Facing the challenges of new cybersecurity and privacy laws, a sharp increase in cybersecurity litigation, and the ceaseless evolution of ransomware and cyberthreats, the role of Chief Information Security Officer (CISO) has become critical to maintaining business operations and managing risk. According to researchers, there is an all-time low in CISO unemployment rates while the job growth rate is 11%. Given that 40% of CISOs stay in one job for less than two years, it’s likely that most companies will face untimely gaps between CISOs.
CISO LABOR STATISTICS
How can a business maintain vital cybersecurity and privacy risk management when they are between CISOs? The answer is to hire a virtual CISO or CISO as a Service (CaaS). A capable vCISO service will build and operate a unique security program to manage cyber-risk to meet your cybersecurity goals and satisfy legal and contractual requirements.
The CISO is an executive-level officer responsible for maintaining the security and privacy of the enterprise information system. The role includes creating and managing procedures and policies designed to protect communications, systems, and assets from internal and external threats. In addition, they are tasked with anticipating, assessing, and actively managing new and emerging cyber-threats and orchestrating the response to data breaches and other security incidents.
The CISO works with stakeholders across the organization to align security initiatives with business objectives and manage the risks various security threats pose to the organization. They must also ensure the organization maintains compliance with the rapidly changing legal and contractual landscape.
A virtual CISO (vCISO) service can help bridge the gap when a company is between CISOs or a permanent solution. Given the increasing evolution of the threat landscape and the shortage of qualified experts, many organizations find it safer and more cost-effective to outsource the CISO role. According to IDG’s 2021 Security Priorities Study, 62% of organizations plan to outsource IT security functions in 2022. Organizations often outsource evaluation services, such as pen testing, risk assessments, and security audits. Outsourced operations include monitoring of the network, endpoint, and cloud, and security analytics. In 2022 more organizations are expected to outsource behavior monitoring/analysis and security awareness training.
When a CISO leaves, many organizations find they do not have the internal bandwidth or expertise to develop and manage risk and cybersecurity operations independently. Working with an experienced consultant and vCISO service can streamline your cybersecurity and risk management process. Benefits of a qualified vCISO include:
Losing a CISO is not uncommon. They get bored, are in high demand, and want to move on in their careers. Unfortunately, that leaves a gap, and finding a new qualified CISO is challenging. Use a vCISO to bridge that gap, keep your business operating at full speed and make sure your sales team doesn’t hit a speed bump of unsatisfied cybersecurity requirements.
Finding the exemplary vCISO service is no trivial task itself. Before selecting a vCISO, an organization should list its requirements based on cybersecurity objectives and requirements. Next, look for a vCISO with a corresponding track record and proven success.
A qualified vCISO team gives you the same high level of expertise, services, and benefits of seasoned, highly certified CISO, but at a fraction of the cost. Look for a vCISO cybersecurity team with decades of expert experience in tech security and business risk management.
In addition to experience, look for industry leadership. Industry leaders are security professionals who have made and continue to make significant contributions in the cybersecurity space through industry organizations and the broader security profession.
A risk management approach is the basis of an effective cybersecurity program. There is no such thing as perfect security. A risk management approach identifies vulnerabilities in the information management system, scores them according to priority, and weighs cost against business advantages. Effective risk management means acting proactively rather than reactively, thus reducing the possibility of a risk occurring and its potential impact.
A good vCISO understands that your needs can sometimes be more focused on sales than security risk, and that’s no problem. The vCISO needs to be able to address your practical business needs versus obsessing over perfect security. A risk management approach is helpful in that it appropriately weighs the cost of security controls against the threat and, most notably, the business benefits of managing, avoiding, or accepting certain cybersecurity risks.