Action Plan for CISOs Addressing Recent Developments and Preparing for the Future of the CISO Role
Understand the Implications:
- Recognize the significance of the Wells Notice served to Solarwinds' CISO, highlighting the potential enforcement action for violating securities rules. Acknowledge that this is an unprecedented event in the CISO role.
- Internalize the immense career hardships that Wells Notices can create, particularly for individuals planning to work for publicly traded companies.
Stay Informed:
- Monitor the situation closely and gather as much information as possible about the allegations against the Solarwinds CISO. Although details are not yet public, this case could shed light on potential vulnerabilities in cybersecurity leadership.
- Stay updated on developments in cyber incident disclosure regulations and SEC actions. Be proactive in understanding evolving regulatory requirements to ensure compliance.
Focus on Incident Disclosure:
- Recognize the rising importance of failure to disclose information about cybersecurity incidents. Take steps to ensure accurate and timely disclosure of incident severity and impact.
- Develop a robust incident response and communication plan that includes clear guidelines on disclosure to stakeholders, including the board, shareholders, and regulators. Implement mechanisms to assess incident severity and determine appropriate disclosure timing.
Strengthen Board Governance:
- Acknowledge the impact of the Solarwinds case on cybersecurity governance policies and practices. Understand that the Delaware Supreme Court Appeal for the shareholder derivative lawsuit will guide director responsibility.
- Advocate for a high-performing and functional board actively participating in the cybersecurity system. Emphasize the need for board members with relevant expertise in cybersecurity, digital risk, and incident response.
- Work towards establishing transparent reporting and communication lines between the CISO and the board. Regularly engage with the board to discuss cybersecurity risks, incident response plans, and ongoing security initiatives.
Evaluate Cyber Risk Disclosures:
- Assess the effectiveness and transparency of your organization's cyber risk disclosures, particularly in the context of digital and cyber risks. Ensure that these disclosures accurately reflect the organization's cybersecurity posture.
- Avoid treating risk disclosures as mere window dressing. Scrutinize and improve disclosure practices to provide meaningful and relevant information to stakeholders.
- Collaborate with legal, compliance, and financial teams to ensure accurate and comprehensive disclosures that comply with regulatory requirements.
Foster Collaboration:
- Recognize the growing downsides of working in isolation as a CISO. Emphasize building relationships and collaborating with other executives, departments, and external stakeholders.
- Engage with peers and industry groups to share knowledge and best practices. Participate in cybersecurity communities and conferences to stay updated on emerging trends and technologies.
- Foster a culture of cybersecurity awareness and collaboration throughout the organization. Encourage employees to report security incidents promptly and participate in security training programs.
Embrace Continuous Improvement:
- View the heightened scrutiny of the CISO role as an opportunity for growth and improvement. Stay proactive in enhancing cybersecurity leadership skills, knowledge, and capabilities.
- Invest in ongoing professional development and certifications relevant to the evolving cybersecurity landscape.
- Regularly assess and enhance your organization's cybersecurity program, ensuring alignment with industry standards and best practices.
In conclusion, the recent developments, including the Wells Notice, served to Solarwinds' CISO, highlighting the need for CISOs to stay vigilant, proactive, and adaptable.
By understanding the implications, staying informed, focusing on incident disclosure, strengthening board governance, evaluating risk disclosures, fostering collaboration, and embracing continuous improvement, CISOs can navigate the evolving cybersecurity landscape and prepare for the future of their role.
Leber Consulting LLC can help.
Information Security & Privacy Trusted Advisor | Keynote Speaker
1 年Thanks for sharing this. Here's the?U.S. Securities and Exchange Commission?68-page report:?https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-227.pdf I'll read it Sunday morning, do you?
Founder | CyberSecurity Engineer | Business Developer | Business Manager | Entrepreneur | CEO
1 年Thanks for sharing.
CISO - Cyber Security Executive
1 年Great article Dennis E. Leber, Ph.D. - interesting times are ahead (when are they not!) for CISOs.
CISO and DPO driving values of accountability, transparency
1 年Such notices highlights the fact the role of CISO in an organization is no longer a “checkbox” role. Boards and Management are now required to change their mindsets in how they see the role of CISO and the security teams reporting into that role. This is no different than the role of DPO required under GDPR.
A human. A mother. A solver. A superwoman. This isn't Star Wars, I don't have a deathstar, but I will attempt to blast your traditional view of the sales/exec relationship into extra dimensional space
1 年With the CISO role already being considered high turnover and known for burnout, do you see this considerably effecting our already diminishing pool of Sr. Leadership in this role?