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This is Part 2 of a 3-part series from our newest ebook titled, "The CEO's Guide to Hiring a CISO".
Part 2: How Does a CISO Add Value?
The modern business landscape is fraught with cybersecurity threats, making the Chief Information Security Officer (CISO) role more crucial than ever. In this second part of our guide, we delve into how a CISO can fundamentally shift your organization's approach to security, turning potential vulnerabilities into fortified strengths.
A CISO brings immense value by safeguarding sensitive information and fostering trust among stakeholders; in an era where cyber incidents are not a matter of “If” but “when,” a CISO’s role in averting, containing, or minimizing the costs of cyber exploits cannot be underestimated. Beyond risk management, the CISO plays a pivotal role in easing regulatory scrutiny, optimizing security investments, and enhancing the overall cyber posture of your company.
A CISO adds value by providing the technology leadership needed to:
- Protect Digital Assets: Protect the sensitive information of the business.
- Foster Trust: Maintain and foster trust with all stakeholders, including customers, business partners, internal management, employees, and company leadership.
- Minimize Risk: In 2022, 83% of businesses had experienced a cyber incident (The Devastating Impact of a Cyber Breach, HBR, May 2023). A cyber threat represents at least a significant unplanned business cost or, at most, an existential risk to the business. A CISO averts, contains, or minimizes the cost of exploitation.
- Fulfill Regulatory Compliance: A CISO can significantly ease regulatory scrutiny and the associated challenges by maintaining and providing a clear view of the organization's cybersecurity posture, which instills confidence in regulators and investors alike.
- Measure/Manage Cybersecurity: Positioning security controls in key functional areas, such as the Application CI/CD process, can save significant time for those functions, averting significant and costly retrofit that may be required otherwise.
What are the most pressing challenges that hiring a CISO solves?
Hiring a CISO addresses several key challenges: unifying cybersecurity efforts, consolidating security resources, and providing a clear overview of security risks. This central leadership fosters cohesion and clarity, establishing a comprehensive and strategic approach to cyber threat management.
A CISO:
- Provides central leadership and cohesion across all cybersecurity functions
- Consolidates security tools, resources, and budget
- Provides a clear view of the security risk(s) an organization is addressing/accepting
- Provides a risk-based lack of visibility into the overall cybersecurity program, and
- Presents a credible spokesperson for internal and external stakeholders.
What are the top 3 priorities of a CISO?
A CISO focuses on establishing a clear cybersecurity strategy, managing ongoing risks, and leading incident response efforts. These priorities ensure that cybersecurity measures are preventive and responsive, enabling your business to recover swiftly from security incidents. The Top 3 priorities are to
- Maintain a clear strategy for the cybersecurity program with accompanying governance.
- Provide ongoing risk management, including operational threat management.
- Establish incident response workflow, crisis recovery leadership, and scenario planning.
Stay tuned for Part 3, where we discuss how to select the perfect CISO for your organization.
Download the full e-book: The CEO's Guide to Hiring a CISO
Contributors: Burke Autrey (CEO), Walt Czerminsiki (Partner), Tim Mather (Partner), Bill Alfveby (Partner).
