Can CISO’s run cybersecurity as a business? Should they? Where is the role headed?

Not everyone speaks cyber-in fact people will disregard what you say about the business because you're a cyber professional –so how do you change that??

In my early years as a CISO, I was collecting all the data I could on how CIO’s were making an impact to the business. I thought that could provide some insight into what might work.?

At the time this data was not popular or shared much. So I was doing a lot of digging and asking questions.?

Most people thought a CIO’s job was managing the email server...maybe a database of customer information-”they don’t do business” as many thought.

Things have changed. Now, CIOs are most certainly driving the business.

We can’t wait 20 years for CISOs to start thinking and acting like business executives.

As a CISO, how do your skills translate into running a business?

CISOs need to focus on five areas to grow and mature.

Below are 5 areas and an FAQ to stir the gray cells.?

Here are five areas CISOs need to focus on to run cybersecurity like a business.

1. Strategic Leadership: Beyond a “Tech Guru”

The CISO plays a crucial role as a strategic visionary. As business plans evolve and IT systems need to become more flexible, resilient, and robust, CISOs need to have a thorough understanding of the risks associated with business growth, which is critical when developing the strategic vision.

• By taking this approach, security becomes an intrinsic part of the business function, where it should be. This approach ensures strategic leadership is blended with cybersecurity expertise.

2. Risk Management: Navigating Cyber Threats

Effective risk management is fundamental to any business executive’s responsibilities, and the CISO is no exception. Equipped with a comprehensive risk assessment toolkit, the CISO diligently identifies potential threats and vulnerabilities.

• For Instance, the CISO recognizes the security risk of theft of payment card data in a retail organization. By implementing encryption protocols, tokenization techniques, and secure payment gateways, the CISO dramatically reduces the likelihood of a successful breach. This proactive risk management approach protects the organization from financial and reputational risks associated with data compromise.

3. Financial Acumen: A Strategic Investment

A CISO using financial data becomes a strong ally for the CIO and CFO. Understanding that cybersecurity is not an endless sinkhole for economic resources, the CISO approaches it as a strategic investment.

• For example, when implementing an advanced threat detection system, the CISO weighs the potential costs of successful cyber attacks. By considering expenses such as remediation, legal fees, and customer compensation, the CISO can make a compelling business case for the investment or not. This approach ensures that the organization is adequately protected while optimizing financial resources.

4. Collaboration with Stakeholders: The Power of Unity

Collaboration is crucial to successful business executives, and the CISO embraces this concept wholeheartedly. Recognizing that effective cybersecurity cannot be achieved in isolation, the CISO works closely with the CIO to align cybersecurity initiatives with the organization’s IT infrastructure and digital transformation projects.

• Collaboration with legal and compliance experts also ensures adherence to industry regulations and privacy laws. By fostering collaboration, the CISO ensures that cybersecurity permeates the organization’s culture and operations, creating a unified front against potential risks.

5. Effective Communication: Translating Complexities

The power of effective communication cannot be underestimated. CISOs must excel in translating complex cybersecurity concepts into plain business language, catering to technical and non-technical stakeholders.

• For Instance, when presenting cybersecurity reports to the board of directors, it emphasizes the potential impact of cyber threats on the company’s operations, reputation, and financial standing. By vividly portraying the risks involved, CISOs enable the board members to make informed decisions regarding resource allocation and support for cybersecurity initiatives.

Each one of the areas above should be considered a strategic plan on its own.?

No CISO should enter the role without having a strategic plan for supporting the organization as a business.?

Building a 90-day systematic plan based on the 5 points above will get you in front of your peers and executives and show them how you manage cybersecurity from a business perspective.?

Doing this well will demonstrate strategic leadership, prioritize risk management, foster collaboration, promote a culture of security, and ensure continuous adaptation to emerging threats.

FAQ

How do the specific skills of a CISO translate to general business management skills?

• Specific skills translation: CISOs need to understand both the technical aspects of cybersecurity and the strategic needs of the business. Skills like risk assessment, threat analysis, and security protocol development directly translate into business management through strategic planning, risk management, and operational resilience

What are the measurable outcomes of treating cybersecurity as a strategic business function?

• Measurable outcomes: Treating cybersecurity as a strategic business function can lead to measurable outcomes such as reduced security incidents, cost savings from avoiding breaches, improved regulatory compliance, and enhanced customer trust.

How does a CISO balance the technical demands of cybersecurity with the strategic planning aspects of business leadership?

• Balance technical and strategic planning: A CISO balances these demands by delegating technical tasks to their team while focusing on strategic planning, such as aligning cybersecurity goals with business objectives, ensuring that security measures support organizational growth, and communicating risks and strategies to stakeholders.

What specific financial acumen is required for a CISO to effectively manage cybersecurity budgets and investments?

• Financial acumen required: A CISO needs to understand budgeting, investment analysis, cost-benefit analysis, and financial forecasting to effectively manage cybersecurity budgets and investments. This involves assessing the financial impact of potential security breaches and justifying the cost of security measures through a business lens.

How can a CISO effectively measure and demonstrate the ROI (Return on Investment) of cybersecurity initiatives?

• Measuring ROI of cybersecurity initiatives: This can be achieved by tracking metrics like incident reduction, cost savings from prevented attacks, improved system uptime, and compliance rates. Demonstrating how cybersecurity investments protect assets and contribute to the bottom line is crucial.

In what ways can a CISO foster a culture of security across different departments and stakeholders within an organization?

• Fostering a security culture: A CISO can promote a culture of security by implementing regular training programs, ensuring that security policies are integrated into daily business operations, and creating a governance structure that includes cybersecurity at all levels of decision-making.

How does the role of a CISO evolve as a company grows and its cybersecurity needs change?

• CISO role evolution with company growth: As a company grows, the CISO’s role evolves to address more complex security challenges, scale security infrastructure, manage a larger team, and integrate security into a broader range of business activities. They must stay ahead of emerging threats and adapt to changing business models and technologies.

What are the challenges and solutions in aligning cybersecurity strategies with overall business objectives and regulatory requirements?

• Aligning cybersecurity and business objectives: The challenge lies in ensuring that cybersecurity strategies support business goals without impeding operational efficiency. Solutions include regular communication with business leaders to align objectives, integrating cybersecurity considerations into business planning processes, and adopting a risk management approach that aligns with business priorities.