meet regulatory compliance requirements. When a security incident inevitably occurs, your virtual CISO can draw from a depth of experience to minimize damage and facilitate recovery.
Organizations that have a CISO on staff can still benefit from a virtual CISO. By providing a broader, external perspective, the virtual CISO can help the in-house CISO fine-tune the security strategy, streamline operational processes, and communicate more effectively with other executives and the board of directors.
That communication is critically important. A recent Enterprise Strategy Group (ESG) research report found that just 51% of CISOs have adequate participation in the decisions of the executive team and board. In 27% of organizations, the relationship between the board of directors and IT security pros is rated as fair or poor.
DeSeMa offers virtual CISO services, giving you access to executive-level IT security talent at a fraction of the cost of hiring a qualified, full-time employee. Let us show you how our virtual CISOs can help you cost-effectively develop and manage an IT security strategy that reduces cybercrime risk. Give us a call to get started!